Franklin Resources Inc. Sells 668,423 Shares of Roblox Co. (NYSE:RBLX)

Franklin Resources Inc. lowered its position in shares of Roblox Co. (NYSE:RBLX) by 10.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,032,382 shares of the company’s stock after selling 668,423 shares during the period. Franklin Resources Inc. owned about 0.99% of Roblox worth $349,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RBLX. Versant Capital Management Inc grew its holdings in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after buying an additional 230 shares during the period. Rakuten Securities Inc. grew its holdings in Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after acquiring an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Roblox by 188.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after acquiring an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Roblox by 29.2% in the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $69,000 after acquiring an additional 271 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 5,879 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $65.00, for a total value of $382,135.00. Following the completion of the sale, the chief accounting officer now directly owns 75,528 shares of the company’s stock, valued at approximately $4,909,320. This represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Baszucki sold 138,555 shares of Roblox stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the transaction, the chief executive officer now directly owns 129,301 shares in the company, valued at $9,260,537.62. This represents a 51.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 926,466 shares of company stock valued at $60,212,297. 22.15% of the stock is owned by corporate insiders.

Roblox Trading Down 1.2 %

Shares of Roblox stock opened at $58.36 on Tuesday. The stock has a market capitalization of $36.13 billion, a PE ratio of -40.25 and a beta of 1.49. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74. The stock has a 50 day moving average price of $63.07 and a two-hundred day moving average price of $55.65. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, equities analysts anticipate that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RBLX. Citigroup boosted their price objective on shares of Roblox from $63.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wedbush reaffirmed an “outperform” rating and set a $83.00 target price on shares of Roblox in a report on Friday, February 7th. Macquarie increased their price target on Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Benchmark reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Roblox in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group increased their target price on shares of Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.23.

Roblox Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.