Utah Retirement Systems decreased its stake in shares of Roblox Co. (NYSE:RBLX – Get Rating) by 50.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,675 shares of the company’s stock after selling 47,903 shares during the period. Utah Retirement Systems’ holdings in Roblox were worth $1,673,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the business. Bard Financial Services Inc. boosted its holdings in shares of Roblox by 0.3% during the third quarter. Bard Financial Services Inc. now owns 76,865 shares of the company’s stock worth $2,755,000 after purchasing an additional 250 shares during the last quarter. Wetherby Asset Management Inc. boosted its holdings in Roblox by 7.4% in the first quarter. Wetherby Asset Management Inc. now owns 4,366 shares of the company’s stock valued at $202,000 after acquiring an additional 300 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Roblox by 3.0% in the first quarter. EP Wealth Advisors LLC now owns 11,902 shares of the company’s stock valued at $550,000 after acquiring an additional 342 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Roblox by 1.3% in the third quarter. Rockefeller Capital Management L.P. now owns 34,246 shares of the company’s stock valued at $1,227,000 after acquiring an additional 430 shares during the last quarter. Finally, Evolution Wealth Advisors LLC boosted its holdings in Roblox by 1.0% in the third quarter. Evolution Wealth Advisors LLC now owns 43,553 shares of the company’s stock valued at $1,561,000 after acquiring an additional 446 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.
Roblox Trading Up 0.3 %
Shares of NYSE:RBLX opened at $40.05 on Monday. Roblox Co. has a 12 month low of $21.65 and a 12 month high of $53.88. The stock’s 50 day moving average price is $36.48 and its 200 day moving average price is $36.29. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.55 and a quick ratio of 1.55.
Insider Buying and Selling at Roblox
In other Roblox news, Director Gregory Baszucki sold 8,334 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $38.13, for a total transaction of $317,775.42. Following the sale, the director now directly owns 9,905,269 shares of the company’s stock, valued at approximately $377,687,906.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Roblox news, Director Gregory Baszucki sold 8,334 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $38.13, for a total transaction of $317,775.42. Following the sale, the director now directly owns 9,905,269 shares of the company’s stock, valued at approximately $377,687,906.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 3,178 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $37.85, for a total transaction of $120,287.30. Following the sale, the chief accounting officer now directly owns 90,745 shares in the company, valued at $3,434,698.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 619,378 shares of company stock valued at $23,576,761. Corporate insiders own 28.22% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Wedbush lifted their target price on Roblox from $32.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Cowen reduced their target price on Roblox to $27.00 in a report on Tuesday, November 15th. Needham & Company LLC raised their price objective on Roblox from $42.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Roblox from $45.00 to $55.00 in a research report on Thursday, February 16th. Finally, Piper Sandler raised their price objective on Roblox from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.75.
About Roblox
Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.
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