abrdn plc Sells 426 Shares of Roblox Co. (NYSE:RBLX)

Posted by on May 25th, 2023

abrdn plc decreased its position in shares of Roblox Co. (NYSE:RBLX – Get Rating) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,139 shares of the company’s stock after selling 426 shares during the quarter. abrdn plc’s holdings in Roblox were worth $972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wetherby Asset Management Inc. raised its stake in Roblox by 7.4% during the first quarter. Wetherby Asset Management Inc. now owns 4,366 shares of the company’s stock worth $202,000 after buying an additional 300 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Roblox by 3.0% in the 1st quarter. EP Wealth Advisors LLC now owns 11,902 shares of the company’s stock worth $550,000 after acquiring an additional 342 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Roblox by 30.6% in the 4th quarter. Allworth Financial LP now owns 1,494 shares of the company’s stock valued at $43,000 after purchasing an additional 350 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Roblox by 4.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,725 shares of the company’s stock valued at $248,000 after purchasing an additional 405 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Roblox by 1.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 30,296 shares of the company’s stock worth $863,000 after purchasing an additional 424 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Insider Transactions at Roblox

In related news, CAO Amy Marie Rawlings sold 2,859 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $39.63, for a total transaction of $113,302.17. Following the sale, the chief accounting officer now directly owns 88,028 shares of the company’s stock, valued at approximately $3,488,549.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David Baszucki sold 550,000 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $38.14, for a total transaction of $20,977,000.00. Following the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at approximately $38.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 2,859 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $39.63, for a total transaction of $113,302.17. Following the sale, the chief accounting officer now directly owns 88,028 shares in the company, valued at $3,488,549.64. The disclosure for this sale can be found here. Insiders have sold 1,371,627 shares of company stock valued at $53,719,623 in the last three months. 27.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Oppenheimer began coverage on Roblox in a report on Wednesday, January 25th. They set a “market perform” rating on the stock. Piper Sandler raised their price target on shares of Roblox from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, February 16th. Needham & Company LLC reduced their price objective on shares of Roblox from $53.00 to $48.00 in a report on Thursday, May 11th. Credit Suisse Group raised their price target on shares of Roblox from $37.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, February 16th. Finally, VNET Group reaffirmed a “maintains” rating on shares of Roblox in a research report on Monday, May 8th. Seven analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Roblox has an average rating of “Hold” and a consensus price target of $40.22.

Roblox Price Performance

NYSE:RBLX opened at $40.51 on Thursday. The firm’s 50-day moving average price is $41.09 and its 200-day moving average price is $36.75. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.03. Roblox Co. has a 1-year low of $23.88 and a 1-year high of $53.88.

Roblox Profile

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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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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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