PNC Financial Services Group Inc. Decreases Stock Position in Roblox Co. (NYSE:RBLX)

Posted by Defense World Staff on Jun 3rd, 2023

PNC Financial Services Group Inc. lessened its position in Roblox Co. (NYSE:RBLX – Get Rating) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,772 shares of the company’s stock after selling 2,426 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Roblox were worth $620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its position in Roblox by 40.8% during the fourth quarter. Baillie Gifford & Co. now owns 29,442,957 shares of the company’s stock worth $837,947,000 after buying an additional 8,535,968 shares in the last quarter. Vanguard Group Inc. lifted its position in Roblox by 29.2% during the third quarter. Vanguard Group Inc. now owns 28,303,428 shares of the company’s stock worth $1,014,396,000 after buying an additional 6,396,902 shares in the last quarter. BlackRock Inc. lifted its position in Roblox by 46.2% during the third quarter. BlackRock Inc. now owns 18,567,578 shares of the company’s stock worth $665,464,000 after buying an additional 5,870,164 shares in the last quarter. State Street Corp lifted its position in Roblox by 23.3% during the third quarter. State Street Corp now owns 8,122,366 shares of the company’s stock worth $291,106,000 after buying an additional 1,535,510 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Roblox by 2.8% during the fourth quarter. Jennison Associates LLC now owns 7,302,054 shares of the company’s stock worth $207,816,000 after buying an additional 199,100 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RBLX shares. Credit Suisse Group lifted their price objective on Roblox from $37.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, February 16th. Roth Capital raised Roblox from a “neutral” rating to a “buy” rating in a research note on Thursday, May 11th. Morgan Stanley raised their target price on Roblox from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Thursday, February 16th. DA Davidson raised their target price on Roblox from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Finally, Wedbush raised their target price on Roblox from $32.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, February 16th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.22.

Insider Activity

In other news, insider Mark Reinstra sold 14,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $40.14, for a total value of $561,960.00. Following the completion of the sale, the insider now directly owns 332,308 shares of the company’s stock, valued at approximately $13,338,843.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Craig Donato sold 2,000 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $40.25, for a total value of $80,500.00. Following the transaction, the insider now owns 1,248,097 shares in the company, valued at approximately $50,235,904.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 14,000 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $40.14, for a total value of $561,960.00. Following the completion of the transaction, the insider now owns 332,308 shares in the company, valued at approximately $13,338,843.12. The disclosure for this sale can be found here. In the last three months, insiders sold 842,808 shares of company stock valued at $33,605,198. Insiders own 27.67% of the company’s stock.

Roblox Stock Down 4.2 %

Roblox stock opened at $40.34 on Friday. Roblox Co. has a fifty-two week low of $23.88 and a fifty-two week high of $53.88. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $24.41 billion, a P/E ratio of -23.45 and a beta of 1.76. The stock has a 50-day simple moving average of $40.65 and a 200-day simple moving average of $36.97.

About Roblox

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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.