Credit Suisse AG Sells 31,049 Shares of Roblox Co. (NYSE:RBLX)

Posted by on Jun 9th, 2023

Credit Suisse AG cut its position in shares of Roblox Co. (NYSE:RBLX – Get Rating) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 702,067 shares of the company’s stock after selling 31,049 shares during the quarter. Credit Suisse AG owned 0.13% of Roblox worth $19,981,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RBLX. Baillie Gifford & Co. lifted its position in shares of Roblox by 40.8% in the fourth quarter. Baillie Gifford & Co. now owns 29,442,957 shares of the company’s stock valued at $837,947,000 after buying an additional 8,535,968 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Roblox by 29.2% during the 3rd quarter. Vanguard Group Inc. now owns 28,303,428 shares of the company’s stock worth $1,014,396,000 after purchasing an additional 6,396,902 shares during the last quarter. State Street Corp lifted its holdings in Roblox by 2,473.0% during the 2nd quarter. State Street Corp now owns 6,586,856 shares of the company’s stock worth $216,444,000 after purchasing an additional 6,330,861 shares during the last quarter. BlackRock Inc. lifted its holdings in Roblox by 46.2% during the 3rd quarter. BlackRock Inc. now owns 18,567,578 shares of the company’s stock worth $665,464,000 after purchasing an additional 5,870,164 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Roblox during the 3rd quarter worth approximately $91,412,000. 72.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Amy Marie Rawlings sold 2,859 shares of Roblox stock in a transaction on Monday, May 22nd. The stock was 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 approximately $3,488,549.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amy Marie Rawlings sold 2,859 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $39.63, for a total value of $113,302.17. Following the sale, the chief accounting officer now directly owns 88,028 shares in the company, valued at approximately $3,488,549.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Manuel Bronstein sold 5,335 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $45.00, for a total value of $240,075.00. Following the completion of the sale, the insider now owns 707,002 shares in the company, valued at $31,815,090. The disclosure for this sale can be found here. Over the last three months, insiders have sold 842,808 shares of company stock worth $33,605,198. 27.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RBLX has been the subject of several research reports. Roth Capital raised Roblox from a “neutral” rating to a “buy” rating in a report on Thursday, May 11th. Needham & Company LLC cut their target price on Roblox from $53.00 to $48.00 in a research report on Thursday, May 11th. Morgan Stanley upped their target price on Roblox from $24.00 to $26.00 and gave the company an “underweight” rating in a research report on Thursday, February 16th. VNET Group reiterated a “maintains” rating on shares of Roblox in a research report on Monday, May 8th. Finally, Credit Suisse Group upped their target price on Roblox from $37.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, February 16th. Seven analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Roblox currently has an average rating of “Hold” and a consensus price target of $40.22.

Roblox Trading Up 0.6 %

Shares of NYSE:RBLX opened at $38.87 on Friday. The business’s 50 day simple moving average is $40.44 and its two-hundred day simple moving average is $37.14. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.03. Roblox Co. has a 52-week low of $23.88 and a 52-week high of $53.88.

Roblox (NYSE:RBLX – Get Rating) last announced its quarterly earnings results on Wednesday, May 10th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The firm had revenue of $773.82 million during the quarter, compared to the consensus estimate of $764.74 million. Roblox had a negative return on equity of 270.57% and a negative net margin of 44.06%. As a group, equities analysts forecast that Roblox Co. will post -1.82 EPS for the current year.

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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