Ridgewood Investments LLC acquired a new position in Roblox Co. (NYSE:RBLX – Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,054 shares of the company’s stock, valued at approximately $137,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP lifted its position in Roblox by 31.5% in the first quarter. Allworth Financial LP now owns 1,964 shares of the company’s stock worth $88,000 after purchasing an additional 470 shares during the period. Natixis lifted its position in Roblox by 423.8% in the fourth quarter. Natixis now owns 70,552 shares of the company’s stock worth $1,995,000 after purchasing an additional 57,084 shares during the period. K.J. Harrison & Partners Inc acquired a new stake in Roblox in the first quarter worth approximately $675,000. Soma Equity Partners LP lifted its position in Roblox by 10.0% in the fourth quarter. Soma Equity Partners LP now owns 2,750,000 shares of the company’s stock worth $78,265,000 after purchasing an additional 250,000 shares during the period. Finally, Putnam Investments LLC acquired a new stake in Roblox in the third quarter worth approximately $3,081,000. 64.57% of the stock is owned by institutional investors.
Roblox Trading Up 2.9 %
Roblox stock opened at $41.15 on Monday. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $23.07 billion, a price-to-earnings ratio of -23.92 and a beta of 1.64. Roblox Co. has a one year low of $25.32 and a one year high of $53.88. The company’s fifty day moving average price is $39.53 and its two-hundred day moving average price is $38.62.
Insiders Place Their Bets
In other news, Director Gregory Baszucki sold 8,333 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $41.28, for a total value of $343,986.24. Following the sale, the director now directly owns 9,871,934 shares of the company’s stock, valued at $407,513,435.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gregory Baszucki sold 8,333 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $41.28, for a total value of $343,986.24. Following the sale, the director now directly owns 9,871,934 shares of the company’s stock, valued at $407,513,435.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Donato sold 2,954 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $39.03, for a total value of $115,294.62. Following the completion of the sale, the insider now directly owns 1,245,143 shares in the company, valued at $48,597,931.29. The disclosure for this sale can be found here. Insiders have sold 841,472 shares of company stock valued at $33,508,858 over the last three months. 27.67% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
RBLX has been the subject of a number of recent research reports. Canaccord Genuity Group initiated coverage on Roblox in a research report on Tuesday, June 13th. They set a “buy” rating and a $48.00 price objective for the company. Roth Capital upgraded Roblox from a “neutral” rating to a “buy” rating in a research report on Thursday, May 11th. Barclays increased their price objective on Roblox from $28.00 to $32.00 in a research report on Thursday, May 11th. Jefferies Financial Group increased their price objective on Roblox from $48.00 to $52.00 in a research report on Thursday, April 6th. Finally, BTIG Research increased their price objective on Roblox from $55.00 to $60.00 in a research report on Wednesday, May 10th. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.54.
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.
Read More
- Five stocks we like better than Roblox
- Enphase Energy is Still Converting Solar Energy into Profits
- Gorilla Technology Skyrockets 124% On Smart Government Contract
- Why Buying The Dip In Alphabet (Google) Could Yield Big Returns
- EV Mixed Signals: Sales Are Rising, But Inventory Slower To Move
- MarketBeat Week in Review – 7/3 – 7/7
Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Co. (NYSE:RBLX – Free Report).
Receive News & Ratings for Roblox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roblox and related companies with MarketBeat.com's FREE daily email newsletter.
