MAI Capital Management bought a new position in Roblox Co. (NYSE:RBLX – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,326 shares of the company’s stock, valued at approximately $285,000.
A number of other institutional investors have also recently modified their holdings of RBLX. Bank of New York Mellon Corp grew its stake in shares of Roblox by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 788,954 shares of the company’s stock worth $36,481,000 after acquiring an additional 39,203 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Roblox by 7.9% in the first quarter. PNC Financial Services Group Inc. now owns 18,574 shares of the company’s stock worth $860,000 after acquiring an additional 1,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Roblox by 949.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,062 shares of the company’s stock worth $928,000 after acquiring an additional 18,150 shares during the last quarter. BlackRock Inc. grew its stake in shares of Roblox by 265.4% in the first quarter. BlackRock Inc. now owns 311,209 shares of the company’s stock worth $14,390,000 after acquiring an additional 226,029 shares during the last quarter. Finally, Cibc World Market Inc. grew its stake in shares of Roblox by 62.0% in the first quarter. Cibc World Market Inc. now owns 92,495 shares of the company’s stock worth $4,277,000 after acquiring an additional 35,412 shares during the last quarter. 64.57% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Benchmark lowered their price target on Roblox from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Citigroup lowered their price target on Roblox from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, August 17th. Barclays lowered their price target on Roblox from $32.00 to $26.00 and set an “underweight” rating on the stock in a report on Thursday, August 10th. Truist Financial lowered their price target on Roblox from $45.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, August 17th. Finally, Stifel Nicolaus lowered their price target on Roblox from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Roblox currently has an average rating of “Hold” and an average target price of $38.04.
Roblox Stock Performance
NYSE:RBLX opened at $26.55 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 6.12. Roblox Co. has a 12-month low of $25.32 and a 12-month high of $47.67. The stock has a 50-day moving average price of $37.68 and a 200 day moving average price of $39.44.
Roblox (NYSE:RBLX – Get Free Report) last released its earnings results on Wednesday, August 9th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.46). Roblox had a negative return on equity of 399.93% and a negative net margin of 46.81%. The firm had revenue of $780.69 million during the quarter, compared to analysts’ expectations of $784.99 million. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. On average, sell-side analysts expect that Roblox Co. will post -1.91 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CTO Daniel Sturman sold 9,204 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $27.14, for a total transaction of $249,796.56. Following the completion of the sale, the chief technology officer now owns 504,771 shares in the company, valued at $13,699,484.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roblox news, CAO Amy Marie Rawlings sold 3,089 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $27.14, for a total transaction of $83,835.46. Following the completion of the transaction, the chief accounting officer now owns 92,556 shares in the company, valued at approximately $2,511,969.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Daniel Sturman sold 9,204 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $27.14, for a total value of $249,796.56. Following the transaction, the chief technology officer now owns 504,771 shares of the company’s stock, valued at approximately $13,699,484.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 973,542 shares of company stock worth $31,966,983. 27.67% of the stock is owned by corporate insiders.
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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