Arete Wealth Advisors LLC Purchases New Position in Roblox Co. (NYSE:RBLX)

Posted by Defense World Staff on Sep 16th, 2023

Arete Wealth Advisors LLC purchased a new stake in Roblox Co. (NYSE:RBLX – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,558 shares of the company’s stock, valued at approximately $565,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Slow Capital Inc. purchased a new position in shares of Roblox in the 1st quarter valued at about $31,000. 1832 Asset Management L.P. acquired a new stake in Roblox in the 1st quarter worth about $32,000. James Investment Research Inc. acquired a new stake in Roblox in the 1st quarter worth about $33,000. Fifth Third Bancorp boosted its holdings in Roblox by 62.5% in the 1st quarter. Fifth Third Bancorp now owns 759 shares of the company’s stock worth $34,000 after buying an additional 292 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in Roblox in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 69.92% of the company’s stock.

Roblox Stock Up 0.7 %

RBLX stock opened at $27.95 on Friday. The firm has a market cap of $15.84 billion, a PE ratio of -14.87 and a beta of 1.69. The company has a debt-to-equity ratio of 6.12, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s 50 day moving average price is $33.76 and its 200-day moving average price is $38.32. Roblox Co. has a one year low of $25.32 and a one year high of $47.67.

Roblox (NYSE:RBLX – Get Free Report) last announced its earnings results on Wednesday, August 9th. The company reported ($0.46) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.46). The company had revenue of $780.69 million for the quarter, compared to analyst estimates of $784.99 million. Roblox had a negative return on equity of 399.93% and a negative net margin of 46.81%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) earnings per share. On average, equities research analysts anticipate that Roblox Co. will post -1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

RBLX has been the topic of several research analyst reports. Benchmark lowered their price objective on Roblox from $45.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on Roblox from $55.00 to $45.00 in a report on Thursday, August 10th. Stifel Nicolaus lowered their price objective on Roblox from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Truist Financial lowered their price objective on Roblox from $45.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, August 17th. Finally, Needham & Company LLC lowered their target price on Roblox from $48.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.36.

Read Our Latest Stock Report on RBLX

Insider Buying and Selling at Roblox

In other Roblox news, Director Gregory Baszucki sold 8,333 shares of the business’s stock in a transaction that occurred on 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 owns 9,871,934 shares of the company’s stock, valued at $407,513,435.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Michael Guthrie sold 14,363 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $27.14, for a total transaction of $389,811.82. Following the sale, the chief financial officer now owns 272,937 shares of the company’s stock, valued at $7,407,510.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Baszucki sold 8,333 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $41.28, for a total transaction of $343,986.24. Following the transaction, the director now owns 9,871,934 shares of the company’s stock, valued at approximately $407,513,435.52. The disclosure for this sale can be found here. Insiders have sold a total of 981,875 shares of company stock valued at $32,192,224 over the last quarter. 27.67% of the stock is owned by company insiders.

Roblox Company Profile

(Free Report)

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.