Van ECK Associates Corp cut its position in shares of Roblox Co. (NYSE:RBLX - Free Report) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,265,466 shares of the company's stock after selling 23,207 shares during the period. Van ECK Associates Corp owned 0.21% of Roblox worth $47,088,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its position in Roblox by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company's stock valued at $2,318,000 after acquiring an additional 1,419 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Roblox by 3,188.8% during the 4th quarter. International Assets Investment Management LLC now owns 84,719 shares of the company's stock worth $3,873,000 after purchasing an additional 82,143 shares during the last quarter. Kodai Capital Management LP bought a new position in shares of Roblox during the 4th quarter valued at $6,805,000. SteelPeak Wealth LLC lifted its stake in shares of Roblox by 41.4% in the 1st quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company's stock valued at $423,000 after purchasing an additional 3,247 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Roblox by 18.3% in the first quarter. Sei Investments Co. now owns 288,112 shares of the company's stock worth $11,000,000 after purchasing an additional 44,557 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.
Roblox Price Performance
Shares of Roblox stock traded up $0.42 during midday trading on Friday, hitting $43.99. 5,261,596 shares of the company were exchanged, compared to its average volume of 7,335,138. The firm has a 50 day simple moving average of $39.76 and a 200-day simple moving average of $38.05. Roblox Co. has a 52 week low of $24.88 and a 52 week high of $47.20. The firm has a market cap of $26.01 billion, a P/E ratio of -23.65 and a beta of 1.60. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03.
Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. The company had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm's revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.46) EPS. Research analysts forecast that Roblox Co. will post -1.59 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on RBLX. Roth Mkm raised their target price on Roblox from $35.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Wolfe Research began coverage on shares of Roblox in a research report on Tuesday, July 16th. They set a "peer perform" rating for the company. Morgan Stanley lowered their target price on Roblox from $42.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft upped their price target on Roblox from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Roblox from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.15.
Check Out Our Latest Research Report on RBLX
Insiders Place Their Bets
In related news, insider Arvind Chakravarthy sold 592 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the sale, the insider now directly owns 276,892 shares of the company's stock, valued at approximately $11,994,961.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the business's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares in the company, valued at $4,019,545.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Arvind Chakravarthy sold 592 shares of the company's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the transaction, the insider now owns 276,892 shares in the company, valued at $11,994,961.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 730,649 shares of company stock valued at $29,104,359. 22.15% of the stock is currently owned by insiders.
Roblox Company Profile
(Free Report)
Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It 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 experience; and Roblox Cloud, which provides services and infrastructure that power the platform.
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