abrdn plc Makes New Investment in Roblox Co. (NYSE:RBLX)

abrdn plc acquired a new position in Roblox Co. (NYSE:RBLXGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 78,685 shares of the company’s stock, valued at approximately $3,638,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Altos Ventures Management Inc. purchased a new position in shares of Roblox in the 4th quarter valued at approximately $8,539,770,000. Jennison Associates LLC raised its stake in Roblox by 106.0% during the fourth quarter. Jennison Associates LLC now owns 13,427,652 shares of the company’s stock valued at $1,385,197,000 after buying an additional 6,908,284 shares during the last quarter. ARK Investment Management LLC raised its stake in Roblox by 201.0% during the first quarter. ARK Investment Management LLC now owns 6,092,646 shares of the company’s stock valued at $281,724,000 after buying an additional 4,068,653 shares during the last quarter. Renaissance Technologies LLC raised its stake in Roblox by 131,594.9% during the fourth quarter. Renaissance Technologies LLC now owns 5,399,491 shares of the company’s stock valued at $557,011,000 after buying an additional 5,395,391 shares during the last quarter. Finally, 12 West Capital Management LP raised its stake in Roblox by 12.1% during the fourth quarter. 12 West Capital Management LP now owns 4,162,000 shares of the company’s stock valued at $429,352,000 after buying an additional 450,000 shares during the last quarter. Hedge funds and other institutional investors own 68.00% of the company’s stock.

Insider Activity at Roblox

In related news, CFO Michael Guthrie sold 7,882 shares of Roblox stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $30.34, for a total transaction of $239,139.88. Following the transaction, the chief financial officer now directly owns 208,343 shares in the company, valued at $6,321,126.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael Guthrie sold 7,882 shares of Roblox stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $30.34, for a total transaction of $239,139.88. Following the transaction, the chief financial officer now directly owns 208,343 shares in the company, valued at $6,321,126.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Manuel Bronstein sold 32,695 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $30.34, for a total value of $991,966.30. Following the completion of the transaction, the insider now owns 839,977 shares in the company, valued at $25,484,902.18. The disclosure for this sale can be found here. 28.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. MKM Partners lowered their price objective on Roblox from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, June 16th. Truist Financial cut Roblox from a “buy” rating to a “hold” rating and lowered their price objective for the company from $36.00 to $29.00 in a research note on Friday, June 17th. Bank of America lifted their target price on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 14th. Deutsche Bank Aktiengesellschaft reduced their target price on Roblox from $60.00 to $45.00 in a report on Thursday, May 12th. Finally, The Goldman Sachs Group lowered Roblox from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $39.00 to $28.00 in a report on Thursday, June 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Roblox presently has a consensus rating of “Hold” and a consensus price target of $41.25.

Roblox Stock Performance

Shares of RBLX opened at $42.93 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.73 and a quick ratio of 1.73. Roblox Co. has a one year low of $21.65 and a one year high of $141.60. The firm has a market capitalization of $23.26 billion, a P/E ratio of -47.70 and a beta of 1.49. The business has a fifty day moving average of $34.27 and a 200 day moving average of $43.18.

Roblox (NYSE:RBLXGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.06). The firm had revenue of $631.21 million during the quarter, compared to the consensus estimate of $649.48 million. Roblox had a negative return on equity of 89.70% and a negative net margin of 25.01%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.46) EPS. As a group, sell-side analysts anticipate that Roblox Co. will post -1.04 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.

See Also

Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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