Kestra Private Wealth Services LLC boosted its holdings in shares of Roblox Co. (NYSE:RBLX – Get Rating) by 54.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,871 shares of the company’s stock after acquiring an additional 2,067 shares during the period. Kestra Private Wealth Services LLC’s holdings in Roblox were worth $271,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Highlander Capital Management LLC purchased a new stake in shares of Roblox in the first quarter valued at $25,000. 1832 Asset Management L.P. acquired a new position in Roblox in the 1st quarter valued at about $32,000. RE Dickinson Investment Advisors LLC acquired a new stake in shares of Roblox during the 1st quarter worth about $33,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Roblox during the 4th quarter worth about $34,000. Finally, Cornerstone Advisory LLC purchased a new stake in shares of Roblox during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. Wolfe Research started coverage on shares of Roblox in a research note on Tuesday, August 16th. They set a “market perform” rating on the stock. Citigroup raised their price objective on Roblox to $55.00 in a report on Monday, August 22nd. MKM Partners upped their target price on Roblox from $28.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target on Roblox from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Finally, BTIG Research upped their price objective on shares of Roblox to $58.00 in a research note on Monday, August 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.78.
Roblox Stock Down 1.6 %
Roblox (NYSE:RBLX – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.06). The company had revenue of $639.90 million for the quarter, compared to analysts’ expectations of $625.43 million. Roblox had a negative net margin of 25.11% and a negative return on equity of 95.60%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.25) earnings per share. Research analysts anticipate that Roblox Co. will post -1.23 EPS for the current fiscal year.
In other Roblox news, CEO David Baszucki sold 550,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $41.41, for a total value of $22,775,500.00. Following the transaction, the chief executive officer now owns 1 shares in the company, valued at approximately $41.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Craig Donato sold 2,000 shares of Roblox stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $44.38, for a total value of $88,760.00. Following the completion of the sale, the insider now owns 1,172,941 shares in the company, valued at $52,055,121.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Baszucki sold 550,000 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $41.41, for a total transaction of $22,775,500.00. Following the transaction, the chief executive officer now owns 1 shares in the company, valued at $41.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 709,960 shares of company stock worth $30,377,942. 28.22% of the stock is currently owned by company insiders.
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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