Baird Financial Group Inc. Has $1.12 Million Holdings in Roblox Co. (NYSE:RBLX)

Baird Financial Group Inc. grew its position in shares of Roblox Co. (NYSE:RBLXGet Rating) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,135 shares of the company’s stock after purchasing an additional 545 shares during the quarter. Baird Financial Group Inc.’s holdings in Roblox were worth $1,122,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Roblox by 39.4% during the first quarter. Vanguard Group Inc. now owns 16,084,809 shares of the company’s stock valued at $743,762,000 after purchasing an additional 4,546,253 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Roblox by 88.5% during the second quarter. Baillie Gifford & Co. now owns 14,783,016 shares of the company’s stock valued at $485,770,000 after purchasing an additional 6,941,347 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Roblox by 21.5% during the second quarter. ARK Investment Management LLC now owns 7,405,104 shares of the company’s stock valued at $221,709,000 after purchasing an additional 1,312,458 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Roblox by 57.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,824,717 shares of the company’s stock valued at $158,540,000 after purchasing an additional 1,759,384 shares in the last quarter. Finally, Coatue Management LLC boosted its stake in shares of Roblox by 61.7% during the first quarter. Coatue Management LLC now owns 4,792,393 shares of the company’s stock valued at $221,600,000 after purchasing an additional 1,829,172 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Roblox Trading Down 2.5 %

NYSE RBLX opened at $31.72 on Friday. The company has a market cap of $17.43 billion, a price-to-earnings ratio of -24.03 and a beta of 1.87. Roblox Co. has a 52 week low of $21.65 and a 52 week high of $141.60. The business has a 50 day moving average price of $39.32 and a 200-day moving average price of $37.50. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.33.

Insider Activity

In related news, CEO David Baszucki sold 550,000 shares of Roblox stock in a transaction that occurred on Tuesday, August 23rd. The stock was 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 of the company’s stock, valued at $41.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO David Baszucki sold 550,000 shares of Roblox stock in a transaction that occurred on Tuesday, August 23rd. The stock was 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 of the company’s stock, valued at $41.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Reinstra sold 6,737 shares of Roblox stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $41.52, for a total value of $279,720.24. Following the transaction, the insider now directly owns 177,089 shares in the company, valued at approximately $7,352,735.28. The disclosure for this sale can be found here. Insiders sold a total of 611,508 shares of company stock worth $25,411,808 over the last quarter. 28.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RBLX shares. Cowen cut their price target on Roblox to $27.00 in a research note on Tuesday. JPMorgan Chase & Co. downgraded Roblox from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $53.00 to $35.00 in a research report on Thursday, November 10th. Barclays started coverage on Roblox in a research report on Tuesday, October 11th. They set an “underweight” rating and a $20.00 price objective for the company. BTIG Research lowered their price objective on Roblox from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, October 13th. Finally, Wedbush lowered their price objective on Roblox from $36.00 to $33.00 in a research report on Wednesday, November 9th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Roblox has a consensus rating of “Hold” and an average price target of $41.26.

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.

Further Reading

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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