Commonwealth Equity Services LLC Reduces Holdings in Roblox Co. (NYSE:RBLX)

Commonwealth Equity Services LLC trimmed its position in shares of Roblox Co. (NYSE:RBLX – Get Rating) by 7.4% in the 3rd quarter, Holdings Channel reports. The firm owned 97,893 shares of the company’s stock after selling 7,776 shares during the period. Commonwealth Equity Services LLC’s holdings in Roblox were worth $3,508,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of Roblox by 41.4% during the third quarter. Baillie Gifford & Co. now owns 20,906,989 shares of the company’s stock worth $749,306,000 after purchasing an additional 6,123,973 shares in the last quarter. Vanguard Group Inc. grew its holdings in Roblox by 39.4% in the 1st quarter. Vanguard Group Inc. now owns 16,084,809 shares of the company’s stock valued at $743,762,000 after buying an additional 4,546,253 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Roblox by 161.0% in the 2nd quarter. Renaissance Technologies LLC now owns 11,580,582 shares of the company’s stock valued at $380,538,000 after buying an additional 7,143,300 shares in the last quarter. ARK Investment Management LLC grew its holdings in Roblox by 14.4% in the 3rd quarter. ARK Investment Management LLC now owns 8,474,696 shares of the company’s stock valued at $303,733,000 after buying an additional 1,069,592 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Roblox by 69.3% in the 3rd quarter. Jennison Associates LLC now owns 7,102,954 shares of the company’s stock valued at $254,570,000 after buying an additional 2,908,270 shares in the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Trading Down 3.4 %

Shares of NYSE:RBLX opened at $39.94 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 3.24. Roblox Co. has a 52 week low of $21.65 and a 52 week high of $53.88. The business has a fifty day simple moving average of $36.25 and a 200-day simple moving average of $36.36.

Roblox (NYSE:RBLX – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The firm had revenue of $899.40 million during the quarter, compared to the consensus estimate of $884.71 million. Roblox had a negative return on equity of 200.01% and a negative net margin of 41.54%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.25) earnings per share. On average, sell-side analysts predict that Roblox Co. will post -1.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RBLX shares. Credit Suisse Group upped their price target on Roblox from $37.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, February 16th. Oppenheimer started coverage on Roblox in a research note on Wednesday, January 25th. They issued a “market perform” rating on the stock. Barclays upped their price target on Roblox from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Wednesday, January 25th. Wolfe Research lowered Roblox from a “market perform” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research note on Wednesday, December 21st. Finally, BTIG Research upped their price target on Roblox from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.42.

Insiders Place Their Bets

In related news, CAO Amy Marie Rawlings sold 3,178 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $37.85, for a total value of $120,287.30. Following the transaction, the chief accounting officer now owns 90,745 shares in the company, valued at $3,434,698.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO David Baszucki sold 550,000 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $38.14, for a total value of $20,977,000.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $38.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amy Marie Rawlings sold 3,178 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $37.85, for a total value of $120,287.30. Following the completion of the sale, the chief accounting officer now directly owns 90,745 shares of the company’s stock, valued at $3,434,698.25. The disclosure for this sale can be found here. Insiders have sold a total of 619,378 shares of company stock worth $23,576,761 over the last quarter. 28.22% of the stock is owned by corporate insiders.

Roblox Company 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.