LPL Financial LLC Lowers Stock Holdings in Roblox Co. (NYSE:RBLX)

LPL Financial LLC cut its holdings in Roblox Co. (NYSE:RBLX) by 10.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 123,306 shares of the company’s stock after selling 15,039 shares during the quarter. LPL Financial LLC’s holdings in Roblox were worth $7,134,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its stake in shares of Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after buying an additional 195 shares in the last quarter. Simon Quick Advisors LLC lifted its position in Roblox by 4.6% during the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after buying an additional 217 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after buying an additional 230 shares during the last quarter. Versant Capital Management Inc grew its holdings in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Roblox by 3.8% in the 4th quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock worth $386,000 after acquiring an additional 245 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Moffett Nathanson downgraded shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target for the company. in a report on Friday, February 7th. Morgan Stanley upped their price objective on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 13th. HSBC started coverage on Roblox in a research report on Thursday, December 12th. They issued a “buy” rating and a $63.00 target price on the stock. Finally, Citigroup upped their target price on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.23.

Roblox Stock Performance

Shares of Roblox stock opened at $52.84 on Monday. The business has a 50-day simple moving average of $62.42 and a 200-day simple moving average of $56.00. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox Co. has a one year low of $29.55 and a one year high of $75.74. The company has a market cap of $32.71 billion, a PE ratio of -36.44 and a beta of 1.49.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, equities research analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amy Marie Rawlings sold 5,879 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total value of $382,135.00. Following the transaction, the chief accounting officer now directly owns 75,528 shares of the company’s stock, valued at $4,909,320. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony P. Lee sold 21,200 shares of Roblox stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $61.37, for a total transaction of $1,301,044.00. Following the sale, the director now owns 6,589,757 shares in the company, valued at $404,413,387.09. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 947,666 shares of company stock valued at $61,513,341 in the last ninety days. Insiders own 22.15% of the company’s stock.

About Roblox

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.