Global Assets Advisory LLC Takes Position in Roblox Co. (NYSE:RBLX)

Global Assets Advisory LLC acquired a new position in Roblox Co. (NYSE:RBLX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 115,261 shares of the company’s stock, valued at approximately $4,401,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Roblox by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 46,264,280 shares of the company’s stock valued at $2,115,203,000 after purchasing an additional 1,671,272 shares during the last quarter. Morgan Stanley increased its stake in shares of Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after buying an additional 4,927,848 shares during the period. Ieq Capital LLC lifted its stake in Roblox by 6.3% in the fourth quarter. Ieq Capital LLC now owns 9,725,211 shares of the company’s stock worth $444,637,000 after acquiring an additional 573,463 shares during the period. Franklin Resources Inc. boosted its position in shares of Roblox by 195.1% during the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock valued at $357,043,000 after purchasing an additional 5,162,833 shares in the last quarter. Finally, Norges Bank bought a new position in Roblox in the fourth quarter worth $216,194,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Stock Performance

RBLX opened at $35.20 on Tuesday. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of -18.92 and a beta of 1.58. The company has a fifty day moving average of $34.95 and a 200 day moving average of $38.86. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07. Roblox Co. has a fifty-two week low of $24.88 and a fifty-two week high of $47.20.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $923.76 million during the quarter, compared to analyst estimates of $918.85 million. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.44) earnings per share. As a group, sell-side analysts forecast that Roblox Co. will post -1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on RBLX shares. BMO Capital Markets reissued an “outperform” rating and set a $56.00 price target (down from $57.00) on shares of Roblox in a research report on Monday, May 13th. Morgan Stanley dropped their price target on shares of Roblox from $42.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company upped their target price on shares of Roblox from $37.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. BTIG Research decreased their price objective on shares of Roblox from $54.00 to $46.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Wedbush lowered their target price on shares of Roblox from $56.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Insider Activity at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $36.06, for a total value of $1,081,800.00. Following the sale, the chief financial officer now directly owns 396,709 shares in the company, valued at approximately $14,305,326.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $36.06, for a total value of $1,081,800.00. Following the completion of the transaction, the chief financial officer now owns 396,709 shares in the company, valued at approximately $14,305,326.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 166,666 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $35.12, for a total transaction of $5,853,309.92. Following the transaction, the chief executive officer now owns 142,260 shares in the company, valued at approximately $4,996,171.20. The disclosure for this sale can be found here. Insiders have sold a total of 414,221 shares of company stock valued at $14,741,995 over the last 90 days. 22.15% of the stock is owned by corporate insiders.

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.