Strategic Financial Concepts LLC Invests $33,000 in Roblox Co. (NYSE:RBLX)

Strategic Financial Concepts LLC acquired a new stake in shares of Roblox Co. (NYSE:RBLX) during the second quarter, HoldingsChannel reports. The institutional investor acquired 88,800 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in Roblox by 195.1% in the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock valued at $357,043,000 after acquiring an additional 5,162,833 shares during the last quarter. Vanguard Group Inc. lifted its position in Roblox by 10.4% during the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after buying an additional 4,818,022 shares during the period. Norges Bank purchased a new position in Roblox during the fourth quarter worth about $216,194,000. Ieq Capital LLC boosted its stake in Roblox by 27.6% in the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after buying an additional 2,684,713 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Roblox by 836.1% in the 4th quarter. First Trust Advisors LP now owns 2,739,514 shares of the company’s stock valued at $125,251,000 after buying an additional 2,446,867 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Trading Up 0.2 %

RBLX opened at $44.98 on Thursday. The firm’s 50 day moving average is $40.90 and its 200-day moving average is $38.09. Roblox Co. has a 52-week low of $24.88 and a 52-week high of $47.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The firm has a market capitalization of $26.60 billion, a P/E ratio of -24.18 and a beta of 1.60.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. The firm had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) EPS. Analysts expect that Roblox Co. will post -1.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Roblox news, insider Manuel Bronstein sold 40,739 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $45.00, for a total transaction of $1,833,255.00. Following the completion of the sale, the insider now owns 727,485 shares in the company, valued at approximately $32,736,825. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total value of $476,710.00. Following the sale, the director now owns 9,721,603 shares in the company, valued at approximately $356,491,182.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Manuel Bronstein sold 40,739 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $45.00, for a total transaction of $1,833,255.00. Following the transaction, the insider now directly owns 727,485 shares in the company, valued at approximately $32,736,825. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 589,852 shares of company stock worth $24,563,854. 22.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays lifted their price target on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Needham & Company LLC upped their price objective on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Macquarie boosted their price target on Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, BTIG Research upped their price target on Roblox from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Roblox Company Profile

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.