Point72 Hong Kong Ltd Trims Stock Position in Roblox Co. (NYSE:RBLX)

Point72 Hong Kong Ltd cut its holdings in shares of Roblox Co. (NYSE:RBLX) by 92.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,308 shares of the company’s stock after selling 118,643 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Roblox were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. PARK CIRCLE Co purchased a new position in shares of Roblox in the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Roblox in the 2nd quarter worth about $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Washington Trust Advisors Inc. purchased a new stake in shares of Roblox during the 1st quarter valued at about $39,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after buying an additional 548 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Friday, July 5th. The stock was sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the sale, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $14,168,620.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $37.82, for a total value of $1,134,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,168,620.06. The disclosure for this sale can be found here. Insiders have sold 792,341 shares of company stock valued at $33,923,126 in the last quarter. Corporate insiders own 22.15% of the company’s stock.

Roblox Trading Down 5.8 %

Shares of NYSE RBLX opened at $44.86 on Friday. The company has a market cap of $26.85 billion, a price-to-earnings ratio of -24.12 and a beta of 1.60. Roblox Co. has a 12-month low of $26.78 and a 12-month high of $48.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock’s 50 day simple moving average is $42.29 and its 200 day simple moving average is $38.55.

Roblox (NYSE:RBLX) last announced 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 business had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The business’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.46) EPS. Equities research analysts expect that Roblox Co. will post -1.59 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on RBLX shares. Wedbush reiterated an “outperform” rating and set a $46.00 target price on shares of Roblox in a report on Monday, July 29th. BTIG Research raised their price objective on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Barclays raised their price objective on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on Roblox in a research note on Thursday, July 11th. They set a “hold” rating and a $42.00 price objective for the company. Finally, Benchmark raised their price objective on Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.81.

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.