Sunbelt Securities Inc. Buys 1,000 Shares of Roblox Co. (NYSE:RBLX)

Sunbelt Securities Inc. raised its stake in shares of Roblox Co. (NYSE:RBLX) by 43.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,289 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Sunbelt Securities Inc.’s holdings in Roblox were worth $122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RBLX. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Roblox by 6.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,623 shares of the company’s stock valued at $395,000 after acquiring an additional 605 shares in the last quarter. Algert Global LLC bought a new stake in Roblox during the second quarter worth $493,000. Sepio Capital LP boosted its position in Roblox by 8.7% in the second quarter. Sepio Capital LP now owns 12,418 shares of the company’s stock worth $462,000 after purchasing an additional 997 shares during the last quarter. Scientech Research LLC bought a new position in Roblox in the 2nd quarter valued at $437,000. Finally, Mark Asset Management LP increased its position in shares of Roblox by 675.3% during the 2nd quarter. Mark Asset Management LP now owns 80,908 shares of the company’s stock valued at $3,011,000 after purchasing an additional 70,472 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $56.00 price target on shares of Roblox in a report on Tuesday, July 30th. Wolfe Research initiated coverage on shares of Roblox in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Benchmark raised their price target on shares of Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group began coverage on Roblox in a research note on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective on the stock. Finally, Barclays raised their target price on Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Roblox has an average rating of “Moderate Buy” and an average price target of $44.81.

Insider Buying and Selling

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the sale, the chief financial officer now owns 374,633 shares in the company, valued at $14,543,253.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Baszucki sold 166,668 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the completion of the sale, the chief executive officer now directly owns 142,260 shares of the company’s stock, valued at approximately $5,720,274.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 762,341 shares of company stock worth $32,788,526. Corporate insiders own 22.15% of the company’s stock.

Roblox Stock Performance

NYSE:RBLX opened at $42.18 on Friday. The stock has a market cap of $24.94 billion, a P/E ratio of -22.68 and a beta of 1.60. 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 business’s 50-day moving average price is $42.58 and its two-hundred day moving average price is $38.65. Roblox Co. has a twelve month low of $27.90 and a twelve month high of $48.43.

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

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.