Truist Financial Corp Makes New Investment in Roblox Co. (NYSE:RBLX)

Truist Financial Corp bought a new stake in Roblox Co. (NYSE:RBLX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,036 shares of the company’s stock, valued at approximately $559,000.

A number of other large investors also recently made changes to their positions in RBLX. PARK CIRCLE Co purchased a new position in Roblox in the second quarter worth $30,000. Gilliland Jeter Wealth Management LLC increased its holdings in Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after buying an additional 506 shares during the last quarter. Washington Trust Advisors Inc. bought a new stake in Roblox in the first quarter worth about $39,000. Allspring Global Investments Holdings LLC boosted its stake in Roblox by 98.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after acquiring an additional 548 shares during the last quarter. Finally, Redwood Wealth Management Group LLC bought a new position in shares of Roblox during the 2nd quarter valued at approximately $48,000. 91.08% of the stock is owned by institutional investors.

Roblox Stock Performance

NYSE RBLX opened at $40.77 on Wednesday. The company has a market capitalization of $24.11 billion, a P/E ratio of -21.92 and a beta of 1.60. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $48.43. The company has a fifty day moving average of $42.87 and a 200-day moving average of $38.89.

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

Wall Street Analysts Forecast Growth

RBLX has been the topic of several research analyst reports. Citigroup upped their price objective on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BTIG Research lifted their price objective on Roblox from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Macquarie upped their price objective on shares of Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wedbush reiterated an “outperform” rating and issued a $49.00 target price on shares of Roblox in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.14.

Insider Transactions at Roblox

In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the sale, the insider now directly owns 276,892 shares in the company, valued at $11,994,961.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total value of $25,645.44. Following the completion of the sale, the insider now owns 276,892 shares in the company, valued at approximately $11,994,961.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 166,666 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.55, for a total transaction of $7,258,304.30. Following the completion of the transaction, the chief executive officer now owns 135,761 shares in the company, valued at $5,912,391.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 625,673 shares of company stock worth $27,331,806. 22.15% of the stock is currently owned by 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.