abrdn plc Sells 50,410 Shares of Roblox Co. (NYSE:RBLX)

abrdn plc reduced its holdings in Roblox Co. (NYSE:RBLX) by 36.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 88,144 shares of the company’s stock after selling 50,410 shares during the period. abrdn plc’s holdings in Roblox were worth $3,901,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RBLX. V Square Quantitative Management LLC bought a new stake in Roblox during the third quarter worth approximately $27,000. PARK CIRCLE Co bought a new position in shares of Roblox during the 2nd quarter valued at approximately $30,000. Strategic Financial Concepts LLC purchased a new stake in Roblox during the 2nd quarter valued at $33,000. Gilliland Jeter Wealth Management LLC lifted its position in Roblox by 102.4% in 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. Finally, Washington Trust Advisors Inc. purchased a new position in Roblox during the first quarter worth $39,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Mark Reinstra sold 17,000 shares of Roblox stock in a transaction on Monday, August 19th. The shares were sold at an average price of $40.47, for a total transaction of $687,990.00. Following the completion of the sale, the insider now directly owns 342,656 shares in the company, valued at approximately $13,867,288.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 979,341 shares of company stock valued at $43,897,012. Corporate insiders own 22.15% of the company’s stock.

Wall Street Analyst Weigh In

RBLX has been the subject of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC boosted their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. Raymond James upped their target price on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a research note on Thursday. Canaccord Genuity Group raised their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup upped their price objective on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.55.

Roblox Trading Down 0.5 %

Shares of NYSE RBLX opened at $51.44 on Monday. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $52.65. The business has a fifty day moving average price of $43.67 and a 200 day moving average price of $39.38. The stock has a market capitalization of $30.79 billion, a P/E ratio of -31.37 and a beta of 1.56. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business earned ($0.45) EPS. Equities research analysts expect that Roblox Co. will post -1.58 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.