Pitcairn Co. Makes New Investment in Roblox Co. (NYSE:RBLX)

Pitcairn Co. acquired a new position in shares of Roblox Co. (NYSE:RBLX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,524 shares of the company’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Roblox during the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC boosted its stake in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after buying an additional 624 shares in the last quarter. PARK CIRCLE Co bought a new stake in Roblox in the second quarter valued at $30,000. Strategic Financial Concepts LLC acquired a new position in Roblox during the second quarter worth $33,000. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares during the period. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Raymond James reiterated a “strong-buy” rating and set a $60.00 target price on shares of Roblox in a research report on Friday, November 22nd. Wells Fargo & Company raised their price objective on shares of Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $65.00 in a research report on Monday, November 4th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up from $56.00) on shares of Roblox in a research note on Friday, November 1st. Seven 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $45.56, for a total value of $7,593,302.96. Following the transaction, the chief executive officer now owns 135,755 shares of the company’s stock, valued at approximately $6,184,997.80. The trade was a 55.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 3,601 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $49.32, for a total transaction of $177,601.32. Following the sale, the chief accounting officer now directly owns 81,407 shares of the company’s stock, valued at $4,014,993.24. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,013,607 shares of company stock worth $48,434,122. Company insiders own 22.15% of the company’s stock.

Roblox Trading Up 0.6 %

NYSE RBLX opened at $49.37 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $55.10. The company has a market capitalization of $29.99 billion, a PE ratio of -30.10 and a beta of 1.56. The stock has a 50-day simple moving average of $46.21 and a 200 day simple moving average of $41.27.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company posted ($0.45) EPS. Roblox’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts forecast that Roblox Co. will post -1.56 EPS for the current 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.