Cerity Partners LLC Buys 77,192 Shares of Roblox Co. (NYSE:RBLX)

Cerity Partners LLC raised its stake in Roblox Co. (NYSE:RBLX) by 434.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,973 shares of the company’s stock after buying an additional 77,192 shares during the period. Cerity Partners LLC’s holdings in Roblox were worth $4,204,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RBLX. Baillie Gifford & Co. increased its holdings in shares of Roblox by 1.9% in the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after buying an additional 535,414 shares during the period. ARK Investment Management LLC lifted its position in Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares during the last quarter. Dragoneer Investment Group LLC boosted its stake in shares of Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Roblox by 17.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company’s stock worth $371,535,000 after purchasing an additional 1,491,726 shares during the last quarter. Finally, Greenvale Capital LLP purchased a new position in shares of Roblox in the second quarter worth $89,304,000. Institutional investors own 91.08% of the company’s stock.

Insiders Place Their Bets

In other Roblox news, insider Manuel Bronstein sold 40,739 shares of Roblox stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $45.00, for a total value of $1,833,255.00. Following the completion of the transaction, the insider now directly owns 727,485 shares of the company’s stock, valued at approximately $32,736,825. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the transaction, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at $14,643,026. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,013,607 shares of company stock valued at $48,434,122. Insiders own 22.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RBLX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their price target on Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Barclays raised their price target on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Trading Up 1.6 %

Shares of NYSE RBLX opened at $50.15 on Friday. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10. The stock has a market cap of $30.47 billion, a P/E ratio of -30.58 and a beta of 1.56. The firm has a 50-day moving average of $46.35 and a 200 day moving average of $41.46. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $919.00 million during 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 986.36%. Roblox’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted ($0.45) EPS. As a group, sell-side analysts expect that Roblox Co. will post -1.56 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.