D.A. Davidson & CO. Grows Position in Roblox Co. (NYSE:RBLX)

D.A. Davidson & CO. raised its holdings in shares of Roblox Co. (NYSE:RBLX) by 3.5% during the third quarter, HoldingsChannel reports. The firm owned 23,711 shares of the company’s stock after purchasing an additional 808 shares during the period. D.A. Davidson & CO.’s holdings in Roblox were worth $1,049,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RBLX. Baillie Gifford & Co. boosted its stake in shares of Roblox by 1.9% during the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after purchasing an additional 535,414 shares in the last quarter. FMR LLC boosted its position in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after acquiring an additional 4,115,286 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Roblox by 12.9% in the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after acquiring an additional 1,519,591 shares during the period. Dragoneer Investment Group LLC raised its position in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after acquiring an additional 2,488,044 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Roblox by 17.6% during the 2nd 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. Institutional investors own 91.08% of the company’s stock.

Roblox Price Performance

Shares of RBLX opened at $50.13 on Monday. The business’s 50-day moving average is $46.35 and its two-hundred day moving average is $41.59. The company has a market capitalization of $30.46 billion, a P/E ratio of -30.57 and a beta of 1.56. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $55.10. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98.

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

Analysts Set New Price Targets

Several research firms have issued reports on RBLX. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $38.00 to $65.00 in a research note on Monday, November 4th. Raymond James reiterated a “strong-buy” rating and set a $60.00 price objective on shares of Roblox in a research note on Friday, November 22nd. 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. Needham & Company LLC upped 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. Finally, JPMorgan Chase & Co. increased their price objective on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the sale, the director now directly owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. The trade was a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,013,607 shares of company stock worth $48,434,122 in the last three months. Company insiders own 22.15% of the company’s stock.

Roblox Company Profile

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.