Douglas Lane & Associates LLC Reduces Holdings in Roblox Co. (NYSE:RBLX)

Douglas Lane & Associates LLC lowered its stake in Roblox Co. (NYSE:RBLX) by 63.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,177 shares of the company’s stock after selling 71,543 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Roblox were worth $2,383,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RBLX. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox during the second quarter valued at $33,000. Acadian Asset Management LLC boosted its stake in shares of Roblox by 219.7% during the 2nd quarter. Acadian Asset Management LLC now owns 90,396 shares of the company’s stock worth $3,360,000 after purchasing an additional 62,125 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Roblox during the second quarter worth about $84,000. Choreo LLC purchased a new position in shares of Roblox during the second quarter valued at approximately $754,000. Finally, Royal London Asset Management Ltd. boosted its position in Roblox by 3.7% during the second quarter. Royal London Asset Management Ltd. now owns 203,106 shares of the company’s stock worth $7,558,000 after acquiring an additional 7,341 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Stock Up 1.2 %

Shares of NYSE:RBLX opened at $62.03 on Thursday. The company has a market capitalization of $37.69 billion, a price-to-earnings ratio of -37.82 and a beta of 1.43. The company has a 50 day moving average of $55.53 and a two-hundred day moving average of $46.33. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $63.58. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

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 ($0.39) 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned ($0.45) EPS. The business’s revenue was up 9.5% on a year-over-year basis. As a group, analysts forecast that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RBLX shares. Piper Sandler boosted their price target on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted 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. Needham & Company LLC increased their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Morgan Stanley upgraded shares of Roblox from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $65.00 in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 166,668 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the completion of the sale, the chief executive officer now owns 135,755 shares of the company’s stock, valued at approximately $5,722,073.25. This trade represents a 55.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 10,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $49.44, for a total transaction of $494,400.00. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $17,444,607.36. This represents a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,254,601 shares of company stock valued at $65,622,735. 22.15% of the stock is currently owned by insiders.

Roblox 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.