abrdn plc Cuts Stock Position in Roblox Co. (NYSE:RBLX)

abrdn plc decreased its stake in shares of Roblox Co. (NYSE:RBLX) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,585 shares of the company’s stock after selling 7,559 shares during the quarter. abrdn plc’s holdings in Roblox were worth $4,713,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RBLX. Toronto Dominion Bank boosted its stake in Roblox by 34.3% in the 3rd quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock worth $2,660,000 after purchasing an additional 15,333 shares in the last quarter. Smith Group Asset Management LLC lifted its stake in shares of Roblox by 939.6% in the fourth quarter. Smith Group Asset Management LLC now owns 69,030 shares of the company’s stock worth $3,994,000 after buying an additional 62,390 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Roblox during the fourth quarter valued at approximately $363,000. Entropy Technologies LP increased its position in shares of Roblox by 168.4% during the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock valued at $4,410,000 after acquiring an additional 62,521 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Roblox by 12,971.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock worth $2,302,000 after acquiring an additional 51,626 shares during the last quarter. 94.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on RBLX. Needham & Company LLC increased their target price on Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Roblox in a research report on Friday. CICC Research assumed coverage on Roblox in a research report on Tuesday, January 14th. They issued an “outperform” rating for the company. BTIG Research raised their price target on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average price target of $64.19.

Insider Activity at Roblox

In other news, Director Anthony P. Lee sold 250,000 shares of Roblox stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the sale, the director now owns 6,254,137 shares in the company, valued at $406,769,070.48. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Baszucki sold 138,555 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the transaction, the chief executive officer now owns 129,301 shares of the company’s stock, valued at approximately $9,260,537.62. This represents a 51.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is owned by corporate insiders.

Roblox Stock Performance

Shares of RBLX opened at $66.41 on Monday. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock has a market cap of $40.34 billion, a price-to-earnings ratio of -45.80 and a beta of 1.46. The business has a 50-day simple moving average of $62.47 and a two-hundred day simple moving average of $50.76.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 795.19%. On average, analysts expect that Roblox Co. will post -1.4 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.