Raymond James Financial Inc. Invests $24.22 Million in Roblox Co. (NYSE:RBLX)

Raymond James Financial Inc. acquired a new position in Roblox Co. (NYSE:RBLX) during the 4th quarter, Holdings Channel reports. The firm acquired 418,545 shares of the company’s stock, valued at approximately $24,217,000.

Several other institutional investors have also recently made changes to their positions in RBLX. FMR LLC raised its stake in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the period. Ieq Capital LLC raised its stake in Roblox by 26.8% during the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after acquiring an additional 3,507,901 shares during the period. State Street Corp raised its stake in Roblox by 2.3% during the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after acquiring an additional 240,565 shares during the period. ValueAct Holdings L.P. raised its stake in Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after acquiring an additional 7,835,921 shares during the period. Finally, Geode Capital Management LLC raised its stake in Roblox by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock worth $368,003,000 after acquiring an additional 408,915 shares during the period. Institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RBLX shares. Wedbush restated an “outperform” rating and set a $83.00 target price on shares of Roblox in a research note on Friday, February 7th. Raymond James reiterated a “strong-buy” rating and set a $60.00 price objective on shares of Roblox in a research report on Friday, November 22nd. HSBC initiated coverage on shares of Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective on the stock. Macquarie lifted their price objective on shares of Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Benchmark lifted their price objective on shares of Roblox from $60.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $64.19.

Insiders Place Their Bets

In other news, CFO Michael Guthrie sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $60.14, for a total transaction of $3,007,000.00. Following the completion of the sale, the chief financial officer now directly owns 395,465 shares of the company’s stock, valued at approximately $23,783,265.10. The trade was a 11.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Reinstra sold 24,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 916,367 shares of company stock valued at $59,700,949 over the last three months. 22.15% of the stock is owned by company insiders.

Roblox Stock Up 1.4 %

NYSE RBLX opened at $56.51 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company has a fifty day moving average of $63.91 and a two-hundred day moving average of $54.40. The firm has a market capitalization of $34.98 billion, a price-to-earnings ratio of -38.97 and a beta of 1.49. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, analysts predict that Roblox Co. will post -1.49 earnings per share for the current year.

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.