Independent Advisor Alliance Increases Stock Holdings in Roblox Co. (NYSE:RBLX)

Independent Advisor Alliance grew its holdings in shares of Roblox Co. (NYSE:RBLX) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,178 shares of the company’s stock after purchasing an additional 2,132 shares during the period. Independent Advisor Alliance’s holdings in Roblox were worth $647,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC grew its holdings in shares of Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares in the last quarter. Versant Capital Management Inc boosted its position in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after acquiring an additional 230 shares in the last quarter. Huntington National Bank increased its position in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after acquiring an additional 770 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of Roblox by 33,875.0% in the third quarter. True Wealth Design LLC now owns 1,359 shares of the company’s stock valued at $60,000 after acquiring an additional 1,355 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Michael Guthrie sold 50,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $60.14, for a total value of $3,007,000.00. Following the completion of the transaction, the chief financial officer now directly owns 395,465 shares of the company’s stock, valued at approximately $23,783,265.10. This trade represents a 11.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Baszucki sold 138,555 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total value of $9,923,309.10. Following the sale, the chief executive officer now directly owns 129,301 shares in the company, valued at $9,260,537.62. This trade represents a 51.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 916,367 shares of company stock valued at $59,700,949. 22.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on RBLX shares. HSBC assumed coverage on Roblox in a research note on Thursday, December 12th. They set a “buy” rating and a $63.00 target price for the company. CICC Research initiated coverage on shares of Roblox in a research note on Tuesday, January 14th. They set an “outperform” rating on the stock. The Goldman Sachs Group lifted their price target on shares of Roblox from $55.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Wedbush reissued an “outperform” rating and issued a $83.00 price objective on shares of Roblox in a research report on Friday, February 7th. Finally, Morgan Stanley lifted their price objective on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.19.

Roblox Stock Up 1.4 %

Shares of NYSE:RBLX opened at $56.51 on Monday. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. 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 firm’s 50-day simple moving average is $63.91 and its 200-day simple moving average is $54.47. The company has a market cap of $34.98 billion, a price-to-earnings ratio of -38.97 and a beta of 1.49.

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