Wealth Enhancement Advisory Services LLC Decreases Stock Position in Roblox Co. (NYSE:RBLX)

Wealth Enhancement Advisory Services LLC decreased its position in Roblox Co. (NYSE:RBLX) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,518 shares of the company’s stock after selling 2,514 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Roblox were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after purchasing an additional 4,818,022 shares during the period. Baillie Gifford & Co. lifted its holdings in Roblox by 3.1% in the 1st quarter. Baillie Gifford & Co. now owns 28,607,151 shares of the company’s stock worth $1,092,221,000 after buying an additional 867,805 shares in the last quarter. Ieq Capital LLC boosted its position in Roblox by 27.6% in the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after buying an additional 2,684,713 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Roblox by 9.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,493,091 shares of the company’s stock valued at $324,266,000 after acquiring an additional 764,481 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Roblox by 195.1% during the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after acquiring an additional 5,162,833 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Stock Up 1.8 %

RBLX stock opened at $44.16 on Friday. The firm’s 50-day simple moving average is $38.96 and its 200 day simple moving average is $38.02. Roblox Co. has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The stock has a market cap of $26.11 billion, a PE ratio of -23.74 and a beta of 1.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. The business had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts predict that Roblox Co. will post -1.59 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on RBLX. Wedbush reissued an “outperform” rating and issued a $46.00 price target on shares of Roblox in a report on Monday, July 29th. The Goldman Sachs Group increased their target price on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. BTIG Research cut their price target on shares of Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC raised their price objective on shares of Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average target price of $44.15.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 5,724 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $33.30, for a total transaction of $190,609.20. Following the completion of the transaction, the chief executive officer now directly owns 142,260 shares of the company’s stock, valued at approximately $4,737,258. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Roblox news, CEO David Baszucki sold 5,724 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $33.30, for a total value of $190,609.20. Following the sale, the chief executive officer now directly owns 142,260 shares in the company, valued at $4,737,258. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Arvind Chakravarthy sold 13,970 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total transaction of $488,950.00. Following the transaction, the insider now owns 308,996 shares of the company’s stock, valued at approximately $10,814,860. The disclosure for this sale can be found here. Insiders have sold a total of 502,149 shares of company stock valued at $19,076,307 over the last quarter. Corporate 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.