Marshall Wace LLP Makes New Investment in Roblox Co. (NYSE:RBLX)

Marshall Wace LLP bought a new position in shares of Roblox Co. (NYSE:RBLX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,352,676 shares of the company’s stock, valued at approximately $87,543,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PARK CIRCLE Co acquired a new position in shares of Roblox in the 2nd quarter valued at $30,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox during the first quarter worth about $39,000. Allspring Global Investments Holdings LLC boosted its position in shares of Roblox by 98.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after purchasing an additional 548 shares during the period. Finally, Redwood Wealth Management Group LLC acquired a new position in Roblox during the second quarter worth approximately $48,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Mark Reinstra sold 17,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $45.58, for a total value of $774,860.00. Following the sale, the insider now directly owns 327,009 shares in the company, valued at $14,905,070.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roblox news, insider Mark Reinstra sold 17,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $45.58, for a total value of $774,860.00. Following the completion of the transaction, the insider now directly owns 327,009 shares in the company, valued at approximately $14,905,070.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 4,933 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the transaction, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 779,341 shares of company stock valued at $33,302,376. Corporate insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 target price on the stock. Benchmark increased their target price on shares of Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price objective on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Roth Mkm boosted their target price on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, BTIG Research increased their price target on Roblox from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued 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 $44.40.

Roblox Stock Up 3.5 %

RBLX opened at $47.11 on Wednesday. Roblox Co. has a one year low of $24.88 and a one year high of $47.49. The company has a market cap of $28.20 billion, a price-to-earnings ratio of -25.33 and a beta of 1.60. The business’s fifty day moving average is $42.04 and its two-hundred day moving average is $38.44. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03.

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