Independent Advisor Alliance Sells 1,065 Shares of Roblox Co. (NYSE:RBLX)

Independent Advisor Alliance reduced its stake in Roblox Co. (NYSE:RBLX) by 10.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 9,046 shares of the company’s stock after selling 1,065 shares during the quarter. Independent Advisor Alliance’s holdings in Roblox were worth $400,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC raised its holdings in shares of Roblox by 3.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares during the period. Swedbank AB increased its holdings in Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after acquiring an additional 285 shares during the last quarter. Metis Global Partners LLC raised its stake in Roblox by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock valued at $266,000 after acquiring an additional 288 shares during the period. Thrive Wealth Management LLC lifted its holdings in Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after purchasing an additional 300 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Roblox by 5.0% during the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock worth $296,000 after purchasing an additional 321 shares during the period. Institutional investors own 91.08% of the company’s stock.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Manuel Bronstein sold 10,492 shares of Roblox stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $49.45, for a total transaction of $518,829.40. Following the transaction, the insider now owns 618,154 shares of the company’s stock, valued at $30,567,715.30. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,013,607 shares of company stock worth $48,434,122 in the last quarter. 22.15% of the stock is owned by company insiders.

Roblox Stock Up 0.6 %

Shares of NYSE RBLX opened at $49.37 on Friday. The firm has a fifty day simple moving average of $46.21 and a two-hundred day simple moving average of $41.27. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $55.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a market capitalization of $29.99 billion, a PE ratio of -30.10 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) earnings per share. Equities analysts expect that Roblox Co. will post -1.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Roblox in a research report on Friday, November 1st. BTIG Research boosted their target price on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price target on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Barclays boosted their price objective on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Citigroup raised their target price on Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.30.

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.