Fulton Bank N.A. Takes $310,000 Position in Roblox Co. (NYSE:RBLX)

Fulton Bank N.A. bought a new position in shares of Roblox Co. (NYSE:RBLX) in the second quarter, HoldingsChannel.com reports. The firm bought 8,334 shares of the company’s stock, valued at approximately $310,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBLX. DNB Asset Management AS raised its position in shares of Roblox by 16.2% during the second quarter. DNB Asset Management AS now owns 75,508 shares of the company’s stock valued at $2,810,000 after buying an additional 10,504 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Roblox by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after buying an additional 1,419 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Roblox by 7.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 198,237 shares of the company’s stock valued at $7,569,000 after buying an additional 13,200 shares during the last quarter. Cetera Advisors LLC raised its position in shares of Roblox by 45.2% during the first quarter. Cetera Advisors LLC now owns 17,279 shares of the company’s stock valued at $660,000 after buying an additional 5,377 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Roblox during the first quarter valued at about $2,024,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RBLX. Needham & Company LLC upped their price objective on shares of Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. Benchmark upped their target price on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised shares of Roblox from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Roth Capital lowered shares of Roblox from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company increased their price target on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $127,309.60. Following the transaction, the chief accounting officer now directly owns 98,457 shares of the company’s stock, valued at $3,205,759.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total value of $525,850.00. Following the completion of the sale, the director now owns 9,708,603 shares in the company, valued at approximately $392,712,991.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $127,309.60. Following the sale, the chief accounting officer now directly owns 98,457 shares in the company, valued at approximately $3,205,759.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 476,889 shares of company stock valued at $17,575,955. 22.15% of the stock is currently owned by insiders.

Roblox Price Performance

Shares of Roblox stock traded up $1.14 during midday trading on Tuesday, reaching $37.67. The company had a trading volume of 9,989,246 shares, compared to its average volume of 5,541,735. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of -20.25 and a beta of 1.60. The stock has a fifty day simple moving average of $37.65 and a 200 day simple moving average of $38.04. Roblox Co. has a 1-year low of $24.88 and a 1-year high of $47.20.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $893.50 million during the quarter, compared to analyst estimates of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,285.39%. Roblox’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.46) earnings per share. As a group, equities research analysts forecast that Roblox Co. will post -1.64 earnings per share for the current year.

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.