Adero Partners LLC Cuts Stock Position in Roblox Co. (NYSE:RBLX)

Adero Partners LLC trimmed its position in shares of Roblox Co. (NYSE:RBLX) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,775 shares of the company’s stock after selling 259 shares during the period. Adero Partners LLC’s holdings in Roblox were worth $2,646,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RBLX. Allspring Global Investments Holdings LLC grew its holdings in Roblox by 98.9% during 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 in the last quarter. Empowered Funds LLC grew its holdings in Roblox by 29.5% during the 1st quarter. Empowered Funds LLC now owns 6,267 shares of the company’s stock valued at $239,000 after purchasing an additional 1,426 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Roblox by 261.0% during the 1st quarter. Russell Investments Group Ltd. now owns 120,218 shares of the company’s stock valued at $4,590,000 after purchasing an additional 86,916 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Roblox by 15.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 219,456 shares of the company’s stock valued at $8,379,000 after purchasing an additional 28,580 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in Roblox by 53.2% during the 1st quarter. Intech Investment Management LLC now owns 25,681 shares of the company’s stock worth $981,000 after acquiring an additional 8,914 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Roblox

In other news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The trade was a 4.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anthony P. Lee sold 27,532 shares of Roblox stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.52, for a total transaction of $1,198,192.64. Following the completion of the transaction, the director now directly owns 165,190 shares in the company, valued at $7,189,068.80. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 987,373 shares of company stock valued at $44,831,579 in the last quarter. Insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

RBLX has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC raised their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BTIG Research raised their price objective on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays raised their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Macquarie raised their price target on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. 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 stock has an average rating of “Moderate Buy” and an average price target of $55.30.

Roblox Price Performance

RBLX stock opened at $50.73 on Friday. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $55.10. The firm’s 50-day moving average is $45.43 and its two-hundred day moving average is $40.53. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98.

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