Prosperity Wealth Management Inc. Buys Shares of 6,404 Roblox Co. (NYSE:RBLX)

Prosperity Wealth Management Inc. bought a new stake in Roblox Co. (NYSE:RBLX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,404 shares of the company’s stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC lifted its holdings in Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after acquiring an additional 4,115,286 shares during the period. Wealthfront Advisers LLC lifted its holdings in Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after acquiring an additional 17,312,325 shares during the period. Ieq Capital LLC lifted its holdings in Roblox by 26.8% in the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after acquiring an additional 3,507,901 shares during the period. State Street Corp lifted its holdings in Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock valued at $480,482,000 after acquiring an additional 240,565 shares during the period. Finally, ValueAct Holdings L.P. lifted its holdings in Roblox by 340.7% in the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after acquiring an additional 7,835,921 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Buying and Selling

In other Roblox news, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $59.75, for a total value of $1,434,000.00. Following the transaction, the insider now directly owns 278,161 shares of the company’s stock, valued at $16,620,119.75. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Guthrie sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $60.14, for a total value of $3,007,000.00. Following the completion of the transaction, the chief financial officer now directly owns 395,465 shares in the company, valued at approximately $23,783,265.10. The trade was a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 916,367 shares of company stock valued at $59,700,949. Corporate insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Roth Mkm raised their price target on Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a research report on Friday, November 22nd. OTR Global upgraded Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. Morgan Stanley raised their price target on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price target on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.19.

Roblox Stock Performance

NYSE RBLX opened at $54.54 on Wednesday. The business’s 50-day simple moving average is $64.07 and its 200-day simple moving average is $54.21. The firm has a market capitalization of $33.76 billion, a P/E ratio of -37.61 and a beta of 1.49. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. Equities analysts predict that Roblox Co. will post -1.49 EPS 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.