Independent Advisor Alliance Has $400,000 Holdings in Roblox Co. (NYSE:RBLX)

Independent Advisor Alliance decreased its holdings in shares of Roblox Co. (NYSE:RBLX) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RBLX. DekaBank Deutsche Girozentrale boosted its holdings in shares of Roblox by 2.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after acquiring an additional 1,419 shares in the last quarter. Entropy Technologies LP boosted its stake in shares of Roblox by 168.4% during the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock valued at $4,410,000 after purchasing an additional 62,521 shares in the last quarter. Dragoneer Investment Group LLC grew its holdings in shares of Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Roblox by 62.0% in the second quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after buying an additional 14,348 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc raised its holdings in Roblox by 23.2% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock valued at $19,783,000 after buying an additional 84,198 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. This represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,013,607 shares of company stock worth $48,434,122 over the last 90 days. 22.15% of the stock is currently owned by corporate insiders.

Roblox Stock Performance

RBLX opened at $49.37 on Friday. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $55.10. The company has a market cap of $29.99 billion, a price-to-earnings ratio of -30.10 and a beta of 1.56. The company’s fifty day moving average price is $46.21 and its two-hundred day moving average price is $41.27. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

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

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent research reports. Piper Sandler upped their price target on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Wells Fargo & Company upped their price target on Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Needham & Company LLC raised their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $60.00 target price on shares of Roblox in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $55.30.

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.