Independent Wealth Network Inc. Cuts Position in Roblox Co. (NYSE:RBLX)

Independent Wealth Network Inc. reduced its stake in shares of Roblox Co. (NYSE:RBLX) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,517 shares of the company’s stock after selling 221 shares during the period. Independent Wealth Network Inc.’s holdings in Roblox were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RBLX. ValueAct Holdings L.P. grew its holdings in shares of Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after acquiring an additional 7,835,921 shares during the period. FMR LLC grew 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 purchasing an additional 4,115,286 shares during the last quarter. Dragoneer Investment Group LLC increased its position in shares of Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after buying an additional 2,488,044 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Roblox during the 3rd quarter worth $107,491,000. Finally, Greenvale Capital LLP purchased a new stake in shares of Roblox in the 2nd quarter worth about $89,304,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RBLX shares. JPMorgan Chase & Co. lifted their target price on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Citigroup raised their price target on Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James restated a “strong-buy” rating and issued a $60.00 price objective on shares of Roblox in a research report on Friday, November 22nd. Finally, BTIG Research lifted their price objective on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Roblox has an average rating of “Moderate Buy” and an average price target of $57.48.

Roblox Stock Up 1.7 %

Shares of NYSE:RBLX opened at $67.12 on Friday. The stock has a 50-day simple moving average of $58.12 and a 200-day simple moving average of $48.35. The stock has a market capitalization of $40.78 billion, a P/E ratio of -40.93 and a beta of 1.43. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $67.32. 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 announced its quarterly 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 firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. Equities analysts forecast that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Activity at Roblox

In other Roblox news, Director Anthony P. Lee sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the sale, the director now owns 6,254,137 shares in the company, valued at $406,769,070.48. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Guthrie sold 10,000 shares of Roblox stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total value of $494,400.00. Following the completion of the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at approximately $17,444,607.36. The trade was a 2.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,393,812 shares of company stock valued at $78,488,813. Insiders own 22.15% of the company’s stock.

Roblox 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.