ING Groep NV Sells 20,000 Shares of Roblox Co. (NYSE:RBLX)

ING Groep NV cut its holdings in Roblox Co. (NYSE:RBLX) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 151,000 shares of the company’s stock after selling 20,000 shares during the period. ING Groep NV’s holdings in Roblox were worth $8,737,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RBLX. Frazier Financial Advisors LLC lifted its stake in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the period. Huntington National Bank boosted its holdings in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after purchasing an additional 770 shares during the period. True Wealth Design LLC boosted its holdings in shares of Roblox by 33,875.0% during the third quarter. True Wealth Design LLC now owns 1,359 shares of the company’s stock worth $60,000 after purchasing an additional 1,355 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after purchasing an additional 271 shares during the period. 94.46% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO David Baszucki sold 6,448 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.33, for a total value of $395,455.84. Following the sale, the chief executive officer now owns 122,853 shares in the company, valued at approximately $7,534,574.49. This trade represents a 4.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $55.92, for a total transaction of $5,592,000.00. Following the completion of the sale, the chief financial officer now owns 331,187 shares in the company, valued at $18,519,977.04. This represents a 23.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,062,052 shares of company stock worth $65,611,500 over the last 90 days. 22.15% of the stock is currently owned by insiders.

Roblox Price Performance

Shares of NYSE RBLX opened at $62.52 on Friday. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a 50 day simple moving average of $64.04 and a two-hundred day simple moving average of $52.35. The company has a market capitalization of $38.70 billion, a price-to-earnings ratio of -43.11 and a beta of 1.46. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Analysts expect that Roblox Co. will post -1.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on RBLX shares. Raymond James reiterated a “strong-buy” rating and set a $60.00 target price on shares of Roblox in a report on Friday, November 22nd. Citigroup increased their target price on shares of Roblox from $63.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their target price on shares of Roblox from $55.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. BTIG Research increased their target price on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and set a $83.00 target price on shares of Roblox in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average target price of $64.19.

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.