FORA Capital LLC Boosts Stake in Roblox Co. (NYSE:RBLX)

FORA Capital LLC increased its position in shares of Roblox Co. (NYSE:RBLX) by 16.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 84,048 shares of the company’s stock after buying an additional 11,971 shares during the quarter. FORA Capital LLC’s holdings in Roblox were worth $3,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Roblox during the 3rd quarter worth $2,337,000. Blueshift Asset Management LLC boosted its stake in shares of Roblox by 78.7% during the third quarter. Blueshift Asset Management LLC now owns 38,391 shares of the company’s stock worth $1,699,000 after buying an additional 16,902 shares during the period. Townsquare Capital LLC acquired a new stake in shares of Roblox during the third quarter worth about $547,000. Brooklyn Investment Group purchased a new position in shares of Roblox during the third quarter worth about $113,000. Finally, Quantbot Technologies LP increased its position in Roblox by 60.0% in the 3rd quarter. Quantbot Technologies LP now owns 75,967 shares of the company’s stock valued at $3,362,000 after acquiring an additional 28,502 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insiders Place Their Bets

In related news, insider Arvind Chakravarthy sold 14,269 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total transaction of $705,316.67. Following the sale, the insider now owns 244,803 shares in the company, valued at approximately $12,100,612.29. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction 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 $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,013,607 shares of company stock valued at $48,434,122. Corporate insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Canaccord Genuity Group boosted their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Raymond James restated a “strong-buy” rating and set a $60.00 price objective on shares of Roblox in a research report on Friday, November 22nd. Needham & Company LLC lifted their target price on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Macquarie increased their price target on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average target price of $55.30.

Roblox Price Performance

Shares of Roblox stock traded up $1.18 on Wednesday, hitting $50.24. The company’s stock had a trading volume of 832,030 shares, compared to its average volume of 7,601,458. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a fifty day moving average price of $46.13 and a 200-day moving average price of $41.22. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $55.10. The company has a market capitalization of $30.52 billion, a P/E ratio of -29.91 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate 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 business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned ($0.45) earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities research analysts expect that Roblox Co. will post -1.56 earnings per share 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.