Sunbelt Securities Inc. Cuts Stock Holdings in Roblox Co. (NYSE:RBLX)

Sunbelt Securities Inc. lowered its stake in Roblox Co. (NYSE:RBLXFree Report) by 18.5% during the 3rd quarter, Holdings Channel reports. The firm owned 2,679 shares of the company’s stock after selling 610 shares during the quarter. Sunbelt Securities Inc.’s holdings in Roblox were worth $119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RBLX. Entropy Technologies LP lifted its position in shares of Roblox by 168.4% in the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after buying an additional 62,521 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after acquiring an additional 2,488,044 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Roblox by 12,971.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock worth $2,302,000 after acquiring an additional 51,626 shares in the last quarter. State Street Corp boosted its position in shares of Roblox by 2.3% during the 3rd 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 last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings 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 purchasing an additional 14,348 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Stock Down 0.0 %

Shares of NYSE RBLX opened at $59.60 on Friday. The stock has a 50 day moving average price of $48.88 and a 200 day moving average price of $43.23. The firm has a market capitalization of $36.21 billion, a price-to-earnings ratio of -36.34 and a beta of 1.50. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $61.05. 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:RBLXGet Free Report) last announced 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 return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted ($0.45) earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Sell-side analysts expect that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Activity

In other news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Monday, October 7th. The stock was sold at an average price of $41.50, for a total value of $1,245,000.00. Following the transaction, the chief financial officer now directly owns 352,844 shares in the company, valued at approximately $14,643,026. This trade represents a 7.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 166,666 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.56, for a total value of $7,593,302.96. Following the sale, the chief executive officer now owns 135,755 shares of the company’s stock, valued at $6,184,997.80. This trade represents a 55.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,457,267 shares of company stock worth $74,422,648. 22.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RBLX shares. BTIG Research upped their price target on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $49.00 target price on shares of Roblox in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Roblox currently has an average rating of “Moderate Buy” and a consensus target price of $55.67.

Read Our Latest Analysis on RBLX

Roblox Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Co. (NYSE:RBLXFree Report).

Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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