Kestra Private Wealth Services LLC Makes New $251,000 Investment in Roblox Co. (NYSE:RBLX)

Kestra Private Wealth Services LLC acquired a new position in shares of Roblox Co. (NYSE:RBLX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,486 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Roblox by 29.0% in the third quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock valued at $1,291,414,000 after purchasing an additional 10,025,779 shares during the period. Morgan Stanley raised its position in Roblox by 13.7% in the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after purchasing an additional 4,927,848 shares during the period. Ieq Capital LLC raised its position in Roblox by 158.0% in the third quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock valued at $265,035,000 after purchasing an additional 5,604,995 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Roblox by 20.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,145,602 shares of the company’s stock valued at $235,897,000 after purchasing an additional 1,368,347 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Roblox by 123.5% in the third quarter. Artisan Partners Limited Partnership now owns 3,267,763 shares of the company’s stock valued at $94,634,000 after purchasing an additional 1,805,567 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Trading Down 3.7 %

NYSE:RBLX opened at $39.02 on Thursday. The stock has a 50-day simple moving average of $38.03 and a 200-day simple moving average of $39.45. The stock has a market cap of $24.65 billion, a P/E ratio of -20.87 and a beta of 1.63. Roblox Co. has a 1 year low of $24.88 and a 1 year high of $47.20. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.48) EPS. As a group, analysts anticipate that Roblox Co. will post -2.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RBLX shares. Roth Mkm reiterated a “buy” rating and issued a $55.00 price objective on shares of Roblox in a report on Wednesday, May 1st. JPMorgan Chase & Co. upgraded Roblox from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $48.00 in a report on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and issued a $50.00 price objective on shares of Roblox in a report on Tuesday, April 23rd. Needham & Company LLC boosted their price objective on Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, BMO Capital Markets boosted their price objective on Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average target price of $47.60.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.09, for a total value of $8,818,000.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at approximately $44.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.09, for a total value of $8,818,000.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at approximately $44.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 10,972 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $445,902.08. Following the completion of the sale, the chief financial officer now directly owns 233,629 shares of the company’s stock, valued at $9,494,682.56. The disclosure for this sale can be found here. Insiders sold a total of 712,374 shares of company stock valued at $29,639,338 in the last three months. 22.15% of the stock is currently owned by company insiders.

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.