Roblox Corporation $RBLX Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its holdings in shares of Roblox Corporation (NYSE:RBLX) by 78.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,179 shares of the company’s stock after buying an additional 7,971 shares during the period. Axxcess Wealth Management LLC’s holdings in Roblox were worth $2,518,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RBLX. Pilgrim Partners Asia Pte Ltd acquired a new position in Roblox during the 3rd quarter worth $26,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Roblox during the third quarter valued at about $37,000. Total Investment Management Inc. bought a new stake in shares of Roblox during the second quarter valued at about $29,000. Root Financial Partners LLC bought a new position in Roblox in the 3rd quarter valued at about $38,000. Finally, Salomon & Ludwin LLC bought a new position in Roblox in the 3rd quarter valued at about $41,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Trading Up 2.5%

Shares of NYSE:RBLX opened at $64.62 on Friday. Roblox Corporation has a 1 year low of $50.10 and a 1 year high of $150.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. The firm has a fifty day moving average price of $75.93 and a 200 day moving average price of $104.36. The stock has a market capitalization of $42.75 billion, a PE ratio of -41.69 and a beta of 1.63.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. Roblox’s quarterly revenue was up 122.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.33) earnings per share. Analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 272,269 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total value of $19,783,065.54. Following the sale, the chief executive officer directly owned 811,373 shares in the company, valued at $58,954,362.18. This trade represents a 25.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anthony P. Lee sold 66,000 shares of Roblox stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.54, for a total value of $6,107,640.00. Following the transaction, the director owned 261,388 shares in the company, valued at approximately $24,188,845.52. This represents a 20.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 758,310 shares of company stock worth $57,121,581 over the last three months. Insiders own 12.92% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the subject of a number of research analyst reports. Roth Mkm raised shares of Roblox from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.00 to $84.00 in a research note on Monday, February 9th. Morgan Stanley dropped their target price on Roblox from $155.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Canaccord Genuity Group decreased their price target on Roblox from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Oppenheimer dropped their price objective on Roblox from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Finally, UBS Group set a $74.00 price objective on Roblox in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.44.

Roblox Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.