CIBC Private Wealth Group LLC Grows Stake in Roblox Corporation $RBLX

CIBC Private Wealth Group LLC grew its stake in shares of Roblox Corporation (NYSE:RBLX) by 15,059.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,347 shares of the company’s stock after purchasing an additional 136,441 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Roblox were worth $19,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in Roblox during the 3rd quarter worth $26,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Roblox in the 3rd quarter worth $37,000. Total Investment Management Inc. purchased a new position in Roblox in the 2nd quarter valued at about $29,000. Root Financial Partners LLC acquired a new stake in shares of Roblox during the third quarter valued at about $38,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Roblox by 58.7% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RBLX shares. Deutsche Bank Aktiengesellschaft set a $115.00 price target on Roblox in a research note on Tuesday, January 20th. Canaccord Genuity Group lowered their price objective on Roblox from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Morgan Stanley cut their target price on Roblox from $155.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Roth Mkm upgraded Roblox from a “neutral” rating to a “buy” rating and increased their target price for the company from $78.00 to $84.00 in a research note on Monday, February 9th. Finally, Piper Sandler reissued an “overweight” rating and set a $100.00 price target (down from $125.00) on shares of Roblox in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Roblox currently has an average rating of “Moderate Buy” and a consensus price target of $116.81.

Insider Activity

In other news, CEO David Baszucki sold 10,834 shares of Roblox stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $61.63, for a total value of $667,699.42. Following the completion of the transaction, the chief executive officer directly owned 800,539 shares of the company’s stock, valued at approximately $49,337,218.57. The trade was a 1.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 60,000 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the sale, the insider directly owned 394,322 shares of the company’s stock, valued at approximately $25,212,948.68. This represents a 13.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 636,248 shares of company stock valued at $46,013,542 over the last quarter. 12.92% of the stock is owned by company insiders.

Roblox Trading Down 1.3%

NYSE:RBLX opened at $57.52 on Friday. The company has a market cap of $38.06 billion, a PE ratio of -37.11 and a beta of 1.62. The business’s 50 day moving average is $68.36 and its two-hundred day moving average is $95.77. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox Corporation has a 52 week low of $50.10 and a 52 week high of $150.59.

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

About Roblox

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.