Verition Fund Management LLC Reduces Position in Roblox Co. (NYSE:RBLX)

Verition Fund Management LLC decreased its stake in shares of Roblox Co. (NYSE:RBLX – Get Rating) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,094 shares of the company’s stock after selling 675 shares during the period. Verition Fund Management LLC’s holdings in Roblox were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. 1832 Asset Management L.P. acquired a new stake in shares of Roblox during the first quarter worth $32,000. Truvestments Capital LLC acquired a new stake in shares of Roblox during the second quarter worth $35,000. CoreCap Advisors LLC acquired a new stake in shares of Roblox during the second quarter worth $36,000. Salem Investment Counselors Inc. boosted its holdings in shares of Roblox by 125.4% during the third quarter. Salem Investment Counselors Inc. now owns 1,258 shares of the company’s stock worth $45,000 after purchasing an additional 700 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its holdings in Roblox by 9,280.0% in the second quarter. Kistler Tiffany Companies LLC now owns 1,407 shares of the company’s stock valued at $46,000 after acquiring an additional 1,392 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Roblox Price Performance

Shares of Roblox stock opened at $41.37 on Monday. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.55 and a quick ratio of 1.55. Roblox Co. has a fifty-two week low of $21.65 and a fifty-two week high of $53.88. The business has a 50-day moving average price of $35.10 and a 200 day moving average price of $36.34.

Roblox (NYSE:RBLX – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $899.40 million during the quarter, compared to analyst estimates of $884.71 million. Roblox had a negative return on equity of 200.01% and a negative net margin of 41.54%. Roblox’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.25) earnings per share. On average, analysts predict that Roblox Co. will post -1.84 EPS for the current fiscal year.

Insider Activity at Roblox

In related news, insider Craig Donato sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $37.48, for a total value of $74,960.00. Following the completion of the sale, the insider now directly owns 1,150,491 shares of the company’s stock, valued at $43,120,402.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Roblox news, CAO Amy Marie Rawlings sold 3,178 shares of Roblox stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $37.85, for a total value of $120,287.30. Following the completion of the transaction, the chief accounting officer now directly owns 90,745 shares in the company, valued at $3,434,698.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Donato sold 2,000 shares of Roblox stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $37.48, for a total value of $74,960.00. Following the completion of the transaction, the insider now owns 1,150,491 shares of the company’s stock, valued at $43,120,402.68. The disclosure for this sale can be found here. Insiders sold a total of 61,044 shares of company stock valued at $2,281,985 over the last three months. 28.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RBLX shares. Morgan Stanley lifted their target price on Roblox from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, February 16th. Credit Suisse Group lifted their target price on Roblox from $37.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, February 16th. DA Davidson lifted their target price on Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Needham & Company LLC lifted their target price on Roblox from $42.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Finally, Oppenheimer started coverage on Roblox in a report on Wednesday, January 25th. They issued a “market perform” rating on the stock. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Roblox currently has an average rating of “Hold” and a consensus price target of $37.42.

Roblox Profile

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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.