Rafferty Asset Management LLC Buys New Position in Roblox Co. (NYSE:RBLX)

Rafferty Asset Management LLC acquired a new stake in Roblox Co. (NYSE:RBLXFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,496 shares of the company’s stock, valued at approximately $2,583,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of 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 increased its holdings in shares of 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 grew its holdings in Roblox by 6.3% during the fourth quarter. Ieq Capital LLC now owns 9,725,211 shares of the company’s stock worth $444,637,000 after acquiring an additional 573,463 shares during the period. Franklin Resources Inc. grew its holdings in Roblox by 195.1% during the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after acquiring an additional 5,162,833 shares during the period. Finally, Norges Bank acquired a new stake in Roblox during the fourth quarter worth about $216,194,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Roblox Stock Performance

Shares of Roblox stock opened at $35.63 on Friday. Roblox Co. has a one year low of $24.88 and a one year high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. The business’s 50 day moving average price is $35.45 and its 200 day moving average price is $39.14.

Roblox (NYSE:RBLXGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The firm had revenue of $923.76 million for the quarter, compared to the consensus estimate of $918.85 million. During the same quarter last year, the business posted ($0.44) earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year. As a group, research analysts forecast that Roblox Co. will post -1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RBLX shares. Wedbush dropped their target price on Roblox from $56.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Needham & Company LLC dropped their target price on Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price (down from $56.00) on shares of Roblox in a report on Friday, May 10th. JPMorgan Chase & Co. raised Roblox from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $48.00 in a report on Tuesday, April 23rd. Finally, Barclays dropped their target price on Roblox from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.76.

Check Out Our Latest Stock Report on Roblox

Insider Buying and Selling

In related news, CAO Amy Marie Rawlings sold 3,910 shares of Roblox stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $127,309.60. Following the transaction, the chief accounting officer now owns 98,457 shares in the company, valued at $3,205,759.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Roblox news, CEO David Baszucki sold 100,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $38.31, for a total transaction of $3,831,000.00. Following the completion of the sale, the chief executive officer now owns 148,845 shares of the company’s stock, valued at $5,702,251.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $127,309.60. Following the sale, the chief accounting officer now directly owns 98,457 shares of the company’s stock, valued at approximately $3,205,759.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,221 shares of company stock worth $10,557,577. 22.15% of the stock is owned by corporate insiders.

Roblox Company 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.

Further Reading

Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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