Cresset Asset Management LLC Sells 11,400 Shares of Roblox Corporation $RBLX

Cresset Asset Management LLC decreased its holdings in Roblox Corporation (NYSE:RBLX) by 49.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,481 shares of the company’s stock after selling 11,400 shares during the period. Cresset Asset Management LLC’s holdings in Roblox were worth $1,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Roblox in the 1st quarter valued at $70,254,000. Fox Run Management L.L.C. boosted its stake in shares of Roblox by 56.5% during the first quarter. Fox Run Management L.L.C. now owns 12,161 shares of the company’s stock valued at $709,000 after purchasing an additional 4,390 shares during the period. Vanguard Group Inc. increased its stake in Roblox by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock worth $6,222,993,000 after buying an additional 1,513,608 shares during the period. Westfield Capital Management Co. LP bought a new stake in Roblox during the 2nd quarter valued at about $120,041,000. Finally, Moody Lynn & Lieberson LLC purchased a new stake in Roblox in the 2nd quarter valued at about $2,779,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Buying and Selling at Roblox

In other news, insider Matthew D. Kaufman sold 20,867 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $96.10, for a total value of $2,005,318.70. Following the sale, the insider directly owned 239,775 shares in the company, valued at approximately $23,042,377.50. This trade represents a 8.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Naveen K. Chopra sold 19,424 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the transaction, the chief financial officer owned 337,036 shares of the company’s stock, valued at approximately $32,095,938.28. This trade represents a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 382,508 shares of company stock valued at $40,838,541. 12.92% of the stock is currently owned by corporate insiders.

Roblox Trading Up 1.4%

Shares of NYSE:RBLX opened at $99.02 on Wednesday. The company has a market capitalization of $64.84 billion, a PE ratio of -69.25 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The business’s fifty day simple moving average is $112.29 and its 200-day simple moving average is $114.75.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.07. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned ($0.37) earnings per share. The firm’s revenue for the quarter was up 70.3% compared to the same quarter last year. As a group, equities research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research reduced their target price on shares of Roblox from $180.00 to $174.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. UBS Group set a $99.00 price objective on Roblox in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $165.00 target price on shares of Roblox in a research report on Thursday, September 4th. Wells Fargo & Company dropped their price target on Roblox from $155.00 to $141.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Wolfe Research upgraded Roblox from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Friday, August 22nd. Twenty research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.38.

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.