Cabot Wealth Management Inc. Buys New Shares in Roblox Corporation $RBLX

Cabot Wealth Management Inc. purchased a new position in Roblox Corporation (NYSE:RBLX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,070 shares of the company’s stock, valued at approximately $2,503,000.

Other large investors have also made changes to their positions in the company. Total Investment Management Inc. purchased a new stake in shares of Roblox during the second quarter worth about $29,000. ORG Partners LLC bought a new position in Roblox in the 2nd quarter worth approximately $33,000. Whipplewood Advisors LLC purchased a new stake in Roblox during the 2nd quarter valued at approximately $34,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Roblox during the third quarter valued at approximately $37,000. Finally, Root Financial Partners LLC purchased a new position in shares of Roblox in the third quarter worth $38,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Trading Down 0.7%

Shares of NYSE RBLX opened at $74.18 on Monday. Roblox Corporation has a 1-year low of $50.10 and a 1-year high of $150.59. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day moving average is $86.35 and its two-hundred day moving average is $111.09. The stock has a market capitalization of $48.58 billion, a P/E ratio of -51.87 and a beta of 1.64.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 30th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.07. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The company’s quarterly revenue was up 70.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. As a group, research analysts expect that Roblox Corporation will post -1.49 EPS for the current year.

Insider Activity at Roblox

In related news, Director Anthony P. Lee sold 66,000 shares of Roblox stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $104.07, for a total transaction of $6,868,620.00. Following the completion of the transaction, the director directly owned 266,008 shares of the company’s stock, valued at approximately $27,683,452.56. The trade was a 19.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew D. Kaufman sold 20,867 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $96.10, for a total transaction of $2,005,318.70. Following the transaction, the insider owned 239,775 shares in the company, valued at $23,042,377.50. The trade was a 8.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 504,300 shares of company stock valued at $46,290,436 over the last three months. Corporate insiders own 12.92% of the company’s stock.

Analyst Upgrades and Downgrades

RBLX has been the subject of several research analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $146.00 target price on shares of Roblox in a research note on Friday, October 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a research report on Monday, December 29th. Wall Street Zen raised Roblox from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Raymond James Financial reissued an “outperform” rating and set a $165.00 price target (up from $155.00) on shares of Roblox in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group set a $85.00 price objective on Roblox in a research note on Thursday, January 15th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $135.23.

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.