Axxcess Wealth Management LLC Boosts Stock Position in Roblox Corporation $RBLX

Axxcess Wealth Management LLC grew its holdings in shares of Roblox Corporation (NYSE:RBLX) by 78.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,179 shares of the company’s stock after buying an additional 7,971 shares during the period. Axxcess Wealth Management LLC’s holdings in Roblox were worth $2,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. National Pension Service increased its stake in Roblox by 7.3% in the 3rd quarter. National Pension Service now owns 1,697,820 shares of the company’s stock valued at $235,182,000 after purchasing an additional 115,096 shares in the last quarter. Vanguard Group Inc. boosted its position in Roblox by 2.6% during the second quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock worth $6,222,993,000 after purchasing an additional 1,513,608 shares in the last quarter. SG Americas Securities LLC grew its holdings in Roblox by 298.4% in the third quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock valued at $45,617,000 after purchasing an additional 246,652 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Roblox in the second quarter valued at $120,041,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Roblox during the 3rd quarter worth $2,895,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Analyst Ratings Changes

RBLX has been the topic of several recent research reports. Needham & Company LLC reduced their price target on shares of Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 6th. B. Riley Financial assumed coverage on Roblox in a research report on Tuesday, December 9th. They set a “buy” rating and a $125.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $100.00 target price (down previously from $125.00) on shares of Roblox in a report on Friday, February 6th. UBS Group set a $74.00 price target on Roblox in a research report on Friday, February 6th. Finally, Canaccord Genuity Group reduced their price objective on Roblox from $160.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.44.

Insider Buying and Selling

In other Roblox news, insider Matthew D. Kaufman sold 30,034 shares of Roblox stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $72.65, for a total value of $2,181,970.10. Following the completion of the transaction, the insider directly owned 307,263 shares in the company, valued at $22,322,656.95. The trade was a 8.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Arvind Chakravarthy sold 40,646 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 758,310 shares of company stock worth $57,121,581. 12.92% of the stock is currently owned by insiders.

Roblox Trading Up 2.5%

RBLX opened at $64.62 on Friday. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $42.75 billion, a PE ratio of -41.69 and a beta of 1.63. The firm’s fifty day moving average price is $75.93 and its 200 day moving average price is $104.36.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company’s quarterly revenue was up 122.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.33) earnings per share. As a group, research analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal 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.