Bellwether Advisors LLC Sells 10,674 Shares of Roblox Corporation $RBLX

Bellwether Advisors LLC cut its holdings in shares of Roblox Corporation (NYSE:RBLX) by 12.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,118 shares of the company’s stock after selling 10,674 shares during the period. Roblox makes up 1.7% of Bellwether Advisors LLC’s portfolio, making the stock its 11th biggest position. Bellwether Advisors LLC’s holdings in Roblox were worth $10,128,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. NewEdge Advisors LLC grew its stake in shares of Roblox by 2.3% in the first quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after acquiring an additional 231 shares during the period. Sivia Capital Partners LLC lifted its position in Roblox by 70.2% during the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock valued at $1,368,000 after purchasing an additional 5,363 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Roblox by 74.8% in the second quarter. Envestnet Asset Management Inc. now owns 117,031 shares of the company’s stock worth $12,312,000 after purchasing an additional 50,087 shares during the last quarter. Spire Wealth Management grew its position in Roblox by 53.7% in the 2nd quarter. Spire Wealth Management now owns 2,559 shares of the company’s stock worth $269,000 after purchasing an additional 894 shares during the period. Finally, Assetmark Inc. grew its position in Roblox by 53,028.6% in the 2nd quarter. Assetmark Inc. now owns 44,628 shares of the company’s stock worth $4,695,000 after purchasing an additional 44,544 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Stock Down 0.7%

RBLX stock opened at $66.98 on Wednesday. The business’s 50-day moving average price is $73.06 and its 200-day moving average price is $100.57. The stock has a market cap of $44.32 billion, a P/E ratio of -43.21 and a beta of 1.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox Corporation has a twelve month low of $50.10 and a twelve month high of $150.59.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business earned ($0.33) EPS. The firm’s revenue was up 122.6% compared to the same quarter last year. On average, equities research analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

Insider Activity

In related news, CEO David Baszucki sold 10,834 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $61.63, for a total value of $667,699.42. Following the completion of the transaction, the chief executive officer owned 800,539 shares of the company’s stock, valued at approximately $49,337,218.57. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Arvind Chakravarthy sold 40,646 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total value of $2,732,630.58. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RBLX shares. BMO Capital Markets restated an “outperform” rating on shares of Roblox in a research note on Friday, February 6th. Canaccord Genuity Group lowered their target price on Roblox from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. B. Riley Financial assumed coverage on Roblox in a research note on Tuesday, December 9th. They set a “buy” rating and a $125.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective on shares of Roblox in a research note on Friday, February 6th. Finally, Barclays dropped their price objective on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Roblox has an average rating of “Moderate Buy” and a consensus target price of $119.44.

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.