Wedmont Private Capital Cuts Position in Roblox Co. (NYSE:RBLX)

Wedmont Private Capital decreased its holdings in Roblox Co. (NYSE:RBLX) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,700 shares of the company’s stock after selling 215 shares during the quarter. Wedmont Private Capital’s holdings in Roblox were worth $723,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its position in shares of Roblox by 5.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 64,067 shares of the company’s stock valued at $2,440,000 after buying an additional 3,547 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Roblox by 17.6% during the second quarter. Envestnet Asset Management Inc. now owns 64,557 shares of the company’s stock valued at $2,402,000 after purchasing an additional 9,665 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of Roblox in the second quarter valued at about $3,165,000. Axxcess Wealth Management LLC increased its stake in shares of Roblox by 40.5% during the second quarter. Axxcess Wealth Management LLC now owns 14,853 shares of the company’s stock worth $553,000 after purchasing an additional 4,285 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Roblox by 9.2% during the 2nd quarter. Amalgamated Bank now owns 34,530 shares of the company’s stock worth $1,285,000 after purchasing an additional 2,908 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Price Performance

Shares of RBLX opened at $62.20 on Wednesday. The firm has a 50-day simple moving average of $56.39 and a two-hundred day simple moving average of $47.12. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $63.58. The stock has a market cap of $37.79 billion, a PE ratio of -37.93 and a beta of 1.43.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company earned ($0.45) earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, analysts forecast that Roblox Co. will post -1.56 EPS for the current year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 333,334 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $57.31, for a total transaction of $19,103,371.54. Following the sale, the chief executive officer now directly owns 129,295 shares of the company’s stock, valued at $7,409,896.45. This represents a 72.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at $4,817,179.80. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,254,601 shares of company stock worth $65,622,735. 22.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RBLX has been the subject of several research reports. Wedbush reiterated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. BTIG Research raised their price objective on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 1st. HSBC began coverage on shares of Roblox in a report on Thursday, December 12th. They set a “buy” rating and a $63.00 target price for the company. Finally, Barclays raised their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.62.

Roblox Profile

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.