Wealth Enhancement Advisory Services LLC Increases Stake in Roblox Co. (NYSE:RBLX)

Wealth Enhancement Advisory Services LLC increased its position in shares of Roblox Co. (NYSE:RBLX) by 266.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,851 shares of the company’s stock after buying an additional 25,333 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Roblox were worth $1,542,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RBLX. V Square Quantitative Management LLC acquired a new stake in shares of Roblox in the 3rd quarter valued at $27,000. PARK CIRCLE Co acquired a new position in shares of Roblox during the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Roblox in the 2nd quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new position in Roblox in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the sale, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Roblox news, Director Anthony P. Lee sold 200,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the sale, the director now owns 4,707,579 shares of the company’s stock, valued at $236,932,451.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $47.75, for a total transaction of $620,750.00. Following the transaction, the director now directly owns 9,662,103 shares of the company’s stock, valued at approximately $461,365,418.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 979,341 shares of company stock worth $43,897,012. 22.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RBLX has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday. Piper Sandler raised their price objective on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James boosted their target price on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price target (up previously from $56.00) on shares of Roblox in a research report on Friday. Finally, Macquarie raised their target price on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.55.

Roblox Stock Performance

NYSE:RBLX opened at $51.44 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $52.65. The firm’s fifty day simple moving average is $43.67 and its 200-day simple moving average is $39.38. The stock has a market cap of $30.79 billion, a PE ratio of -31.37 and a beta of 1.56.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned ($0.45) EPS. Analysts expect that Roblox Co. will post -1.58 earnings per share for the current fiscal year.

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.