Douglas Lane & Associates LLC Sells 124,391 Shares of Roblox Co. (NYSE:RBLX)

Douglas Lane & Associates LLC trimmed its position in shares of Roblox Co. (NYSE:RBLX) by 52.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,720 shares of the company’s stock after selling 124,391 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Roblox were worth $4,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PARK CIRCLE Co bought a new stake in shares of Roblox during the 2nd quarter worth approximately $30,000. Strategic Financial Concepts LLC bought a new stake in shares of Roblox during the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC boosted its stake in shares of Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares during the period. Washington Trust Advisors Inc. purchased a new stake in shares of Roblox during the first quarter valued at $39,000. Finally, GAMMA Investing LLC grew its holdings in shares of Roblox by 132.8% in the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RBLX. Wolfe Research assumed coverage on shares of Roblox in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wells Fargo & Company increased their price target on Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. BMO Capital Markets restated an “outperform” rating and issued a $56.00 price objective on shares of Roblox in a report on Tuesday, July 30th. Jefferies Financial Group initiated coverage on shares of Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price on the stock. Finally, BTIG Research boosted their price target on shares of Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average price target of $46.14.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,673 shares of company stock worth $27,331,806. 22.15% of the stock is currently owned by insiders.

Roblox Stock Performance

Shares of Roblox stock opened at $41.60 on Monday. The company has a 50 day moving average price of $42.72 and a 200 day moving average price of $38.85. The firm has a market capitalization of $24.90 billion, a P/E ratio of -24.19 and a beta of 1.60. 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 52 week low of $29.55 and a 52 week high of $48.43.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.46) earnings per share. Sell-side analysts expect that Roblox Co. will post -1.59 EPS for the current year.

Roblox Company 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.