Adero Partners LLC Has $2.65 Million Stock Holdings in Roblox Co. (NYSE:RBLX)

Adero Partners LLC cut its holdings in Roblox Co. (NYSE:RBLX) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,775 shares of the company’s stock after selling 259 shares during the quarter. Adero Partners LLC’s holdings in Roblox were worth $2,646,000 at the end of the most recent quarter.

A number of other institutional investors have 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 third quarter worth $27,000. Frazier Financial Advisors LLC increased its position in Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after acquiring an additional 624 shares during the period. PARK CIRCLE Co bought a new position in Roblox during the second quarter worth $30,000. Strategic Financial Concepts LLC bought a new position in Roblox during the second quarter worth $33,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in Roblox by 102.4% during the second 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 during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Roblox Stock Down 3.8 %

Shares of Roblox stock opened at $50.73 on Friday. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10. The stock has a fifty day moving average price of $45.43 and a 200-day moving average price of $40.53. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted ($0.45) EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts anticipate that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares in the company, valued at $4,019,545.95. The trade was a 4.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 21,789 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $879,186.15. Following the completion of the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $14,237,255.40. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 987,373 shares of company stock worth $44,831,579. 22.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RBLX. Piper Sandler boosted their target price on shares of Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Barclays boosted their target price on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley raised shares of Roblox from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Macquarie boosted their price target on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.30.

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.