Burney Co. Sells 2,730 Shares of Roblox Co. (NYSE:RBLX)

Burney Co. lessened its holdings in Roblox Co. (NYSE:RBLX) by 10.3% in the fourth quarter, HoldingsChannel reports. The fund owned 23,700 shares of the company’s stock after selling 2,730 shares during the period. Burney Co.’s holdings in Roblox were worth $1,371,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of RBLX. V Square Quantitative Management LLC bought a new position in Roblox during the 3rd quarter worth $27,000. Frazier Financial Advisors LLC increased its position in shares of Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. Versant Capital Management Inc raised its stake in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares in the last quarter. GAMMA Investing LLC lifted its position in Roblox by 132.8% during 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 period. Finally, Huntington National Bank grew its stake in Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Stock Up 2.7 %

Roblox stock opened at $65.45 on Friday. The firm has a market cap of $39.77 billion, a price-to-earnings ratio of -39.91 and a beta of 1.43. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $66.51. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a 50 day moving average price of $56.61 and a two-hundred day moving average price of $47.23.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business 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 business earned ($0.45) earnings per share. Roblox’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts predict that Roblox Co. will post -1.56 EPS for the current year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 166,668 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at $5,722,073.25. This represents a 55.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the sale, the director now directly owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This trade represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,254,601 shares of company stock worth $65,622,735 in the last 90 days. Corporate insiders own 22.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RBLX. Morgan Stanley upped their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up from $56.00) on shares of Roblox in a research note on Friday, November 1st. Citigroup boosted their price target on Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Benchmark upped their price objective on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC boosted their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average price target of $57.48.

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.