Roblox Co. (NYSE:RBLX) Holdings Cut by Independent Wealth Network Inc.

Independent Wealth Network Inc. trimmed its stake in shares of Roblox Co. (NYSE:RBLX) by 4.7% during the fourth quarter, Holdings Channel reports. The firm owned 4,517 shares of the company’s stock after selling 221 shares during the period. Independent Wealth Network Inc.’s holdings in Roblox were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Simon Quick Advisors LLC increased its stake in shares of Roblox by 4.6% in the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after purchasing an additional 217 shares during the period. Versant Capital Management Inc raised its stake in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares in the last quarter. Impact Partnership Wealth LLC boosted its position in Roblox by 3.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after acquiring an additional 245 shares during the period. GAMMA Investing LLC grew its stake in shares of Roblox by 29.2% in the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after purchasing an additional 271 shares in the last quarter. Finally, Metis Global Partners LLC increased its holdings in shares of Roblox by 5.0% during the third quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock valued at $266,000 after purchasing an additional 288 shares during the period. Institutional investors own 94.46% of the company’s stock.

Roblox Trading Up 1.7 %

Shares of NYSE:RBLX opened at $67.12 on Friday. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $67.32. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a market capitalization of $40.78 billion, a P/E ratio of -40.93 and a beta of 1.43. The firm has a fifty day moving average of $58.12 and a two-hundred day moving average of $48.35.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RBLX shares. CICC Research started coverage on shares of Roblox in a research note on Tuesday, January 14th. They set an “outperform” rating on the stock. Macquarie lifted their target price on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark upped their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup lifted their price objective on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, BTIG Research increased their target price on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.48.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 166,666 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.71, for a total value of $8,451,632.86. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at approximately $6,884,136.05. This trade represents a 55.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the sale, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at $4,817,179.80. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,393,812 shares of company stock valued at $78,488,813. 22.15% of the stock is currently owned by corporate insiders.

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.