Polar Capital Holdings Plc Sells 147,695 Shares of Roblox Co. (NYSE:RBLX)

Polar Capital Holdings Plc trimmed its stake in shares of Roblox Co. (NYSE:RBLX) by 45.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 175,433 shares of the company’s stock after selling 147,695 shares during the quarter. Polar Capital Holdings Plc’s holdings in Roblox were worth $10,151,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBLX. Claro Advisors LLC bought a new stake in shares of Roblox during the 4th quarter valued at $205,000. Apella Capital LLC purchased a new position in shares of Roblox in the 4th quarter worth about $224,000. Yarbrough Capital LLC purchased a new position in shares of Roblox in the 4th quarter worth about $205,000. Avanza Fonder AB purchased a new position in shares of Roblox in the 4th quarter worth about $5,631,000. Finally, Merit Financial Group LLC purchased a new stake in Roblox during the 4th quarter valued at about $736,000. 94.46% of the stock is currently owned by institutional investors.

Insider Activity at Roblox

In related news, CFO Michael Guthrie sold 21,614 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.34, for a total transaction of $1,325,802.76. Following the transaction, the chief financial officer now directly owns 395,465 shares of the company’s stock, valued at $24,257,823.10. This represents a 5.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amy Marie Rawlings sold 4,468 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.34, for a total value of $274,067.12. Following the transaction, the chief accounting officer now directly owns 75,583 shares in the company, valued at $4,636,261.22. This represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,344,632 shares of company stock worth $160,151,753. Company insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RBLX shares. Roth Mkm increased their price objective on Roblox from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Citigroup raised their price objective on Roblox from $78.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Macquarie raised their price objective on Roblox from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. FBN Securities began coverage on Roblox in a research report on Friday, March 28th. They set a “sector perform” rating and a $65.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $83.00 target price on shares of Roblox in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.68.

Roblox Trading Up 1.6%

RBLX opened at $80.70 on Friday. The firm has a market cap of $50.84 billion, a P/E ratio of -55.65 and a beta of 1.46. Roblox Co. has a 12 month low of $31.59 and a 12 month high of $81.25. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The stock has a 50-day moving average of $62.20 and a 200 day moving average of $60.41.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned ($0.43) earnings per share. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, research analysts forecast that Roblox Co. will post -1.49 EPS for the current 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.