Wedmont Private Capital Acquires 4,376 Shares of Roblox Co. (NYSE:RBLX)

Wedmont Private Capital grew its position in shares of Roblox Co. (NYSE:RBLX) by 37.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,076 shares of the company’s stock after buying an additional 4,376 shares during the period. Wedmont Private Capital’s holdings in Roblox were worth $921,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Roblox by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company’s stock worth $3,080,449,000 after buying an additional 462,450 shares during the period. FMR LLC increased its position in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company’s stock worth $2,294,642,000 after buying an additional 18,715,837 shares during the period. Wealthfront Advisers LLC increased its position in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after buying an additional 17,312,325 shares during the period. Ieq Capital LLC increased its position in Roblox by 26.8% during the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after buying an additional 3,507,901 shares during the period. Finally, Geode Capital Management LLC increased its position in Roblox by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company’s stock worth $495,564,000 after buying an additional 246,610 shares during the period. Institutional investors own 94.46% of the company’s stock.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 229,167 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the completion of the transaction, the chief executive officer now directly owns 221,983 shares in the company, valued at $11,649,667.84. This trade represents a 50.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Manuel Bronstein sold 26,798 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $90.20, for a total value of $2,417,179.60. Following the transaction, the insider now owns 468,486 shares of the company’s stock, valued at $42,257,437.20. This trade represents a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,354,101 shares of company stock worth $256,430,887. 12.92% of the stock is currently owned by insiders.

Roblox Price Performance

Shares of RBLX stock opened at $95.80 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company has a market cap of $64.98 billion, a P/E ratio of -66.07 and a beta of 1.56. Roblox Co. has a twelve month low of $34.41 and a twelve month high of $97.83. The business has a fifty day simple moving average of $70.97 and a 200 day simple moving average of $64.44.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The business’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the company earned ($0.43) earnings per share. On average, sell-side analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RBLX has been the topic of several recent research reports. Benchmark increased their price objective on Roblox from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Barclays increased their target price on Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Canaccord Genuity Group increased their target price on Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $105.00 target price (up from $85.00) on shares of Roblox in a report on Thursday. Finally, Wells Fargo & Company increased their target price on Roblox from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.91.

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.