Intech Investment Management LLC Sells 1,325 Shares of Roblox Co. (NYSE:RBLX)

Intech Investment Management LLC trimmed its holdings in shares of Roblox Co. (NYSE:RBLX) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,103 shares of the company’s stock after selling 1,325 shares during the period. Intech Investment Management LLC’s holdings in Roblox were worth $1,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Roblox in the third quarter valued at about $15,457,000. Commerce Bank raised its stake in shares of Roblox by 5.7% in the third quarter. Commerce Bank now owns 7,360 shares of the company’s stock worth $326,000 after acquiring an additional 400 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Roblox during the third quarter worth approximately $395,000. Pathstone Holdings LLC grew its stake in shares of Roblox by 7.2% during the third quarter. Pathstone Holdings LLC now owns 88,296 shares of the company’s stock valued at $3,908,000 after purchasing an additional 5,898 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Roblox in the third quarter valued at approximately $103,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Roblox Stock Up 0.6 %

RBLX stock opened at $49.37 on Thursday. The stock has a market capitalization of $29.99 billion, a P/E ratio of -30.10 and a beta of 1.56. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $55.10. The business has a 50-day moving average of $46.21 and a 200-day moving average of $41.27. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on RBLX. Canaccord Genuity Group upped their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays upped their price target on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. BTIG Research boosted their price objective on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Needham & Company LLC raised their target price on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on shares of Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.30.

Insider Activity at Roblox

In other news, CFO Michael Guthrie sold 3,443 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.01, for a total transaction of $154,969.43. Following the transaction, the chief financial officer now directly owns 352,844 shares in the company, valued at $15,881,508.44. The trade was a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amy Marie Rawlings sold 3,601 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $49.32, for a total transaction of $177,601.32. Following the completion of the sale, the chief accounting officer now directly owns 81,407 shares in the company, valued at approximately $4,014,993.24. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,013,607 shares of company stock valued at $48,434,122. 22.15% of the stock is owned by insiders.

Roblox 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.