Pitcairn Co. Buys New Position in Roblox Co. (NYSE:RBLX)

Pitcairn Co. purchased a new position in shares of Roblox Co. (NYSE:RBLX) in the third quarter, HoldingsChannel reports. The fund purchased 6,524 shares of the company’s stock, valued at approximately $289,000.

Several other hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in shares of Roblox in the third quarter valued at about $27,000. Frazier Financial Advisors LLC grew its stake in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares in the last quarter. PARK CIRCLE Co acquired a new position in shares of Roblox during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC boosted its holdings in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after buying an additional 530 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its stake in shares of Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

Roblox Price Performance

RBLX stock opened at $49.37 on Thursday. The company’s 50-day moving average price is $46.21 and its two-hundred day moving average price is $41.27. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $55.10. 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 cap of $29.99 billion, a P/E ratio of -30.10 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company earned ($0.45) earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts anticipate that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the sale, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at approximately $5,722,073.25. This trade represents a 55.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $14,643,026. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,013,607 shares of company stock valued at $48,434,122. 22.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their price target on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays upped their price objective 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 lifted their target price on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

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.