Accredited Investors Inc. Decreases Stock Position in Roblox Co. (NYSE:RBLX)

Accredited Investors Inc. trimmed its position in shares of Roblox Co. (NYSE:RBLX) by 6.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,185,379 shares of the company’s stock after selling 79,252 shares during the quarter. Roblox makes up approximately 3.0% of Accredited Investors Inc.’s investment portfolio, making the stock its 14th largest position. Accredited Investors Inc. owned about 0.20% of Roblox worth $52,465,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Roblox by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after purchasing an additional 4,818,022 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Roblox by 1.9% during the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after buying an additional 535,414 shares during the last quarter. ARK Investment Management LLC grew its holdings in Roblox by 12.9% in the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after buying an additional 1,519,591 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after acquiring an additional 2,488,044 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Roblox by 17.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company’s stock worth $371,535,000 after acquiring an additional 1,491,726 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RBLX shares. Raymond James raised their price objective on shares of Roblox from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 31st. Benchmark lifted their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research 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 report on Friday, November 1st. Wells Fargo & Company raised their target price on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group upped their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average target price of $55.30.

Insider Buying and Selling

In related news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Manuel Bronstein sold 37,846 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.03, for a total transaction of $1,969,127.38. Following the sale, the insider now directly owns 674,259 shares in the company, valued at approximately $35,081,695.77. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 987,373 shares of company stock worth $44,831,579. Corporate insiders own 22.15% of the company’s stock.

Roblox Trading Down 3.8 %

Shares of NYSE RBLX opened at $50.73 on Friday. The stock’s 50-day moving average is $45.43 and its two-hundred day moving average is $40.53. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $55.10.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating 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 firm had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company earned ($0.45) earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. Analysts anticipate that Roblox Co. will post -1.56 EPS for the current fiscal year.

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.