Roblox Co. (NYSE:RBLX) Shares Sold by Crestone Asset Management LLC

Crestone Asset Management LLC decreased its stake in shares of Roblox Co. (NYSE:RBLX) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,719 shares of the company’s stock after selling 3,834 shares during the period. Crestone Asset Management LLC’s holdings in Roblox were worth $582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Roblox by 29.0% in the third quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after purchasing an additional 10,025,779 shares during the period. Morgan Stanley lifted its holdings in Roblox by 13.7% in the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after buying an additional 4,927,848 shares during the period. Ieq Capital LLC boosted its stake in Roblox by 158.0% in the third quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock valued at $265,035,000 after acquiring an additional 5,604,995 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Roblox by 20.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,145,602 shares of the company’s stock worth $235,897,000 after acquiring an additional 1,368,347 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Roblox by 123.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,267,763 shares of the company’s stock valued at $94,634,000 after purchasing an additional 1,805,567 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

Roblox Stock Performance

Shares of NYSE RBLX traded down $1.51 during midday trading on Wednesday, hitting $39.03. The company’s stock had a trading volume of 8,529,769 shares, compared to its average volume of 7,406,328. The stock has a fifty day moving average price of $38.03 and a 200 day moving average price of $39.45. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of -20.99 and a beta of 1.63. Roblox Co. has a one year low of $24.88 and a one year high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned ($0.48) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, research analysts forecast that Roblox Co. will post -2.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Roblox from a “sell” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $48.00 in a report on Thursday, February 8th. JPMorgan Chase & Co. upgraded Roblox from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $48.00 in a research note on Tuesday, April 23rd. Wedbush boosted their price objective on shares of Roblox from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Benchmark reiterated a “buy” rating and issued a $50.00 price target on shares of Roblox in a research note on Tuesday, April 23rd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $55.00 target price on shares of Roblox in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and an average price target of $47.60.

Insiders Place Their Bets

In related news, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total transaction of $456,040.00. Following the completion of the transaction, the director now owns 9,747,603 shares of the company’s stock, valued at $341,945,913.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Roblox news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $35.08, for a total transaction of $456,040.00. Following the completion of the sale, the director now owns 9,747,603 shares of the company’s stock, valued at $341,945,913.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $36.06, for a total transaction of $1,081,800.00. Following the completion of the transaction, the chief financial officer now directly owns 396,709 shares of the company’s stock, valued at $14,305,326.54. The disclosure for this sale can be found here. Insiders sold a total of 712,374 shares of company stock worth $29,639,338 in the last quarter. 22.15% of the stock is owned by company insiders.

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.