Persistent Asset Partners Ltd Purchases New Stake in Roblox Corporation $RBLX

Persistent Asset Partners Ltd purchased a new stake in Roblox Corporation (NYSE:RBLXFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,000 shares of the company’s stock, valued at approximately $1,621,000.

A number of other institutional investors have also recently modified their holdings of the business. Baird Financial Group Inc. boosted its stake in shares of Roblox by 1.4% in the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after buying an additional 102 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after buying an additional 105 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Roblox by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock valued at $560,000 after buying an additional 110 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of Roblox by 0.6% in the third quarter. Westpac Banking Corp now owns 20,043 shares of the company’s stock valued at $2,776,000 after buying an additional 115 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Roblox by 1.3% in the second quarter. NewEdge Advisors LLC now owns 10,374 shares of the company’s stock valued at $1,091,000 after buying an additional 138 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gregory Baszucki sold 16,666 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $57.95, for a total value of $965,794.70. Following the completion of the transaction, the director directly owned 1,302,834 shares of the company’s stock, valued at $75,499,230.30. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Baszucki sold 50,628 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $2,292,435.84. Following the completion of the transaction, the chief executive officer directly owned 852,214 shares of the company’s stock, valued at approximately $38,588,249.92. This trade represents a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 189,449 shares of company stock valued at $9,179,410. Company insiders own 10.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James Financial cut Roblox from an “outperform” rating to a “market perform” rating in a report on Friday, May 1st. Canaccord Genuity Group reduced their price objective on Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 1st. BTIG Research cut Roblox from a “buy” rating to a “neutral” rating in a report on Friday, May 1st. Needham & Company LLC assumed coverage on Roblox in a report on Friday, May 1st. They set a “buy” rating and a $60.00 price objective for the company. Finally, Jefferies Financial Group cut Roblox from a “hold” rating to a “hold” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.07.

Check Out Our Latest Research Report on Roblox

Key Headlines Impacting Roblox

Here are the key news stories impacting Roblox this week:

Roblox Stock Performance

Shares of RBLX stock opened at $49.48 on Wednesday. The stock has a fifty day moving average price of $49.56 and a 200 day moving average price of $64.76. The stock has a market cap of $33.23 billion, a PE ratio of -31.32 and a beta of 1.44. Roblox Corporation has a 1 year low of $40.15 and a 1 year high of $150.59. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89.

Roblox (NYSE:RBLXGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The business’s revenue for the quarter was up 43.4% compared to the same quarter last year. Sell-side analysts forecast that Roblox Corporation will post -1.4 earnings per share for the current fiscal year.

Roblox declared that its board has authorized a share buyback program on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Roblox Company Profile

(Free Report)

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.

See Also

Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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