abrdn plc Sells 7,559 Shares of Roblox Co. (NYSE:RBLX)

abrdn plc cut its holdings in Roblox Co. (NYSE:RBLX - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,585 shares of the company's stock after selling 7,559 shares during the period. abrdn plc's holdings in Roblox were worth $4,713,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBLX. Truist Financial Corp acquired a new stake in Roblox during the second quarter valued at approximately $559,000. Cetera Investment Advisers boosted its holdings in shares of Roblox by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 41,332 shares of the company's stock worth $1,538,000 after acquiring an additional 1,748 shares in the last quarter. 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 worth $41,000 after acquiring an additional 530 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Roblox in the 3rd quarter worth approximately $235,000. Finally, CWM LLC boosted its holdings in shares of Roblox by 61.7% in the 3rd quarter. CWM LLC now owns 74,221 shares of the company's stock worth $3,285,000 after acquiring an additional 28,329 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on RBLX. Benchmark boosted their target price on Roblox from $60.00 to $71.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Moffett Nathanson cut shares of Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price objective for the company. in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. The Goldman Sachs Group boosted their price objective on shares of Roblox from $55.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Macquarie boosted their price objective on shares of Roblox from $71.00 to $76.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Roblox currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.19.

Roblox Trading Up 2.1 %

Shares of RBLX traded up $1.36 during trading hours on Thursday, reaching $65.56. The stock had a trading volume of 7,816,457 shares, compared to its average volume of 9,516,449. The company has a market cap of $39.83 billion, a P/E ratio of -45.21 and a beta of 1.46. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74. The firm has a 50-day moving average of $63.30 and a 200 day moving average of $51.30.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 795.19%. On average, sell-side analysts expect that Roblox Co. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 6,054 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total value of $311,357.22. Following the sale, the chief accounting officer now owns 85,008 shares in the company, valued at $4,371,961.44. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Guthrie sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $52.07, for a total transaction of $2,082,800.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at $18,372,587.08. This represents a 10.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,352,014 shares of company stock worth $80,360,389. Corporate insiders own 22.15% of the company's stock.

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.