Douglas Lane & Associates LLC Sells 71,543 Shares of Roblox Co. (NYSE:RBLX)

Douglas Lane & Associates LLC trimmed its position in Roblox Co. (NYSE:RBLX - Free Report) by 63.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,177 shares of the company's stock after selling 71,543 shares during the period. Douglas Lane & Associates LLC's holdings in Roblox were worth $2,383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RBLX. Everence Capital Management Inc. acquired a new position in Roblox in the fourth quarter valued at about $927,000. GAMMA Investing LLC lifted its holdings in shares of Roblox by 29.2% during the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company's stock valued at $69,000 after purchasing an additional 271 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company's stock valued at $30,000 after purchasing an additional 239 shares during the period. Principal Financial Group Inc. increased its stake in Roblox by 308.2% during the 3rd quarter. Principal Financial Group Inc. now owns 181,808 shares of the company's stock worth $8,047,000 after purchasing an additional 137,267 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Roblox during the 3rd quarter worth approximately $533,000. Institutional investors own 94.46% of the company's stock.

Roblox Stock Performance

NYSE:RBLX traded up $0.73 on Thursday, hitting $62.03. The company's stock had a trading volume of 8,275,652 shares, compared to its average volume of 6,182,431. Roblox Co. has a one year low of $29.55 and a one year high of $63.58. The firm has a market capitalization of $37.69 billion, a P/E ratio of -37.82 and a beta of 1.43. The stock has a fifty day moving average of $55.74 and a two-hundred day moving average of $46.44. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating 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 business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted ($0.45) EPS. The company's quarterly revenue was up 9.5% on a year-over-year basis. Research analysts predict that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other Roblox news, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the sale, the director now owns 4,707,579 shares in the company, valued at $236,932,451.07. The trade was a 4.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Baszucki sold 166,668 shares of the business's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the completion of the sale, the chief executive officer now directly owns 135,755 shares of the company's stock, valued at $5,722,073.25. This represents a 55.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,254,601 shares of company stock valued at $65,622,735. Company insiders own 22.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wedbush reiterated an "outperform" rating and issued a $49.00 price target on shares of Roblox in a report on Friday, October 25th. Raymond James reaffirmed a "strong-buy" rating and issued a $60.00 target price on shares of Roblox in a research note on Friday, November 22nd. Morgan Stanley raised Roblox from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $38.00 to $65.00 in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on Roblox from $51.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, Needham & Company LLC increased their price objective on Roblox from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $55.67.

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.