Envestnet Asset Management Inc. Decreases Position in Roblox Co. (NYSE:RBLX)

Envestnet Asset Management Inc. reduced its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,299 shares of the company's stock after selling 16,713 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Roblox were worth $4,241,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RBLX. Versant Capital Management Inc grew its stake in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company's stock valued at $30,000 after acquiring an additional 239 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after purchasing an additional 230 shares during the last quarter. Rakuten Securities Inc. grew its stake in Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after purchasing an additional 195 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Roblox by 188.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock worth $56,000 after purchasing an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Roblox by 29.2% in 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. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 229,167 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $52.48, for a total value of $12,026,684.16. Following the completion of the sale, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at approximately $11,649,667.84. This represents a 50.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 4,468 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.34, for a total transaction of $274,067.12. Following the completion of the transaction, the chief accounting officer now owns 75,583 shares of the company's stock, valued at $4,636,261.22. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 902,954 shares of company stock valued at $55,354,971. 22.15% of the stock is currently owned by corporate insiders.

Roblox Trading Up 2.1 %

Roblox stock opened at $63.46 on Thursday. The firm has a 50-day moving average price of $59.06 and a two-hundred day moving average price of $57.08. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $75.74. The firm has a market capitalization of $39.88 billion, a price-to-earnings ratio of -43.77 and a beta of 1.49. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. Sell-side analysts expect that Roblox Co. will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RBLX. Oppenheimer raised shares of Roblox from a "market perform" rating to an "outperform" rating and set a $70.00 price target for the company in a research report on Thursday, April 10th. Benchmark reissued a "buy" rating and set a $71.00 price objective on shares of Roblox in a report on Tuesday, March 18th. CICC Research began coverage on shares of Roblox in a research note on Tuesday, January 14th. They issued an "outperform" rating on the stock. Morgan Stanley reduced their price target on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Macquarie boosted their price objective on Roblox from $71.00 to $76.00 and gave the company an "outperform" rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.50.

About Roblox

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.

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