Roblox Co. (NYSE:RBLX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in shares of Roblox Co. (NYSE:RBLX - Free Report) by 19.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,700,805 shares of the company's stock after selling 1,613,137 shares during the period. Franklin Resources Inc. owned approximately 1.10% of Roblox worth $273,326,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Roblox during the third quarter worth approximately $27,000. Frazier Financial Advisors LLC raised its position in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company's stock valued at $28,000 after buying an additional 624 shares during the last quarter. PARK CIRCLE Co purchased a new stake in Roblox in the 2nd quarter valued at $30,000. Strategic Financial Concepts LLC purchased a new stake in Roblox in the 2nd quarter valued at $33,000. Finally, Gilliland Jeter Wealth Management LLC raised its position in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company's stock valued at $37,000 after buying an additional 506 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

Insider Activity at Roblox

In other Roblox news, insider Mark Reinstra sold 17,000 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $45.58, for a total value of $774,860.00. Following the sale, the insider now owns 327,009 shares of the company's stock, valued at $14,905,070.22. The trade was a 4.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Manuel Bronstein sold 44,888 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $60.01, for a total value of $2,693,728.88. Following the sale, the insider now directly owns 573,266 shares in the company, valued at $34,401,692.66. This represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,457,267 shares of company stock worth $74,422,648. Insiders own 22.15% of the company's stock.

Roblox Stock Down 0.0 %

RBLX stock traded down $0.01 during midday trading on Friday, reaching $59.60. The stock had a trading volume of 5,793,531 shares, compared to its average volume of 8,907,744. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day simple moving average of $48.88 and a two-hundred day simple moving average of $43.23. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $61.05.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share 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 firm had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned ($0.45) EPS. Roblox's revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Roblox Co. will post -1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RBLX. Morgan Stanley upgraded Roblox from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $38.00 to $65.00 in a research note on Monday, November 4th. Piper Sandler upped their price objective on Roblox from $54.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. BTIG Research upped their price objective on Roblox from $51.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, November 1st. BMO Capital Markets restated an "outperform" rating and issued a $62.00 price objective (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Finally, The Goldman Sachs Group upped their price objective on Roblox from $45.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.