Freedom Investment Management Inc. Invests $307,000 in Roblox Co. (NYSE:RBLX)

Freedom Investment Management Inc. bought a new stake in Roblox Co. (NYSE:RBLX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,311 shares of the company's stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its position in 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 buying an additional 239 shares during the period. Parkside Financial Bank & Trust grew its stake in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after purchasing an additional 230 shares in the last quarter. Rakuten Securities Inc. raised its position in Roblox by 25.6% in 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 grew its position in shares of Roblox by 188.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock worth $56,000 after buying an additional 633 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company's stock worth $69,000 after buying an additional 271 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RBLX. Morgan Stanley decreased their price objective on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Roth Mkm raised their target price on Roblox from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Piper Sandler reissued an "overweight" rating and set a $72.00 price objective (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, January 10th. Finally, Benchmark reiterated a "buy" rating and set a $71.00 target price on shares of Roblox in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Insider Activity

In other news, insider Mark Reinstra sold 24,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $65.89, for a total value of $1,581,360.00. Following the completion of the transaction, the insider now owns 281,161 shares of the company's stock, valued at $18,525,698.29. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Guthrie sold 26,154 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the sale, the chief financial officer now owns 417,079 shares in the company, valued at approximately $27,502,189.26. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 926,954 shares of company stock worth $56,936,331 over the last ninety days. 22.15% of the stock is currently owned by insiders.

Roblox Stock Up 0.5 %

RBLX opened at $60.01 on Tuesday. Roblox Co. has a one year low of $29.55 and a one year high of $75.74. The company has a market cap of $37.71 billion, a price-to-earnings ratio of -41.39 and a beta of 1.49. The business's fifty day moving average is $59.19 and its two-hundred day moving average is $57.00. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Analysts anticipate that Roblox Co. will post -1.49 EPS for the current fiscal year.

Roblox 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.

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