Van ECK Associates Corp Sells 204,077 Shares of Roblox Co. (NYSE:RBLX)

Van ECK Associates Corp cut its position in shares of Roblox Co. (NYSE:RBLX - Free Report) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,061,389 shares of the company's stock after selling 204,077 shares during the quarter. Van ECK Associates Corp owned about 0.18% of Roblox worth $43,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in shares of Roblox by 94.4% in the third quarter. Janney Montgomery Scott LLC now owns 18,404 shares of the company's stock valued at $815,000 after buying an additional 8,939 shares in the last quarter. Cigna Investments Inc. New purchased a new position in Roblox in the third quarter valued at about $233,000. First Trust Direct Indexing L.P. boosted its holdings in Roblox by 12.8% in the third quarter. First Trust Direct Indexing L.P. now owns 6,219 shares of the company's stock valued at $275,000 after purchasing an additional 708 shares during the last quarter. Trajan Wealth LLC boosted its holdings in Roblox by 5.5% in the third quarter. Trajan Wealth LLC now owns 310,836 shares of the company's stock valued at $13,758,000 after purchasing an additional 16,315 shares during the last quarter. Finally, Sicart Associates LLC purchased a new position in Roblox in the third quarter valued at about $218,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares of the company's stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares of the company's stock, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the sale, the insider now directly owns 342,656 shares of the company's stock, valued at approximately $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 989,341 shares of company stock valued at $44,391,412 over the last quarter. Company insiders own 22.15% of the company's stock.

Roblox Price Performance

Shares of NYSE RBLX traded down $1.44 during mid-day trading on Monday, reaching $50.00. The company had a trading volume of 19,482,760 shares, compared to its average volume of 7,464,602. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a market cap of $29.93 billion, a PE ratio of -30.49 and a beta of 1.56. The company has a 50-day moving average price of $43.79 and a two-hundred day moving average price of $39.48. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $53.07.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analysts' expectations of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.45) EPS. On average, equities analysts anticipate that Roblox Co. will post -1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBLX has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Roblox from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Friday. Jefferies Financial Group initiated coverage on Roblox in a report on Thursday, July 11th. They set a "hold" rating and a $42.00 target price on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $62.00 target price (up previously from $56.00) on shares of Roblox in a report on Friday. Roth Mkm increased their target price on Roblox from $35.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Finally, BTIG Research increased their target price on Roblox from $51.00 to $56.00 and gave the stock a "buy" rating in a report on Friday. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.80.

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.