Raymond James Financial Inc. Acquires Shares of 418,545 Roblox Co. (NYSE:RBLX)

Raymond James Financial Inc. acquired a new position in shares of Roblox Co. (NYSE:RBLX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 418,545 shares of the company's stock, valued at approximately $24,217,000. Raymond James Financial Inc. owned approximately 0.07% of Roblox as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC boosted its stake in shares of Roblox by 20,800.0% during 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 period. Versant Capital Management Inc increased its stake in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company's stock worth $30,000 after purchasing an additional 239 shares during the period. Parkside Financial Bank & Trust boosted its stake in Roblox by 44.5% during the 4th 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 period. Huntington National Bank grew its stake in shares of Roblox by 277.0% in the third quarter. Huntington National Bank now owns 1,048 shares of the company's stock worth $46,000 after acquiring an additional 770 shares during the last quarter. Finally, True Wealth Design LLC grew its position in Roblox by 33,875.0% in the 3rd quarter. True Wealth Design LLC now owns 1,359 shares of the company's stock worth $60,000 after purchasing an additional 1,355 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Roblox

In other Roblox news, insider Arvind Chakravarthy sold 982 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $61.26, for a total transaction of $60,157.32. Following the completion of the sale, the insider now owns 204,261 shares of the company's stock, valued at $12,513,028.86. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Guthrie sold 50,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $60.14, for a total transaction of $3,007,000.00. Following the completion of the transaction, the chief financial officer now owns 395,465 shares in the company, valued at approximately $23,783,265.10. This represents a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 916,367 shares of company stock valued at $59,700,949 over the last 90 days. 22.15% of the stock is owned by corporate insiders.

Roblox Stock Up 3.9 %

Shares of Roblox stock traded up $2.19 on Wednesday, hitting $58.17. The company had a trading volume of 5,367,086 shares, compared to its average volume of 9,356,550. The stock has a 50-day moving average of $63.71 and a 200-day moving average of $54.65. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $75.74. The firm has a market capitalization of $36.01 billion, a P/E ratio of -40.11 and a beta of 1.49.

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

Wall Street Analyst Weigh In

A number of analysts have commented on RBLX shares. Piper Sandler reiterated an "overweight" rating and issued a $72.00 price objective (up previously from $65.00) on shares of Roblox in a research 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. Citigroup increased their price objective on shares of Roblox from $63.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. The Goldman Sachs Group lifted their target price on shares of Roblox from $55.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Benchmark reissued a "buy" rating and issued a $71.00 target price on shares of Roblox in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.19.

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.