Raymond James Financial Inc. Invests $24.22 Million in Roblox Co. (NYSE:RBLX)

Raymond James Financial Inc. bought a new position in Roblox Co. (NYSE:RBLX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 (SEC).

Several other institutional investors have also recently added to or reduced their stakes in RBLX. FMR LLC grew its holdings in Roblox by 89.4% in the fourth quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after purchasing an additional 18,715,837 shares during the period. Wealthfront Advisers LLC increased its stake in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock valued at $1,063,365,000 after purchasing an additional 17,312,325 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Roblox by 1,084.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock worth $278,500,000 after buying an additional 4,406,885 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Roblox by 26.8% in the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock valued at $960,049,000 after buying an additional 3,507,901 shares in the last quarter. Finally, Norges Bank bought a new position in Roblox in the 4th quarter valued at about $167,211,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RBLX shares. JPMorgan Chase & Co. raised their target price on Roblox from $62.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, January 10th. Benchmark reaffirmed a "buy" rating and set a $71.00 price objective on shares of Roblox in a report on Tuesday, March 18th. Wedbush reiterated an "outperform" rating and issued a $83.00 target price on shares of Roblox in a report on Friday, February 7th. Roth Mkm lifted their target price on shares of Roblox from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company lowered their target price on Roblox from $76.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Roblox has an average rating of "Moderate Buy" and an average target price of $64.50.

Roblox Trading Up 3.1 %

NYSE:RBLX traded up $1.95 during midday trading on Thursday, reaching $65.43. 1,900,744 shares of the stock traded hands, compared to its average volume of 7,846,976. The stock has a market capitalization of $41.12 billion, a P/E ratio of -45.03 and a beta of 1.49. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The company has a fifty day moving average of $59.06 and a 200 day moving average of $57.08.

Roblox (NYSE:RBLX - Get Free Report) last posted 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 return on equity of 665.98% and a negative net margin of 25.97%. On average, research analysts predict that Roblox Co. will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 229,167 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the transaction, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at $11,649,667.84. This represents a 50.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 50,000 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $61.14, for a total value of $3,057,000.00. Following the completion of the transaction, the chief financial officer now owns 395,465 shares in the company, valued at approximately $24,178,730.10. This trade represents a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 902,954 shares of company stock valued at $55,354,971 in the last three months. 22.15% of the stock is currently owned by company insiders.

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.