Townsquare Capital LLC Makes New Investment in Roblox Co. (NYSE:RBLX)

Townsquare Capital LLC bought a new position in shares of Roblox Co. (NYSE:RBLX - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,352 shares of the company's stock, valued at approximately $547,000.

Several other hedge funds have also modified their holdings of the stock. Impact Partnership Wealth LLC lifted its holdings in Roblox by 3.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company's stock worth $298,000 after buying an additional 245 shares in the last quarter. Swedbank AB lifted its stake in shares of Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company's stock valued at $1,983,000 after purchasing an additional 285 shares during the period. Metis Global Partners LLC boosted its position in shares of Roblox by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company's stock worth $266,000 after purchasing an additional 288 shares during the last quarter. Thrive Wealth Management LLC grew its stake in shares of Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company's stock worth $274,000 after purchasing an additional 300 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in Roblox by 5.0% in the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company's stock valued at $296,000 after purchasing an additional 321 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

Roblox Stock Up 8.1 %

Shares of Roblox stock traded up $4.42 on Thursday, reaching $58.96. 21,002,349 shares of the company were exchanged, compared to its average volume of 7,653,760. Roblox Co. has a one year low of $29.55 and a one year high of $59.14. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a 50-day moving average of $46.75 and a 200 day moving average of $41.96. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of -35.95 and a beta of 1.50.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analysts' expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) earnings per share. On average, equities research analysts forecast that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anthony P. Lee sold 25,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.19, for a total value of $1,279,750.00. Following the transaction, the director now directly owns 5,706,695 shares of the company's stock, valued at $292,125,717.05. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the sale, the chief accounting officer now owns 91,062 shares of the company's stock, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,038,607 shares of company stock worth $49,713,872. Company insiders own 22.15% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RBLX. BTIG Research raised their target price on Roblox from $51.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their price target on shares of Roblox from $50.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Wells Fargo & Company raised their price objective on Roblox from $54.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. BMO Capital Markets reissued an "outperform" rating and issued a $62.00 target price (up from $56.00) on shares of Roblox in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Roblox from $45.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Roblox currently has a consensus rating of "Moderate Buy" and an average price target of $55.30.

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.