Provence Wealth Management Group Invests $989,000 in Roblox Co. (NYSE:RBLX)

Provence Wealth Management Group bought a new stake in Roblox Co. (NYSE:RBLX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,640 shares of the company’s stock, valued at approximately $989,000.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after acquiring an additional 10,025,779 shares during the period. Ieq Capital LLC grew its stake in shares of Roblox by 158.0% during the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock valued at $265,035,000 after buying an additional 5,604,995 shares during the period. Morgan Stanley increased its holdings in shares of Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after buying an additional 4,927,848 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Roblox by 123.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,267,763 shares of the company’s stock worth $94,634,000 after buying an additional 1,805,567 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Roblox by 20.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,145,602 shares of the company’s stock valued at $235,897,000 after acquiring an additional 1,368,347 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Trading Up 5.1 %

Shares of Roblox stock traded up $1.90 during trading on Friday, reaching $39.24. The company had a trading volume of 8,482,835 shares, compared to its average volume of 5,936,311. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. Roblox Co. has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The firm’s fifty day moving average is $38.06 and its 200-day moving average is $39.21.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. Roblox’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.48) earnings per share. Sell-side analysts forecast that Roblox Co. will post -2.09 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised Roblox from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $35.00 to $48.00 in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised shares of Roblox from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Needham & Company LLC lifted their target price on shares of Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. BMO Capital Markets increased their price target on Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Finally, Barclays upgraded Roblox from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $46.00 in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insider Buying and Selling

In related news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the sale, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the sale, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at $3,906,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 200,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.15, for a total value of $8,830,000.00. Following the completion of the sale, the chief executive officer now owns 1 shares in the company, valued at $44.15. The disclosure for this sale can be found here. Insiders have sold 712,374 shares of company stock worth $29,639,338 over the last ninety days. 22.15% of the stock is owned by 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.