SOL Capital Management CO Sells 6,355 Shares of Roblox Corporation $RBLX

SOL Capital Management CO decreased its position in Roblox Corporation (NYSE:RBLX) by 8.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 72,897 shares of the company’s stock after selling 6,355 shares during the period. Roblox makes up approximately 0.9% of SOL Capital Management CO’s holdings, making the stock its 29th biggest position. SOL Capital Management CO’s holdings in Roblox were worth $10,098,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBLX. Norges Bank acquired a new stake in Roblox in the second quarter valued at approximately $350,720,000. Federated Hermes Inc. boosted its stake in Roblox by 103.0% in the second quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock worth $341,410,000 after buying an additional 1,646,871 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Roblox by 47.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock worth $503,718,000 after buying an additional 1,531,380 shares during the period. Vanguard Group Inc. raised its holdings in Roblox by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock worth $6,222,993,000 after purchasing an additional 1,513,608 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Roblox by 359.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock valued at $191,295,000 after buying an additional 1,422,894 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Trading Up 3.1%

NYSE:RBLX opened at $87.27 on Friday. The firm has a 50-day simple moving average of $88.90 and a 200-day simple moving average of $111.90. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $57.15 billion, a P/E ratio of -61.03 and a beta of 1.64.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.07. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business posted ($0.37) earnings per share. The company’s revenue for the quarter was up 70.3% compared to the same quarter last year. Equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, insider Arvind Chakravarthy sold 20,912 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total value of $1,991,449.76. Following the transaction, the insider directly owned 181,043 shares of the company’s stock, valued at approximately $17,240,724.89. The trade was a 10.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Naveen K. Chopra sold 19,424 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total value of $1,849,747.52. Following the completion of the sale, the chief financial officer owned 337,036 shares in the company, valued at $32,095,938.28. This represents a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 504,300 shares of company stock valued at $46,290,436. Corporate insiders own 12.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RBLX. Citigroup boosted their price target on Roblox from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. BTIG Research reduced their price target on shares of Roblox from $180.00 to $174.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. BMO Capital Markets lifted their price target on shares of Roblox from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. B. Riley assumed coverage on shares of Roblox in a research note on Tuesday, December 9th. They set a “buy” rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. cut Roblox from an “overweight” rating to a “neutral” rating and cut their target price for the company from $145.00 to $100.00 in a research note on Friday, December 12th. Seventeen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.65.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.