State of Wyoming Reduces Stock Holdings in Roblox Corporation $RBLX

State of Wyoming lowered its holdings in shares of Roblox Corporation (NYSE:RBLX) by 77.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,239 shares of the company’s stock after selling 14,448 shares during the period. State of Wyoming’s holdings in Roblox were worth $587,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Jones Financial Companies Lllp grew its holdings in shares of Roblox by 13.9% during the third quarter. Jones Financial Companies Lllp now owns 15,788 shares of the company’s stock worth $2,132,000 after buying an additional 1,928 shares in the last quarter. AXS Investments LLC grew its stake in Roblox by 4.2% in the 3rd quarter. AXS Investments LLC now owns 8,610 shares of the company’s stock worth $1,193,000 after acquiring an additional 346 shares during the period. Fortem Financial Group LLC acquired a new position in Roblox in the 3rd quarter valued at $249,000. Transcend Capital Advisors LLC lifted its stake in shares of Roblox by 30.6% during the 3rd quarter. Transcend Capital Advisors LLC now owns 7,947 shares of the company’s stock worth $1,101,000 after purchasing an additional 1,861 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Roblox by 1,658.9% during the third quarter. Thrivent Financial for Lutherans now owns 69,529 shares of the company’s stock worth $9,631,000 after purchasing an additional 65,576 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Price Performance

RBLX opened at $65.31 on Wednesday. The company has a market capitalization of $42.77 billion, a P/E ratio of -45.67 and a beta of 1.63. The company has a 50-day moving average of $83.00 and a 200-day moving average of $108.94. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.96 and a current ratio of 0.96. Roblox Corporation has a 1-year low of $50.10 and a 1-year high of $150.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RBLX shares. Morgan Stanley lowered their target price on shares of Roblox from $170.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Citigroup lifted their price target on shares of Roblox from $152.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Benchmark restated a “hold” rating on shares of Roblox in a report on Monday. Wall Street Zen raised Roblox from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, UBS Group set a $155.00 price target on Roblox in a research report on Tuesday, January 13th. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $130.88.

Insider Buying and Selling

In other Roblox news, insider Matthew D. Kaufman sold 20,867 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $96.10, for a total value of $2,005,318.70. Following the completion of the transaction, the insider owned 239,775 shares in the company, valued at approximately $23,042,377.50. This represents a 8.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Arvind Chakravarthy sold 20,912 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total transaction of $1,991,449.76. Following the completion of the sale, the insider owned 181,043 shares in the company, valued at $17,240,724.89. The trade was a 10.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 429,899 shares of company stock worth $38,492,731. Company insiders own 12.92% of the company’s stock.

About Roblox

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.