West Tower Group LLC Makes New Investment in Roblox Co. (NYSE:RBLX)

West Tower Group LLC bought a new stake in Roblox Co. (NYSE:RBLX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the company’s stock, valued at approximately $266,000.

Other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in Roblox by 5.6% in the third quarter. Daiwa Securities Group Inc. now owns 55,239 shares of the company’s stock valued at $2,445,000 after purchasing an additional 2,927 shares during the period. Swedbank AB boosted its stake in shares of Roblox by 22.5% during the third quarter. Swedbank AB now owns 65,302 shares of the company’s stock worth $2,890,000 after buying an additional 12,005 shares during the period. Penserra Capital Management LLC grew its holdings in shares of Roblox by 9.0% during the third quarter. Penserra Capital Management LLC now owns 83,999 shares of the company’s stock worth $3,716,000 after buying an additional 6,941 shares during the last quarter. Pitcairn Co. acquired a new position in Roblox in the 3rd quarter valued at about $289,000. Finally, Algert Global LLC raised its stake in Roblox by 42.6% during the 3rd quarter. Algert Global LLC now owns 18,906 shares of the company’s stock valued at $837,000 after acquiring an additional 5,646 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on RBLX shares. Benchmark lifted their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. BTIG Research boosted their price objective on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Macquarie raised their target price on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Piper Sandler boosted their price target on shares of Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Roblox Price Performance

Roblox stock opened at $49.16 on Tuesday. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $55.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm’s 50-day simple moving average is $46.06 and its 200 day simple moving average is $41.09. The firm has a market capitalization of $29.87 billion, a PE ratio of -29.98 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm earned ($0.45) EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts predict that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In related news, CFO Michael Guthrie sold 21,657 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total transaction of $1,113,819.51. Following the completion of the sale, the chief financial officer now owns 331,187 shares of the company’s stock, valued at approximately $17,032,947.41. This represents a 6.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the 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 directly owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,010,503 shares of company stock worth $48,145,999. Corporate insiders own 22.15% of the company’s stock.

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.