IHT Wealth Management LLC Acquires 5,871 Shares of Roblox Co. (NYSE:RBLX)

IHT Wealth Management LLC lifted its stake in shares of Roblox Co. (NYSE:RBLX) by 50.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 17,615 shares of the company’s stock after purchasing an additional 5,871 shares during the quarter. IHT Wealth Management LLC’s holdings in Roblox were worth $775,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Investment Management Corp of Ontario increased its holdings in Roblox by 50.6% in the third quarter. Investment Management Corp of Ontario now owns 15,780 shares of the company’s stock valued at $698,000 after purchasing an additional 5,300 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Roblox by 15.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,526,516 shares of the company’s stock worth $111,824,000 after purchasing an additional 336,491 shares in the last quarter. Janus Henderson Group PLC lifted its position in Roblox by 3.9% in the 3rd quarter. Janus Henderson Group PLC now owns 48,908 shares of the company’s stock valued at $2,164,000 after acquiring an additional 1,827 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Roblox by 12,971.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock valued at $2,302,000 after acquiring an additional 51,626 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Roblox in the 3rd quarter valued at about $20,802,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Manuel Bronstein sold 40,739 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $45.00, for a total value of $1,833,255.00. Following the sale, the insider now owns 727,485 shares in the company, valued at approximately $32,736,825. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 3,443 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.01, for a total value of $154,969.43. Following the sale, the chief financial officer now owns 352,844 shares in the company, valued at approximately $15,881,508.44. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,038,607 shares of company stock valued at $49,713,872 in the last quarter. Insiders own 22.15% of the company’s stock.

Roblox Stock Performance

NYSE RBLX opened at $59.29 on Friday. The stock’s fifty day moving average is $47.03 and its two-hundred day moving average is $42.08. The firm has a market capitalization of $36.02 billion, a P/E ratio of -36.15 and a beta of 1.50. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $59.80.

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

Analyst Ratings Changes

A number of research firms recently weighed in on RBLX. Benchmark lifted their price objective on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Morgan Stanley raised shares of Roblox from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $38.00 to $65.00 in a research note on Monday, November 4th. Needham & Company LLC raised their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup increased their price target on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

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.