Sunbelt Securities Inc. Trims Stake in Roblox Co. (NYSE:RBLX)

Sunbelt Securities Inc. cut its stake in Roblox Co. (NYSE:RBLX) by 18.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,679 shares of the company’s stock after selling 610 shares during the period. Sunbelt Securities Inc.’s holdings in Roblox were worth $119,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RBLX. Swedbank AB boosted its position in shares of Roblox by 0.5% during the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after purchasing an additional 285 shares in the last quarter. Blue Trust Inc. lifted its position in Roblox by 1,836.5% during the 2nd quarter. Blue Trust Inc. now owns 3,931 shares of the company’s stock valued at $150,000 after acquiring an additional 3,728 shares during the period. First Horizon Advisors Inc. boosted its stake in Roblox by 44.9% during the second quarter. First Horizon Advisors Inc. now owns 2,593 shares of the company’s stock worth $96,000 after acquiring an additional 804 shares in the last quarter. SOL Capital Management CO grew its holdings in Roblox by 4.1% in the second quarter. SOL Capital Management CO now owns 87,997 shares of the company’s stock worth $3,274,000 after purchasing an additional 3,477 shares during the period. Finally, Unique Wealth Strategies LLC bought a new position in shares of Roblox during the second quarter valued at approximately $96,000. 94.46% of the stock is owned by institutional investors.

Roblox Stock Performance

RBLX opened at $59.60 on Friday. The company’s 50 day moving average is $48.88 and its 200 day moving average is $43.23. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a market cap of $36.21 billion, a price-to-earnings ratio of -36.34 and a beta of 1.50. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $61.05.

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

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 166,666 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $45.56, for a total value of $7,593,302.96. Following the completion of the transaction, the chief executive officer now owns 135,755 shares of the company’s stock, valued at approximately $6,184,997.80. This represents a 55.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $41.50, for a total value of $1,245,000.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $14,643,026. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,457,267 shares of company stock valued at $74,422,648. Company insiders own 22.15% of the company’s stock.

Analyst Upgrades and Downgrades

RBLX has been the topic of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Piper Sandler increased their target price on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $55.67.

About Roblox

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.