Wedmont Private Capital Makes New Investment in Roblox Co. (NYSE:RBLX)

Wedmont Private Capital purchased a new position in shares of Roblox Co. (NYSE:RBLX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,915 shares of the company’s stock, valued at approximately $493,000.

A number of other institutional investors have also recently bought and sold shares of RBLX. PARK CIRCLE Co acquired a new stake in shares of Roblox in the 2nd quarter valued at $30,000. GAMMA Investing LLC boosted its stake in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares in the last quarter. Gilliland Jeter Wealth Management LLC boosted its stake in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox in the 1st quarter valued at $39,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Roblox by 98.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RBLX shares. Citigroup lifted their price target on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on Roblox from $46.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark lifted their price target on Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lifted their price target on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Wolfe Research started coverage on Roblox in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $46.14.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony P. Lee sold 27,532 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.52, for a total transaction of $1,198,192.64. Following the transaction, the director now directly owns 165,190 shares of the company’s stock, valued at $7,189,068.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 625,673 shares of company stock worth $27,331,806. 22.15% of the stock is owned by company insiders.

Roblox Stock Performance

Shares of RBLX stock opened at $41.60 on Friday. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $24.90 billion, a PE ratio of -24.19 and a beta of 1.60. The stock has a 50-day moving average of $42.72 and a 200-day moving average of $38.84. Roblox Co. has a one year low of $29.55 and a one year high of $48.43.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The company had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. During the same period in the prior year, the business posted ($0.46) EPS. Roblox’s revenue was up 31.2% on a year-over-year basis. As a group, sell-side analysts expect that Roblox Co. will post -1.59 earnings per share for the current year.

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.