Family Legacy Inc. Makes New Investment in Roblox Co. (NYSE:RBLX)

Family Legacy Inc. purchased a new stake in shares of Roblox Co. (NYSE:RBLX) during the fourth quarter, Holdings Channel reports. The firm purchased 3,308 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors have also recently modified their holdings of RBLX. Vanguard Group Inc. boosted its stake in shares of Roblox by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company’s stock valued at $3,080,449,000 after purchasing an additional 462,450 shares during the period. Wealthfront Advisers LLC increased its position in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after purchasing an additional 17,312,325 shares during the period. Ieq Capital LLC lifted its position in shares of Roblox by 26.8% in the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after purchasing an additional 3,507,901 shares during the period. State Street Corp lifted its holdings in Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after buying an additional 240,565 shares during the period. Finally, ValueAct Holdings L.P. boosted its position in Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after acquiring an additional 7,835,921 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Roblox

In other news, insider Mark Reinstra sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $64.98, for a total value of $3,249,000.00. Following the transaction, the insider now directly owns 281,161 shares in the company, valued at approximately $18,269,841.78. This represents a 15.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Manuel Bronstein sold 14,721 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $61.10, for a total transaction of $899,453.10. Following the completion of the transaction, the insider now owns 598,929 shares in the company, valued at $36,594,561.90. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 926,466 shares of company stock worth $60,212,297 over the last quarter. Insiders own 22.15% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Morgan Stanley lifted their price target on shares of Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wedbush restated an “outperform” rating and issued a $83.00 price objective on shares of Roblox in a report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $71.00 price target on shares of Roblox in a research note on Tuesday, March 18th. Finally, Roth Mkm increased their price target on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.23.

Roblox Trading Down 0.9 %

Shares of RBLX opened at $58.99 on Monday. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $75.74. The company has a 50 day simple moving average of $63.22 and a two-hundred day simple moving average of $55.56. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market cap of $36.51 billion, a P/E ratio of -40.68 and a beta of 1.49.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, equities analysts expect that Roblox Co. will post -1.49 earnings per share for the current fiscal 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.