Ballentine Partners LLC Acquires 48,919 Shares of Roblox Co. (NYSE:RBLX)

Ballentine Partners LLC increased its holdings in shares of Roblox Co. (NYSE:RBLX) by 172.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,315 shares of the company’s stock after buying an additional 48,919 shares during the quarter. Ballentine Partners LLC’s holdings in Roblox were worth $4,473,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. FMR LLC lifted its holdings in shares of Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the last quarter. Dragoneer Investment Group LLC lifted its stake in Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. State Street Corp lifted its stake in Roblox by 2.3% in the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock valued at $480,482,000 after purchasing an additional 240,565 shares during the last quarter. ValueAct Holdings L.P. boosted its position in Roblox by 340.7% in the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after buying an additional 7,835,921 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Roblox by 5.2% during the third quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock worth $368,003,000 after buying an additional 408,915 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBLX has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Macquarie raised their price objective on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Morgan Stanley lifted their target price on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Needham & Company LLC raised their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their price objective on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.48.

Insider Buying and Selling at Roblox

In other Roblox news, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anthony P. Lee sold 250,000 shares of Roblox stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the transaction, the director now directly owns 6,254,137 shares in the company, valued at approximately $406,769,070.48. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,504,601 shares of company stock worth $81,882,735. Insiders own 22.15% of the company’s stock.

Roblox Price Performance

RBLX stock opened at $65.57 on Tuesday. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $66.51. The stock’s 50 day simple moving average is $57.12 and its 200 day simple moving average is $47.70. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted ($0.45) EPS. Roblox’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Roblox Co. will post -1.56 EPS 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.