Peterson Wealth Management Has $1.29 Million Position in Roblox Co. (NYSE:RBLX)

Peterson Wealth Management reduced its stake in shares of Roblox Co. (NYSE:RBLX) by 25.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,035 shares of the company’s stock after selling 10,000 shares during the quarter. Peterson Wealth Management’s holdings in Roblox were worth $1,285,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in Roblox by 1.9% in the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after purchasing an additional 535,414 shares during the period. FMR LLC increased its position in 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 purchasing an additional 4,115,286 shares during the period. ARK Investment Management LLC increased its position in Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after purchasing an additional 1,519,591 shares during the period. Dragoneer Investment Group LLC boosted its holdings in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Roblox by 17.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company’s stock worth $371,535,000 after buying an additional 1,491,726 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on RBLX. Needham & Company LLC raised their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Piper Sandler raised their target price on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, BTIG Research raised their target price on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.30.

Roblox Trading Up 0.6 %

NYSE RBLX opened at $49.37 on Friday. The stock’s 50 day moving average price is $46.21 and its two-hundred day moving average price is $41.27. 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 52 week low of $29.55 and a 52 week high of $55.10.

Roblox (NYSE:RBLX) last posted 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 firm had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.45) EPS. As a group, research analysts forecast that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Activity at Roblox

In other news, insider Manuel Bronstein sold 40,739 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $45.00, for a total transaction of $1,833,255.00. Following the completion of the sale, the insider now directly owns 727,485 shares in the company, valued at approximately $32,736,825. This represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 3,443 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were 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 of the company’s stock, valued at approximately $15,881,508.44. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,013,607 shares of company stock worth $48,434,122 in the last ninety days. 22.15% of the stock is owned by company insiders.

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.