Itau Unibanco Holding S.A. Decreases Stake in Roblox Co. (NYSE:RBLX)

Itau Unibanco Holding S.A. lessened its stake in shares of Roblox Co. (NYSE:RBLX) by 71.6% during the 3rd quarter, Holdings Channel reports. The firm owned 10,650 shares of the company’s stock after selling 26,832 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Roblox were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of RBLX. DekaBank Deutsche Girozentrale increased its holdings in Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after buying an additional 1,419 shares during the period. Entropy Technologies LP increased its stake in shares of Roblox by 168.4% in the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after acquiring an additional 62,521 shares during the period. Dragoneer Investment Group LLC raised its holdings in shares of 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 purchasing an additional 2,488,044 shares during the last quarter. FMR LLC lifted its position in Roblox by 24.5% during the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after purchasing an additional 4,115,286 shares during the period. Finally, KBC Group NV lifted its position in Roblox by 21.0% during the third quarter. KBC Group NV now owns 64,633 shares of the company’s stock valued at $2,860,000 after purchasing an additional 11,201 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Transactions at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now directly owns 91,062 shares in the company, valued at approximately $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 3,443 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.01, for a total transaction of $154,969.43. Following the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $15,881,508.44. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,038,607 shares of company stock worth $49,713,872. 22.15% of the stock is currently owned by insiders.

Roblox Stock Up 2.6 %

Shares of NYSE RBLX opened at $53.50 on Wednesday. The business’s fifty day simple moving average is $46.49 and its 200-day simple moving average is $41.73. 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 stock has a market cap of $32.50 billion, a P/E ratio of -32.62 and a beta of 1.50. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $55.10.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.02 billion. During the same period in the previous year, the company earned ($0.45) EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Roblox Co. will post -1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

RBLX has been the topic of a number of analyst reports. Macquarie raised their price objective on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a research note on Friday, November 22nd. Benchmark upped their target price on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. 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 note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Seven 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.30.

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.