Parallel Advisors LLC Raises Holdings in Roblox Co. (NYSE:RBLX)

Parallel Advisors LLC lifted its stake in Roblox Co. (NYSE:RBLX) by 39.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,285 shares of the company’s stock after buying an additional 10,585 shares during the quarter. Parallel Advisors LLC’s holdings in Roblox were worth $2,157,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RBLX. Versant Capital Management Inc boosted its position in Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares in the last quarter. Huntington National Bank boosted its position in Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after purchasing an additional 770 shares in the last quarter. Rakuten Securities Inc. boosted its position in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Roblox by 188.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 633 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RBLX shares. Moffett Nathanson downgraded Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a research report on Friday, February 7th. Needham & Company LLC raised their target price on Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group raised their target price on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. OTR Global upgraded Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.19.

Insider Transactions at Roblox

In other news, CFO Michael Guthrie sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $60.14, for a total transaction of $3,007,000.00. Following the completion of the transaction, the chief financial officer now directly owns 395,465 shares in the company, valued at $23,783,265.10. This trade represents a 11.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Reinstra sold 24,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $59.75, for a total value of $1,434,000.00. Following the transaction, the insider now owns 278,161 shares of the company’s stock, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 916,367 shares of company stock worth $59,700,949 over the last ninety days. Company insiders own 22.15% of the company’s stock.

Roblox Price Performance

RBLX stock opened at $56.04 on Wednesday. The business has a fifty day moving average of $63.71 and a two-hundred day moving average of $54.65. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The stock has a market cap of $34.69 billion, a price-to-earnings ratio of -38.64 and a beta of 1.49. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $75.74.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. As a group, research analysts anticipate that Roblox Co. will post -1.49 earnings per share for the current year.

Roblox Company 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.