23,286 Shares in Roblox Corporation $RBLX Bought by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC acquired a new position in shares of Roblox Corporation (NYSE:RBLX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,286 shares of the company’s stock, valued at approximately $1,887,000.

Several other hedge funds have also added to or reduced their stakes in the business. Baird Financial Group Inc. raised its stake in shares of Roblox by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after purchasing an additional 102 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after purchasing an additional 105 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Roblox by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock valued at $560,000 after purchasing an additional 110 shares during the period. Westpac Banking Corp raised its stake in shares of Roblox by 0.6% in the 3rd quarter. Westpac Banking Corp now owns 20,043 shares of the company’s stock valued at $2,776,000 after purchasing an additional 115 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Roblox by 1.3% in the 2nd quarter. NewEdge Advisors LLC now owns 10,374 shares of the company’s stock valued at $1,091,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amy Marie Rawlings sold 2,895 shares of Roblox stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.24, for a total value of $130,969.80. Following the completion of the sale, the chief accounting officer directly owned 35,238 shares in the company, valued at approximately $1,594,167.12. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Reinstra sold 5,460 shares of Roblox stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $46.40, for a total transaction of $253,344.00. Following the completion of the sale, the insider owned 432,738 shares of the company’s stock, valued at approximately $20,079,043.20. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 183,471 shares of company stock valued at $8,930,068 in the last quarter. Corporate insiders own 10.05% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the topic of several recent research reports. Roth Mkm set a $65.00 price target on Roblox in a research note on Tuesday, May 5th. HSBC cut Roblox from a “buy” rating to a “hold” rating and set a $46.00 price objective for the company. in a report on Friday, May 1st. The Goldman Sachs Group decreased their price objective on Roblox from $125.00 to $65.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a report on Friday, March 27th. Finally, Bank of America cut Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $87.07.

Roblox Trading Down 3.3%

Roblox stock opened at $41.92 on Friday. Roblox Corporation has a 52 week low of $40.15 and a 52 week high of $150.59. The stock has a market capitalization of $28.15 billion, a P/E ratio of -26.53 and a beta of 1.44. The stock has a 50-day simple moving average of $51.24 and a 200 day simple moving average of $67.43. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned ($0.32) earnings per share. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. Analysts expect that Roblox Corporation will post -1.4 earnings per share for the current year.

Roblox announced that its board has authorized a share repurchase plan on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Roblox Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.