Crestone Asset Management LLC Sells 3,834 Shares of Roblox Co. (NYSE:RBLX)

Crestone Asset Management LLC reduced its holdings in shares of Roblox Co. (NYSE:RBLX) by 23.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,719 shares of the company’s stock after selling 3,834 shares during the period. Crestone Asset Management LLC’s holdings in Roblox were worth $582,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Roblox by 171.8% in the 3rd quarter. Barclays PLC now owns 1,086,243 shares of the company’s stock valued at $31,457,000 after buying an additional 686,594 shares in the last quarter. Aviva PLC lifted its holdings in shares of Roblox by 202.5% during the 3rd quarter. Aviva PLC now owns 195,411 shares of the company’s stock valued at $5,659,000 after purchasing an additional 130,818 shares during the last quarter. Morgan Stanley boosted its position in shares of Roblox by 13.7% in the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after purchasing an additional 4,927,848 shares in the last quarter. Vanguard Group Inc. grew its stake in Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after buying an additional 10,025,779 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Roblox during the 3rd quarter valued at about $6,415,000. Institutional investors own 91.08% of the company’s stock.

Roblox Price Performance

Shares of NYSE RBLX traded down $1.51 during midday trading on Wednesday, reaching $39.03. 8,529,769 shares of the company traded hands, compared to its average volume of 7,406,328. The stock’s 50-day simple moving average is $38.03 and its 200-day simple moving average is $39.45. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. Roblox Co. has a 12 month low of $24.88 and a 12 month high of $47.20. The firm has a market cap of $24.65 billion, a PE ratio of -20.99 and a beta of 1.63.

Roblox (NYSE:RBLX) last announced its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned ($0.48) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, equities analysts anticipate that Roblox Co. will post -2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $153,497.28. Following the transaction, the chief accounting officer now directly owns 96,125 shares in the company, valued at $3,906,520. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the transaction, the chief accounting officer now owns 96,125 shares in the company, valued at $3,906,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Baszucki sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $44.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 712,374 shares of company stock worth $29,639,338. 22.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Roblox from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $41.00 to $48.00 in a research note on Tuesday, April 23rd. Wedbush raised their price target on shares of Roblox from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Roth Mkm reissued a “buy” rating and set a $55.00 price objective on shares of Roblox in a report on Wednesday, May 1st. Benchmark reissued a “buy” rating and issued a $50.00 price objective on shares of Roblox in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group raised shares of Roblox from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $48.00 in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

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.