Bangor Savings Bank Makes New $818,000 Investment in Roblox Corporation $RBLX

Bangor Savings Bank bought a new position in Roblox Corporation (NYSE:RBLX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,306 shares of the company’s stock, valued at approximately $818,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RBLX. Renaissance Technologies LLC raised its holdings in Roblox by 7.5% during the first quarter. Renaissance Technologies LLC now owns 7,126,134 shares of the company’s stock worth $403,054,000 after purchasing an additional 497,625 shares in the last quarter. Amundi boosted its holdings in Roblox by 83.7% in the 1st quarter. Amundi now owns 5,774,151 shares of the company’s stock valued at $326,586,000 after purchasing an additional 2,631,074 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Roblox by 10.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,451,881 shares of the company’s stock worth $251,798,000 after purchasing an additional 416,206 shares during the period. Artisan Partners Limited Partnership increased its position in Roblox by 18.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,292,340 shares of the company’s stock worth $185,748,000 after purchasing an additional 365,125 shares during the period. Finally, Amova Asset Management Americas Inc. increased its position in Roblox by 17.0% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,238,160 shares of the company’s stock worth $183,247,000 after purchasing an additional 469,379 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RBLX shares. Citigroup decreased their price target on Roblox from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. DA Davidson set a $40.00 price objective on Roblox in a research report on Friday, July 31st. Wells Fargo & Company raised their target price on Roblox from $46.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, September 14th. BTIG Research boosted their target price on shares of Roblox from $30.00 to $41.00 and gave the stock a “sell” rating in a research report on Tuesday, September 15th. Finally, Roth Capital upped their price target on shares of Roblox from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.79.

Insider Buying and Selling at Roblox

In other Roblox news, insider Mark Reinstra sold 17,934 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $680,774.64. Following the completion of the transaction, the insider directly owned 398,064 shares in the company, valued at approximately $15,110,509.44. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,904 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $565,755.84. Following the transaction, the insider owned 335,060 shares of the company’s stock, valued at $12,718,877.60. This trade represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 186,390 shares of company stock worth $7,283,371. Insiders own 10.05% of the company’s stock.

Roblox Price Performance

Shares of RBLX traded up $1.10 on Tuesday, reaching $45.68. The stock had a trading volume of 10,815,152 shares, compared to its average volume of 11,855,800. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $141.95. The firm has a market capitalization of $30.60 billion, a PE ratio of -31.94 and a beta of 1.47. The firm has a 50-day moving average of $42.26 and a 200 day moving average of $48.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.08. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.Roblox’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.41) earnings per share. Sell-side analysts expect that Roblox Corporation will post -1.39 EPS for the current year.

About Roblox

Roblox Corporation (NYSE:RBLX) operates an online entertainment platform where users can create, share and experience interactive 3D content. The platform hosts user-generated games and other virtual experiences across genres, including entertainment, social activities, education and simulated environments.

Roblox provides development tools through Roblox Studio, enabling creators to build and publish experiences, digital items and other content. Users can customize avatars, interact with others and access the platform across supported computers, mobile devices, gaming consoles and virtual reality systems.