Cetera Investment Advisers Sells 4,798 Shares of Roblox Co. (NYSE:RBLX)

Cetera Investment Advisers trimmed its holdings in Roblox Co. (NYSE:RBLX) by 13.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,887 shares of the company’s stock after selling 4,798 shares during the period. Cetera Investment Advisers’ holdings in Roblox were worth $1,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RBLX. Merit Financial Group LLC purchased a new stake in shares of Roblox in the fourth quarter worth approximately $736,000. Ballentine Partners LLC raised its holdings in shares of Roblox by 172.3% in the fourth quarter. Ballentine Partners LLC now owns 77,315 shares of the company’s stock worth $4,473,000 after buying an additional 48,919 shares during the period. Atomi Financial Group Inc. raised its holdings in shares of Roblox by 0.7% in the fourth quarter. Atomi Financial Group Inc. now owns 137,642 shares of the company’s stock worth $7,964,000 after buying an additional 984 shares during the period. Simon Quick Advisors LLC raised its holdings in shares of Roblox by 4.6% in the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after buying an additional 217 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of Roblox by 38.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,507 shares of the company’s stock worth $1,476,000 after acquiring an additional 7,103 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Price Performance

Shares of RBLX opened at $81.16 on Tuesday. Roblox Co. has a twelve month low of $31.59 and a twelve month high of $82.02. The company has a 50 day moving average of $63.22 and a two-hundred day moving average of $61.07. 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 company has a market cap of $51.13 billion, a price-to-earnings ratio of -55.97 and a beta of 1.46.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted ($0.43) earnings per share. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, analysts predict that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 1,375,002 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the completion of the transaction, the chief executive officer now owns 221,983 shares of the company’s stock, valued at $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 4,468 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.34, for a total transaction of $274,067.12. Following the transaction, the chief accounting officer now directly owns 75,583 shares of the company’s stock, valued at approximately $4,636,261.22. This trade represents a 5.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,432,954 shares of company stock worth $167,209,673. Company insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RBLX shares. OTR Global raised shares of Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. Wedbush reaffirmed an “outperform” rating and set a $83.00 target price on shares of Roblox in a research report on Thursday, April 24th. Morgan Stanley reduced their target price on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Moffett Nathanson downgraded shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective on the stock. in a research note on Friday, February 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Roblox from $63.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.68.

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.