Baird Financial Group Inc. Lowers Stake in Roblox Co. (NYSE:RBLX)

Baird Financial Group Inc. reduced its position in Roblox Co. (NYSE:RBLX) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,850 shares of the company’s stock after selling 520 shares during the quarter. Baird Financial Group Inc.’s holdings in Roblox were worth $396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bayesian Capital Management LP raised its holdings in shares of Roblox by 47.3% in the fourth quarter. Bayesian Capital Management LP now owns 73,200 shares of the company’s stock valued at $4,235,000 after acquiring an additional 23,500 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Roblox by 35.2% in the fourth quarter. Ameriprise Financial Inc. now owns 460,217 shares of the company’s stock valued at $26,629,000 after acquiring an additional 119,942 shares in the last quarter. Freestone Grove Partners LP bought a new position in Roblox in the fourth quarter worth about $7,683,000. Voleon Capital Management LP bought a new position in Roblox in the fourth quarter worth about $4,048,000. Finally, Utah Retirement Systems raised its holdings in Roblox by 3.1% in the fourth quarter. Utah Retirement Systems now owns 87,116 shares of the company’s stock worth $5,041,000 after purchasing an additional 2,600 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Roblox Price Performance

Shares of NYSE:RBLX opened at $80.70 on Friday. Roblox Co. has a twelve month low of $31.59 and a twelve month high of $80.90. The company’s 50 day moving average is $62.20 and its 200 day moving average is $60.41. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The company has a market cap of $50.84 billion, a PE ratio of -55.65 and a beta of 1.46.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned ($0.43) EPS. Roblox’s quarterly revenue was up 30.6% on a year-over-year basis. On average, sell-side analysts forecast that Roblox Co. will post -1.49 EPS for the current year.

Insiders Place Their Bets

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $57.99, for a total value of $347,940.00. Following the sale, the insider now owns 364,244 shares in the company, valued at approximately $21,122,509.56. This represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Baszucki sold 1,375,002 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the sale, the chief executive officer now owns 221,983 shares in the company, valued at approximately $16,024,952.77. This represents a 86.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,344,632 shares of company stock worth $160,151,753. Corporate insiders own 22.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RBLX shares. Macquarie boosted their target price on shares of Roblox from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Roth Mkm boosted their target price on shares of Roblox from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Canaccord Genuity Group boosted their target price on shares of Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a “buy” rating on shares of Roblox in a report on Friday, May 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Roblox in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and an average price target 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.