Chicago Partners Investment Group LLC Decreases Stake in Roblox Corporation (NYSE:RBLX)

Chicago Partners Investment Group LLC lessened its stake in Roblox Corporation (NYSE:RBLX) by 34.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,814 shares of the company’s stock after selling 2,038 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Roblox were worth $222,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AlpInvest Partners B.V. boosted its stake in shares of Roblox by 25.0% in the 1st quarter. AlpInvest Partners B.V. now owns 41,100 shares of the company’s stock valued at $2,396,000 after buying an additional 8,220 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Roblox by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,323,611 shares of the company’s stock worth $135,443,000 after acquiring an additional 175,770 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Roblox during the 1st quarter worth about $1,942,000. Fi3 FINANCIAL ADVISORS LLC acquired a new stake in shares of Roblox during the 1st quarter worth about $251,000. Finally, AXS Investments LLC acquired a new stake in shares of Roblox during the 1st quarter worth about $441,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insiders Place Their Bets

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $129.37, for a total transaction of $8,538,420.00. Following the sale, the director directly owned 279,868 shares in the company, valued at approximately $36,206,523.16. The trade was a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea L. Wong sold 5,770 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $130.40, for a total value of $752,408.00. Following the sale, the director owned 41,891 shares in the company, valued at approximately $5,462,586.40. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,201,935 shares of company stock valued at $499,388,389 in the last three months. 12.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RBLX shares. The Goldman Sachs Group raised their target price on Roblox from $63.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Wedbush raised their target price on Roblox from $142.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on Roblox from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Macquarie raised their target price on Roblox from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Finally, Benchmark raised their target price on Roblox from $77.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.59.

Roblox Trading Down 0.9%

NYSE:RBLX opened at $129.51 on Wednesday. The firm has a market cap of $83.54 billion, a P/E ratio of -90.57 and a beta of 1.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The stock’s 50 day simple moving average is $111.20 and its 200-day simple moving average is $81.78. Roblox Corporation has a 12-month low of $37.50 and a 12-month high of $150.59.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 50.5% compared to the same quarter last year. Equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current year.

Roblox Company Profile

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.