Roblox Co. (NYSE:RBLX) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in Roblox Co. (NYSE:RBLX - Free Report) by 47.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,047 shares of the company's stock after selling 19,981 shares during the period. Cresset Asset Management LLC's holdings in Roblox were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Roblox by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company's stock valued at $3,080,449,000 after purchasing an additional 462,450 shares during the last quarter. FMR LLC increased its position in shares of Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after purchasing an additional 18,715,837 shares during the last quarter. Wealthfront Advisers LLC raised its position in Roblox by 74,400.8% in the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock worth $1,063,365,000 after purchasing an additional 17,312,325 shares during the period. Ieq Capital LLC boosted its holdings in Roblox by 26.8% during the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock valued at $960,049,000 after acquiring an additional 3,507,901 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Roblox by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company's stock valued at $495,564,000 after purchasing an additional 246,610 shares during the period. Institutional investors own 94.46% of the company's stock.

Insider Transactions at Roblox

In other Roblox news, CFO Michael Guthrie sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $61.14, for a total value of $3,057,000.00. Following the sale, the chief financial officer now directly owns 395,465 shares of the company's stock, valued at approximately $24,178,730.10. This trade represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Baszucki sold 1,375,002 shares of the business'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 sale, the chief executive officer now owns 221,983 shares of the company's stock, valued at approximately $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,344,632 shares of company stock worth $160,151,753 over the last 90 days. 22.15% of the stock is currently owned by company insiders.

Roblox Stock Up 1.6%

NYSE:RBLX traded up $1.25 during midday trading on Thursday, reaching $80.70. 11,128,299 shares of the stock traded hands, compared to its average volume of 7,725,686. The business has a 50-day moving average of $61.66 and a two-hundred day moving average of $60.14. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox Co. has a 12-month low of $31.55 and a 12-month high of $80.89. The stock has a market capitalization of $50.84 billion, a PE ratio of -55.65 and a beta of 1.46.

Roblox (NYSE:RBLX - Get Free Report) 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. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The company's quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) earnings per share. On average, equities analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on RBLX shares. FBN Securities began coverage on shares of Roblox in a report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price target on the stock. Wedbush restated an "outperform" rating and set a $83.00 target price on shares of Roblox in a report on Thursday, April 24th. Needham & Company LLC reissued a "buy" rating on shares of Roblox in a research report on Friday, May 2nd. Roth Mkm boosted their price target on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Benchmark raised their price objective on Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.68.

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.