Envestnet Asset Management Inc. Decreases Holdings in Roblox Co. (NYSE:RBLX)

Envestnet Asset Management Inc. lowered its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,299 shares of the company's stock after selling 16,713 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Roblox were worth $4,241,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Smith Group Asset Management LLC boosted its holdings in shares of Roblox by 939.6% in the 4th quarter. Smith Group Asset Management LLC now owns 69,030 shares of the company's stock valued at $3,994,000 after purchasing an additional 62,390 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Roblox in the 4th quarter valued at $363,000. Silicon Valley Capital Partners lifted its stake in shares of Roblox by 3,010.0% in the 4th quarter. Silicon Valley Capital Partners now owns 69,104 shares of the company's stock valued at $3,998,000 after acquiring an additional 66,882 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Roblox by 320.0% in the 4th quarter. V Square Quantitative Management LLC now owns 2,587 shares of the company's stock valued at $149,000 after acquiring an additional 1,971 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of Roblox in the 4th quarter valued at $763,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 138,555 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the completion of the sale, the chief executive officer now directly owns 129,301 shares of the company's stock, valued at $9,260,537.62. This trade represents a 51.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 4,468 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.34, for a total value of $274,067.12. Following the sale, the chief accounting officer now directly owns 75,583 shares of the company's stock, valued at approximately $4,636,261.22. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 902,954 shares of company stock worth $55,354,971. Corporate insiders own 22.15% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $72.00 target price (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Benchmark reaffirmed a "buy" rating and set a $71.00 target price on shares of Roblox in a research report on Tuesday, March 18th. JPMorgan Chase & Co. raised their target price on Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. Roth Mkm raised their target price on Roblox from $54.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, Needham & Company LLC raised their target price on Roblox from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.50.

Roblox Stock Down 0.0 %

Shares of RBLX traded down $0.03 during trading hours on Tuesday, reaching $66.40. The stock had a trading volume of 8,246,189 shares, compared to its average volume of 7,874,307. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The firm has a 50-day simple moving average of $59.18 and a 200 day simple moving average of $57.89. 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 capitalization of $41.73 billion, a price-to-earnings ratio of -45.79 and a beta of 1.49.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. Equities research analysts predict that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

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.