Forum Financial Management LP Acquires Shares of 3,861 Roblox Co. (NYSE:RBLX)

Forum Financial Management LP acquired a new position in shares of Roblox Co. (NYSE:RBLX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,861 shares of the company's stock, valued at approximately $223,000.

Several other hedge funds have also bought and sold shares of RBLX. Gordian Capital Singapore Pte Ltd raised its holdings in shares of Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after purchasing an additional 240 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Roblox in the fourth quarter worth $41,000. Parkside Financial Bank & Trust boosted its position in shares of Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after acquiring an additional 230 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock worth $55,000 after acquiring an additional 195 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Roblox by 188.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock worth $56,000 after acquiring an additional 633 shares during the last quarter. Institutional investors own 94.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. FBN Securities assumed coverage on shares of Roblox in a research report on Friday, March 28th. They set a "sector perform" rating and a $65.00 price objective for the company. OTR Global upgraded shares of Roblox from a "mixed" rating to a "positive" rating in a research report on Monday, February 3rd. Macquarie increased their price objective on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Canaccord Genuity Group increased their target price on shares of Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Barclays increased their target price on shares of Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roblox has an average rating of "Moderate Buy" and an average target price of $70.86.

Insider Activity

In other news, CFO Michael Guthrie sold 50,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $60.14, for a total value of $3,007,000.00. Following the sale, the chief financial officer now directly owns 395,465 shares in the company, valued at approximately $23,783,265.10. This trade represents a 11.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Baszucki sold 1,375,002 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 221,983 shares in the company, valued at $16,024,952.77. This represents a 86.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,532,039 shares of company stock worth $177,792,818. Corporate insiders own 12.92% of the company's stock.

Roblox Stock Up 2.6%

NYSE RBLX traded up $2.21 during trading on Friday, reaching $87.00. 14,082,697 shares of the company's stock traded hands, compared to its average volume of 7,772,441. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market cap of $59.01 billion, a price-to-earnings ratio of -60.00 and a beta of 1.46. The company's 50 day simple moving average is $67.73 and its two-hundred day simple moving average is $62.86. Roblox Co. has a 12-month low of $33.07 and a 12-month high of $87.10.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted ($0.43) EPS. The company's revenue for the quarter was up 30.6% on a year-over-year basis. As a group, sell-side analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

Roblox 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.