Parallel Advisors LLC Sells 5,647 Shares of Roblox Co. (NYSE:RBLX)

Parallel Advisors LLC cut its stake in Roblox Co. (NYSE:RBLX - Free Report) by 15.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,638 shares of the company's stock after selling 5,647 shares during the period. Parallel Advisors LLC's holdings in Roblox were worth $1,844,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Chicago Partners Investment Group LLC bought a new position in shares of Roblox in the 4th quarter worth approximately $363,000. Silicon Valley Capital Partners boosted its holdings in shares of Roblox by 3,010.0% during the 4th quarter. Silicon Valley Capital Partners now owns 69,104 shares of the company's stock valued at $3,998,000 after buying an additional 66,882 shares in the last quarter. V Square Quantitative Management LLC increased 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 worth $149,000 after acquiring an additional 1,971 shares in the last quarter. Amundi boosted its stake in Roblox by 111.4% during the fourth quarter. Amundi now owns 3,191,137 shares of the company's stock worth $198,010,000 after acquiring an additional 1,681,263 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Roblox by 101.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock valued at $40,762,000 after purchasing an additional 355,270 shares in the last quarter. 94.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RBLX. Needham & Company LLC reaffirmed a "buy" rating on shares of Roblox in a research report on Friday, May 2nd. Benchmark boosted their price objective on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. OTR Global upgraded Roblox from a "mixed" rating to a "positive" rating in a research note on Monday, February 3rd. Roth Mkm upped their price target on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Oppenheimer lifted their price objective on Roblox from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $72.14.

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 34,099 shares of Roblox stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $57.05, for a total value of $1,945,347.95. Following the completion of the transaction, the chief executive officer now owns 221,983 shares in the company, valued at approximately $12,664,130.15. This trade represents a 13.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were 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 trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,273,985 shares of company stock valued at $161,292,582 in the last 90 days. Insiders own 12.92% of the company's stock.

Roblox Price Performance

Shares of NYSE RBLX traded down $0.01 during mid-day trading on Tuesday, reaching $89.94. The company's stock had a trading volume of 5,867,995 shares, compared to its average volume of 7,765,898. The stock has a fifty day moving average of $68.31 and a two-hundred day moving average of $63.28. The firm has a market capitalization of $61.01 billion, a PE ratio of -62.03 and a beta of 1.46. Roblox Co. has a 52 week low of $33.88 and a 52 week high of $91.01. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The company's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.43) earnings per share. As a group, sell-side analysts anticipate that Roblox Co. will post -1.49 EPS 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.