Three Bridge Wealth Advisors LLC Sells 28,106 Shares of Roblox Corporation $RBLX

Key Points

• Three Bridge Wealth Advisors cut its Roblox stake by 22.3% in the fourth quarter, selling 28,106 shares and leaving it with 98,184 shares worth about $7.96 million.
• Roblox reported quarterly earnings of ($0.35) per share, beating estimates, but revenue of $1.44 billion came in below expectations even as sales rose 43.4% year over year.
• The company announced a $3 billion stock buyback plan, while analysts remain mixed with an average rating of “Hold” and an average price target of $87.07.

Three Bridge Wealth Advisors LLC lowered its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,184 shares of the company's stock after selling 28,106 shares during the period. Roblox comprises approximately 2.1% of Three Bridge Wealth Advisors LLC's holdings, making the stock its 15th largest holding. Three Bridge Wealth Advisors LLC's holdings in Roblox were worth $7,956,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Reyes Financial Architecture Inc. increased its position in shares of Roblox by 164.4% during the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company's stock worth $25,000 after purchasing an additional 194 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new position in shares of Roblox in the fourth quarter valued at approximately $27,000. Indiana Trust & Investment Management Co acquired a new stake in Roblox during the 4th quarter worth $32,000. Garner Asset Management Corp purchased a new position in Roblox in the 4th quarter worth approximately $37,000. Finally, Sunbelt Securities Inc. lifted its stake in Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company's stock worth $39,000 after purchasing an additional 105 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Price Performance

Shares of RBLX stock opened at $47.02 on Tuesday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $31.58 billion, a PE ratio of -29.76 and a beta of 1.44. The stock's fifty day moving average is $52.27 and its 200-day moving average is $68.85. Roblox Corporation has a 52 week low of $40.15 and a 52 week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.74 billion. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The business's revenue for the quarter was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) EPS. Equities research analysts expect that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox announced that its board has initiated a stock buyback plan on Tuesday, May 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Roblox

In other Roblox news, insider Mark Reinstra sold 5,460 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $46.40, for a total transaction of $253,344.00. Following the sale, the insider directly owned 432,738 shares in the company, valued at approximately $20,079,043.20. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Jack Buckley sold 4,744 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.36, for a total value of $219,931.84. Following the transaction, the insider directly owned 97,141 shares of the company's stock, valued at approximately $4,503,456.76. This trade represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 183,471 shares of company stock valued at $8,930,068. Corporate insiders own 10.05% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RBLX. JPMorgan Chase & Co. decreased their price target on Roblox from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, February 6th. Needham & Company LLC started coverage on shares of Roblox in a report on Friday, May 1st. They set a "buy" rating and a $60.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Roblox from $97.00 to $78.00 and set an "overweight" rating for the company in a research report on Monday, April 6th. Piper Sandler lowered shares of Roblox from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $100.00 to $50.00 in a research note on Monday, May 4th. Finally, UBS Group cut their target price on Roblox from $74.00 to $49.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Roblox has an average rating of "Hold" and an average price target of $87.07.

Roblox Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company's building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox's business model is built around its virtual economy and creator ecosystem.

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