abrdn plc Boosts Stock Holdings in Roblox Co. (NYSE:RBLX)

abrdn plc raised its holdings in Roblox Co. (NYSE:RBLX - Free Report) by 105.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,420 shares of the company's stock after acquiring an additional 80,896 shares during the quarter. abrdn plc's holdings in Roblox were worth $7,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Institute for Wealth Management LLC. acquired a new stake in Roblox during the 4th quarter worth about $273,000. Federated Hermes Inc. acquired a new stake in Roblox during the 4th quarter worth about $9,637,000. Daiwa Securities Group Inc. raised its holdings in Roblox by 25.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 48,470 shares of the company's stock worth $2,216,000 after buying an additional 9,700 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Roblox by 35.3% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,870 shares of the company's stock worth $317,000 after buying an additional 1,792 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in Roblox during the 4th quarter worth about $58,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David Baszucki sold 200,000 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares in the company, valued at $44.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roblox news, CEO David Baszucki sold 200,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares in the company, valued at $44.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares of the company's stock, valued at $3,906,520. The disclosure for this sale can be found here. Over the last three months, insiders sold 712,374 shares of company stock valued at $29,639,338. 22.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Roblox from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $41.00 to $48.00 in a report on Tuesday. Benchmark reiterated a "buy" rating and issued a $50.00 target price on shares of Roblox in a report on Tuesday. Barclays upgraded Roblox from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $26.00 to $46.00 in a report on Thursday, February 8th. The Goldman Sachs Group upgraded Roblox from a "sell" rating to a "neutral" rating and upped their target price for the company from $35.00 to $48.00 in a report on Thursday, February 8th. Finally, Roth Mkm upped their target price on Roblox from $50.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.60.

Roblox Stock Performance

Roblox stock traded up $0.48 during trading hours on Friday, reaching $36.01. 3,746,578 shares of the company were exchanged, compared to its average volume of 6,069,188. Roblox Co. has a 12 month low of $24.88 and a 12 month high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. The firm has a market cap of $21.28 billion, a price-to-earnings ratio of -19.26 and a beta of 1.63. The stock has a 50-day moving average of $38.53 and a 200 day moving average of $39.06.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the business earned ($0.48) earnings per share. Roblox's revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, research analysts anticipate that Roblox Co. will post -2.09 earnings per share for the current year.

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.