Ieq Capital LLC Has $444.64 Million Stock Position in Roblox Co. (NYSE:RBLX)

Ieq Capital LLC increased its holdings in shares of Roblox Co. (NYSE:RBLX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,725,211 shares of the company's stock after purchasing an additional 573,463 shares during the quarter. Roblox accounts for 7.4% of Ieq Capital LLC's portfolio, making the stock its biggest holding. Ieq Capital LLC owned about 1.70% of Roblox worth $444,637,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Roblox during the 4th quarter valued at $25,000. Blue Trust Inc. lifted its holdings in Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company's stock valued at $49,000 after acquiring an additional 912 shares during the period. Allworth Financial LP boosted its position in Roblox by 90.2% in the fourth quarter. Allworth Financial LP now owns 1,238 shares of the company's stock worth $57,000 after purchasing an additional 587 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Roblox during the 4th quarter valued at about $58,000. Finally, Principal Securities Inc. purchased a new stake in shares of Roblox during the 4th quarter valued at about $59,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michael Guthrie sold 10,972 shares of the company's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $445,902.08. Following the transaction, the chief financial officer now directly owns 233,629 shares of the company's stock, valued at $9,494,682.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Mark Reinstra sold 12,531 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.75, for a total transaction of $510,638.25. Following the sale, the insider now directly owns 249,779 shares of the company's stock, valued at $10,178,494.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 10,972 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $445,902.08. Following the completion of the transaction, the chief financial officer now directly owns 233,629 shares of the company's stock, valued at $9,494,682.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 312,374 shares of company stock worth $11,991,338. 22.15% of the stock is currently owned by corporate insiders.

Roblox Price Performance

Shares of NYSE RBLX traded down $0.48 during mid-day trading on Monday, hitting $30.97. 12,395,199 shares of the company's stock traded hands, compared to its average volume of 8,293,194. The company has a market capitalization of $18.31 billion, a P/E ratio of -16.65 and a beta of 1.63. Roblox Co. has a 1 year low of $24.88 and a 1 year high of $47.20. The company has a debt-to-equity ratio of 16.04, a current ratio of 1.07 and a quick ratio of 1.07. The company's 50-day moving average is $37.62 and its two-hundred day moving average is $39.50.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.10. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The business had revenue of $923.76 million during the quarter, compared to analysts' expectations of $918.85 million. During the same period in the prior year, the business earned ($0.44) EPS. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities analysts anticipate that Roblox Co. will post -2.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RBLX. The Goldman Sachs Group reduced their target price on shares of Roblox from $48.00 to $38.00 and set a "neutral" rating for the company in a report on Monday. JPMorgan Chase & Co. upgraded Roblox from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $41.00 to $48.00 in a research report on Tuesday, April 23rd. BTIG Research lowered their price objective on Roblox from $54.00 to $46.00 and set a "buy" rating on the stock in a research report on Friday. Stifel Nicolaus reissued a "buy" rating and issued a $53.00 target price on shares of Roblox in a report on Monday, April 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Roblox from $50.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday. Five research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $42.71.

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.

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