IHT Wealth Management LLC Has $635,000 Position in Roblox Co. (NYSE:RBLX)

IHT Wealth Management LLC decreased its position in shares of Roblox Co. (NYSE:RBLX - Free Report) by 37.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,978 shares of the company's stock after selling 6,637 shares during the period. IHT Wealth Management LLC's holdings in Roblox were worth $635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RBLX. Versant Capital Management Inc boosted its position in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company's stock valued at $30,000 after buying an additional 239 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Roblox by 44.5% in 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 period. Rakuten Securities Inc. raised its holdings in shares of Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after purchasing an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Roblox by 188.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock worth $56,000 after purchasing an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Roblox by 29.2% in the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company's stock worth $69,000 after buying an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark restated a "buy" rating and set a $71.00 target price on shares of Roblox in a research report on Tuesday, March 18th. OTR Global upgraded Roblox from a "mixed" rating to a "positive" rating in a report on Monday, February 3rd. FBN Securities started coverage on shares of Roblox in a research note on Friday, March 28th. They set a "sector perform" rating and a $65.00 price objective for the company. Piper Sandler reiterated an "overweight" rating and set a $72.00 target price (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Finally, Moffett Nathanson cut Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price objective on the stock. in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.50.

Insider Activity

In other news, insider Arvind Chakravarthy sold 982 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $61.26, for a total transaction of $60,157.32. Following the completion of the transaction, the insider now directly owns 204,261 shares of the company's stock, valued at approximately $12,513,028.86. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 4,468 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.34, for a total value of $274,067.12. Following the completion of the sale, the chief accounting officer now owns 75,583 shares in the company, valued at approximately $4,636,261.22. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 764,399 shares of company stock valued at $45,431,661 in the last ninety days. Company insiders own 22.15% of the company's stock.

Roblox Stock Performance

Shares of NYSE RBLX traded up $2.18 during midday trading on Thursday, reaching $69.23. 12,727,293 shares of the company were exchanged, compared to its average volume of 8,609,828. The stock has a fifty day simple moving average of $59.27 and a 200 day simple moving average of $57.95. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $75.74. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The stock has a market cap of $43.51 billion, a P/E ratio of -47.74 and a beta of 1.49.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion during 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 was up 30.6% on a year-over-year basis. During the same period last year, the company posted ($0.43) EPS. On average, research analysts forecast that Roblox Co. will post -1.49 earnings per share 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.