QRG Capital Management Inc. Sells 6,169 Shares of Roblox Co. (NYSE:RBLX)

QRG Capital Management Inc. reduced its holdings in shares of Roblox Co. (NYSE:RBLX) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,221 shares of the company’s stock after selling 6,169 shares during the period. QRG Capital Management Inc.’s holdings in Roblox were worth $1,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC lifted its stake in Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. Versant Capital Management Inc raised its holdings in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares in the last quarter. Huntington National Bank lifted its position in shares of Roblox by 277.0% during the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares during the period. True Wealth Design LLC boosted its stake in Roblox by 33,875.0% in the 3rd quarter. True Wealth Design LLC now owns 1,359 shares of the company’s stock valued at $60,000 after buying an additional 1,355 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Roblox by 29.2% in the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $69,000 after acquiring an additional 271 shares during the period. Institutional investors own 94.46% of the company’s stock.

Insider Buying and Selling at Roblox

In related news, insider Manuel Bronstein sold 44,888 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the sale, the insider now owns 573,266 shares in the company, valued at approximately $34,401,692.66. This represents a 7.26 % 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, CFO Michael Guthrie sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $55.92, for a total value of $5,592,000.00. Following the sale, the chief financial officer now owns 331,187 shares in the company, valued at approximately $18,519,977.04. This represents a 23.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,136,535 shares of company stock valued at $70,589,814. 22.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Roth Mkm lifted their price objective on Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their target price on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Wedbush restated an “outperform” rating and issued a $83.00 price target on shares of Roblox in a research report on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 price objective (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. Finally, Moffett Nathanson cut shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 target price for the company. in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus target price of $64.19.

Roblox Trading Down 2.3 %

NYSE:RBLX opened at $62.15 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74. The firm has a market capitalization of $38.47 billion, a price-to-earnings ratio of -42.86 and a beta of 1.46. The business’s 50-day moving average price is $64.17 and its two-hundred day moving average price is $53.53.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, equities analysts expect that Roblox Co. will post -1.49 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.