Raymond James Financial Inc. Makes New Investment in Roblox Co. (NYSE:RBLX)

Raymond James Financial Inc. acquired a new stake in shares of Roblox Co. (NYSE:RBLX) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 418,545 shares of the company’s stock, valued at approximately $24,217,000. Raymond James Financial Inc. owned 0.07% of Roblox as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. grew its stake in shares of Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares during the last quarter. Simon Quick Advisors LLC lifted its stake in shares of Roblox by 4.6% in the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after buying an additional 217 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares in the last quarter. Versant Capital Management Inc raised its position in 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 during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Roblox by 3.8% in the fourth quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock worth $386,000 after purchasing an additional 245 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RBLX. CICC Research initiated coverage on Roblox in a research report on Tuesday, January 14th. They issued an “outperform” rating for the company. Citigroup upped their price target on Roblox from $63.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wedbush reiterated an “outperform” rating and set a $83.00 price objective on shares of Roblox in a research report on Friday, February 7th. Oppenheimer raised shares of Roblox from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Thursday, April 10th. Finally, Moffett Nathanson downgraded shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective for the company. in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Insider Activity

In other news, insider Arvind Chakravarthy sold 982 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $61.26, for a total value of $60,157.32. Following the completion of the sale, the insider now owns 204,261 shares of the company’s stock, valued at approximately $12,513,028.86. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Baszucki sold 229,167 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the sale, the chief executive officer now owns 221,983 shares in the company, valued at approximately $11,649,667.84. This trade represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 926,954 shares of company stock worth $56,936,331. 22.15% of the stock is currently owned by company insiders.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $59.76 on Friday. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The business has a 50-day moving average of $59.28 and a two-hundred day moving average of $56.68. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market capitalization of $37.56 billion, a PE ratio of -41.22 and a beta of 1.49.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. As a group, research analysts forecast 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.