Axxcess Wealth Management LLC Buys 1,569 Shares of Roblox Co. (NYSE:RBLX)

Axxcess Wealth Management LLC boosted its stake in shares of Roblox Co. (NYSE:RBLXGet Rating) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,451 shares of the company’s stock after purchasing an additional 1,569 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Roblox were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBLX. Highlander Capital Management LLC bought a new position in Roblox during the first quarter worth $25,000. FinTrust Capital Advisors LLC boosted its position in Roblox by 412.0% during the second quarter. FinTrust Capital Advisors LLC now owns 640 shares of the company’s stock worth $25,000 after purchasing an additional 515 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Roblox during the first quarter worth $32,000. RE Dickinson Investment Advisors LLC acquired a new stake in shares of Roblox during the first quarter worth $33,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Roblox during the second quarter worth $35,000. 69.35% of the stock is owned by institutional investors.

Insider Transactions at Roblox

In other news, CFO Michael Guthrie sold 7,769 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $30.14, for a total transaction of $234,157.66. Following the sale, the chief financial officer now directly owns 193,137 shares in the company, valued at $5,821,149.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Michael Guthrie sold 7,769 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $30.14, for a total transaction of $234,157.66. Following the sale, the chief financial officer now directly owns 193,137 shares in the company, valued at $5,821,149.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Donato sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $44.38, for a total value of $88,760.00. Following the sale, the insider now owns 1,172,941 shares in the company, valued at $52,055,121.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,457 shares of company stock worth $2,187,836. Insiders own 28.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler dropped their target price on Roblox from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, November 9th. MKM Partners dropped their target price on Roblox from $40.00 to $35.00 in a report on Friday, November 11th. Morgan Stanley lifted their target price on Roblox from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 18th. Jefferies Financial Group dropped their target price on Roblox from $43.00 to $40.00 and set a “hold” rating for the company in a report on Friday, October 14th. Finally, Barclays initiated coverage on Roblox in a research note on Tuesday, October 11th. They issued an “underweight” rating and a $20.00 price target for the company. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.96.

Roblox Stock Performance

NYSE:RBLX opened at $32.00 on Thursday. The stock has a market cap of $17.58 billion, a P/E ratio of -24.24 and a beta of 1.87. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.33. The stock’s 50-day moving average is $38.47 and its 200-day moving average is $37.57. Roblox Co. has a 1-year low of $21.65 and a 1-year high of $137.71.

Roblox Profile

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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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