Odyssean LLC Purchases 31,029 Shares of Roblox Corporation $RBLX

Odyssean LLC boosted its holdings in Roblox Corporation (NYSE:RBLX) by 344.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 40,038 shares of the company’s stock after acquiring an additional 31,029 shares during the period. Odyssean LLC’s holdings in Roblox were worth $2,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. NewEdge Advisors LLC increased its holdings in Roblox by 2.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock valued at $597,000 after buying an additional 231 shares during the period. Sivia Capital Partners LLC grew its position in Roblox by 70.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock worth $1,368,000 after acquiring an additional 5,363 shares during the last quarter. CW Advisors LLC bought a new stake in shares of Roblox during the second quarter worth about $272,000. Baird Financial Group Inc. grew its holdings in Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after acquiring an additional 102 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Roblox in the 2nd quarter valued at approximately $438,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Roblox news, insider Mark Reinstra sold 17,934 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $680,774.64. Following the transaction, the insider directly owned 398,064 shares in the company, valued at $15,110,509.44. This represents a 4.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen K. Chopra sold 17,509 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $664,641.64. Following the transaction, the chief financial officer directly owned 363,249 shares of the company’s stock, valued at $13,788,932.04. The trade was a 4.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 185,441 shares of company stock valued at $7,529,354. 10.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on RBLX. Arete Research set a $95.00 price objective on shares of Roblox and gave the stock a “buy” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a research report on Wednesday, June 24th. BMO Capital Markets lowered Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 price target on the stock. in a report on Friday, July 31st. Morgan Stanley reduced their price objective on shares of Roblox from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Roblox presently has an average rating of “Hold” and a consensus price target of $60.89.

Roblox Stock Up 4.1%

Shares of NYSE RBLX opened at $43.21 on Friday. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $28.95 billion, a PE ratio of -30.22 and a beta of 1.47. Roblox Corporation has a one year low of $33.88 and a one year high of $142.00. The business’s fifty day moving average price is $45.46 and its 200-day moving average price is $50.83.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company earned ($0.41) earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Roblox Corporation will post -1.39 EPS for the current year.

Roblox announced that its Board of Directors has authorized a share buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Roblox Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.