Prosperity Wealth Management Inc. Invests $371,000 in Roblox Co. (NYSE:RBLX)

Prosperity Wealth Management Inc. bought a new position in shares of Roblox Co. (NYSE:RBLX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,404 shares of the company’s stock, valued at approximately $371,000.

A number of other large investors have also modified their holdings of RBLX. Janney Montgomery Scott LLC grew its holdings in shares of Roblox by 94.4% during the third quarter. Janney Montgomery Scott LLC now owns 18,404 shares of the company’s stock worth $815,000 after buying an additional 8,939 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Roblox by 308.2% during the 3rd quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock valued at $8,047,000 after acquiring an additional 137,267 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Roblox by 6.6% during the 3rd quarter. Sigma Planning Corp now owns 6,822 shares of the company’s stock valued at $302,000 after acquiring an additional 420 shares during the last quarter. Versor Investments LP acquired a new position in shares of Roblox during the 3rd quarter valued at about $257,000. Finally, Entropy Technologies LP boosted its position in shares of Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock valued at $4,410,000 after acquiring an additional 62,521 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Stock Performance

Shares of Roblox stock opened at $54.54 on Wednesday. The firm has a market capitalization of $33.76 billion, a P/E ratio of -37.61 and a beta of 1.49. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The firm’s 50 day moving average is $64.07 and its two-hundred day moving average is $54.21.

Roblox (NYSE:RBLX) last announced its quarterly earnings results 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 net margin of 25.97% and a negative return on equity of 665.98%. Research analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, CFO Michael Guthrie sold 26,154 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the completion of the sale, the chief financial officer now directly owns 417,079 shares of the company’s stock, valued at $27,502,189.26. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Reinstra sold 24,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $59.75, for a total value of $1,434,000.00. Following the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 916,367 shares of company stock worth $59,700,949. Insiders own 22.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. CICC Research assumed coverage on shares of Roblox in a research report on Tuesday, January 14th. They set an “outperform” rating on the stock. HSBC began coverage on shares of Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price target on the stock. Citigroup upped their target price on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Roth Mkm upped their target price on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. One 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.19.

Roblox 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.