Three Bridge Wealth Advisors LLC Sells 28,106 Shares of Roblox Corporation $RBLX

Three Bridge Wealth Advisors LLC lessened its stake in shares of Roblox Corporation (NYSE:RBLX) by 22.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 98,184 shares of the company’s stock after selling 28,106 shares during the period. Roblox makes up approximately 2.1% of Three Bridge Wealth Advisors LLC’s portfolio, making the stock its 15th biggest position. Three Bridge Wealth Advisors LLC’s holdings in Roblox were worth $7,956,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Reyes Financial Architecture Inc. raised its position in shares of Roblox by 164.4% in the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 194 shares in the last quarter. Fideuram Asset Management Ireland dac bought a new stake in Roblox in the 4th quarter worth approximately $27,000. Indiana Trust & Investment Management Co bought a new position in shares of Roblox in the fourth quarter worth approximately $32,000. Garner Asset Management Corp bought a new position in Roblox in the fourth quarter worth $37,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Roblox by 58.7% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after purchasing an additional 105 shares during the last quarter. 94.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Matthew D. Kaufman sold 14,356 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total transaction of $649,896.12. Following the transaction, the insider owned 349,964 shares in the company, valued at $15,842,870.28. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen K. Chopra sold 16,863 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $763,556.64. Following the sale, the chief financial officer owned 380,758 shares of the company’s stock, valued at $17,240,722.24. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 183,471 shares of company stock valued at $8,930,068. 10.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RBLX has been the subject of several research analyst reports. Benchmark reaffirmed a “hold” rating on shares of Roblox in a report on Monday, February 2nd. Wells Fargo & Company dropped their price objective on shares of Roblox from $97.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Piper Sandler lowered Roblox from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $100.00 to $50.00 in a report on Monday, May 4th. TD Cowen upgraded Roblox from a “sell” rating to a “hold” rating and cut their price objective for the company from $54.00 to $49.00 in a report on Friday, May 1st. Finally, UBS Group dropped their target price on shares of Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.07.

Roblox Stock Performance

Shares of RBLX stock opened at $47.02 on Tuesday. Roblox Corporation has a 12 month low of $40.15 and a 12 month high of $150.59. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $31.58 billion, a P/E ratio of -29.76 and a beta of 1.44. The company’s fifty day moving average price is $52.27 and its two-hundred day moving average price is $68.85.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned ($0.32) EPS. The company’s revenue was up 43.4% on a year-over-year basis. On average, research analysts anticipate that Roblox Corporation will post -1.4 earnings per share for the current fiscal year.

Roblox declared that its Board of Directors has initiated a share buyback program on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 9.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Roblox

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.