Brighton Jones LLC Buys 11,416 Shares of Roblox Corporation $RBLX

Brighton Jones LLC boosted its stake in Roblox Corporation (NYSE:RBLX) by 14.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 88,860 shares of the company’s stock after acquiring an additional 11,416 shares during the quarter. Brighton Jones LLC’s holdings in Roblox were worth $3,765,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RBLX. Ethic Inc. lifted its stake in Roblox by 1.3% in the 3rd quarter. Ethic Inc. now owns 28,720 shares of the company’s stock valued at $1,217,000 after acquiring an additional 365 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Roblox by 4.7% in the 3rd quarter. Parallel Advisors LLC now owns 33,759 shares of the company’s stock valued at $1,430,000 after acquiring an additional 1,505 shares during the period. Heritage Family Offices LLP bought a new stake in shares of Roblox in the 3rd quarter valued at about $27,000. Allegiance Financial Group Advisory Services LLC grew its holdings in Roblox by 29.4% during the third quarter. Allegiance Financial Group Advisory Services LLC now owns 15,963 shares of the company’s stock worth $676,000 after purchasing an additional 3,627 shares during the period. Finally, Alta Advisers Ltd bought a new stake in Roblox in the third quarter valued at approximately $216,000. 94.46% of the stock is owned by institutional investors.

Insider Activity at Roblox

In related news, insider Mark Reinstra sold 5,666 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $44.20, for a total value of $250,437.20. Following the transaction, the insider owned 386,625 shares in the company, valued at approximately $17,088,825. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Naveen Chopra sold 17,509 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $664,641.64. Following the completion of the transaction, the chief financial officer directly owned 363,249 shares of the company’s stock, valued at approximately $13,788,932.04. This trade represents a 4.60% decrease in their position. 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. Insiders sold a total of 169,724 shares of company stock worth $6,659,063 in the last quarter. 10.05% of the stock is currently owned by corporate insiders.

Roblox Trading Down 0.1%

Shares of NYSE:RBLX opened at $49.24 on Monday. The business’s 50 day simple moving average is $47.19 and its 200 day simple moving average is $51.77. Roblox Corporation has a 1 year low of $33.88 and a 1 year high of $108.29. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $33.06 billion, a P/E ratio of -35.68 and a beta of 1.45.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 29th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.11. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Roblox had a negative return on equity of 417.56% and a negative net margin of 16.48%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.37) EPS. On average, research analysts anticipate that Roblox Corporation will post -1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Roblox in a research note on Friday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $47.00 price target (down from $50.00) on shares of Roblox in a report on Friday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Roblox from $53.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Oppenheimer restated an “outperform” rating and set a $50.00 target price (down from $82.00) on shares of Roblox in a research note on Friday, September 11th. Finally, Wall Street Zen raised shares of Roblox from a “sell” rating to a “hold” rating in a report on Sunday, October 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.04.

About Roblox

Roblox Corporation operates an online platform where users can create, share and play interactive 3D experiences. The company provides Roblox Studio, a set of tools that creators use to build games and other virtual spaces, as well as services for users to connect and communicate within those experiences.

Roblox supports a creator economy through Robux, its virtual currency, which users can use for digital items and purchases in experiences. Eligible creators can earn revenue from their work through purchases and other platform programs.

Founded in 2004 by David Baszucki and Erik Cassel, Roblox launched its platform in 2006.