Roblox Corporation $RBLX Stock Holdings Cut by SOL Capital Management CO

SOL Capital Management CO lessened its position in Roblox Corporation (NYSE:RBLX) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,897 shares of the company’s stock after selling 6,355 shares during the period. Roblox makes up 0.9% of SOL Capital Management CO’s holdings, making the stock its 29th largest position. SOL Capital Management CO’s holdings in Roblox were worth $10,098,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RBLX. Total Investment Management Inc. bought a new stake in Roblox in the second quarter worth about $29,000. ORG Partners LLC bought a new stake in shares of Roblox in the 2nd quarter worth approximately $33,000. Whipplewood Advisors LLC acquired a new stake in Roblox during the second quarter valued at approximately $34,000. Generali Asset Management SPA SGR bought a new stake in Roblox during the second quarter worth approximately $40,000. Finally, Salomon & Ludwin LLC acquired a new position in Roblox in the third quarter worth approximately $41,000. Institutional investors own 94.46% of the company’s stock.

Roblox Trading Up 3.1%

Shares of RBLX stock opened at $87.27 on Friday. The company has a market capitalization of $57.15 billion, a PE ratio of -61.03 and a beta of 1.64. The firm has a 50 day moving average price of $88.90 and a two-hundred day moving average price of $111.90. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.54. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.07. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company earned ($0.37) EPS. The business’s revenue was up 70.3% on a year-over-year basis. As a group, analysts predict that Roblox Corporation will post -1.49 earnings per share for the current year.

Insider Activity

In other news, CFO Naveen K. Chopra sold 19,424 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the sale, the chief financial officer directly owned 337,036 shares in the company, valued at approximately $32,095,938.28. The trade was a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Reinstra sold 16,782 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $95.24, for a total transaction of $1,598,317.68. Following the completion of the transaction, the insider owned 370,532 shares of the company’s stock, valued at approximately $35,289,467.68. This trade represents a 4.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 504,300 shares of company stock valued at $46,290,436. 12.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RBLX. Canaccord Genuity Group set a $160.00 price objective on Roblox in a research report on Thursday, October 30th. Barclays upped their target price on Roblox from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Friday, October 31st. Piper Sandler set a $130.00 price objective on Roblox in a report on Friday, October 31st. UBS Group set a $155.00 target price on shares of Roblox in a report on Tuesday. Finally, Benchmark reissued a “hold” rating on shares of Roblox in a research report on Friday, October 31st. Seventeen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $133.65.

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.