Sanders Morris Harris LLC Acquires Shares of 9,469 Roblox Corporation $RBLX

Sanders Morris Harris LLC acquired a new stake in Roblox Corporation (NYSE:RBLX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,469 shares of the company’s stock, valued at approximately $1,312,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Oak Thistle LLC acquired a new stake in Roblox in the 3rd quarter valued at $1,979,000. Nilsine Partners LLC bought a new position in shares of Roblox during the third quarter valued at $209,000. Aaron Wealth Advisors LLC boosted its stake in shares of Roblox by 107.7% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 4,725 shares of the company’s stock valued at $655,000 after purchasing an additional 2,450 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Roblox by 10.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,955 shares of the company’s stock worth $409,000 after purchasing an additional 268 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Roblox by 14.4% during the 2nd quarter. Corient Private Wealth LLC now owns 13,098 shares of the company’s stock worth $1,378,000 after purchasing an additional 1,652 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Insiders Place Their Bets

In related news, insider Arvind Chakravarthy sold 20,912 shares of Roblox stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $95.23, for a total value of $1,991,449.76. Following the completion of the sale, the insider directly owned 181,043 shares in the company, valued at $17,240,724.89. This trade represents a 10.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Naveen K. Chopra sold 19,424 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the transaction, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 382,508 shares of company stock valued at $40,838,541 over the last 90 days. Corporate insiders own 12.92% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Roblox from $155.00 to $141.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Morgan Stanley reiterated an “overweight” rating on shares of Roblox in a research note on Thursday, December 11th. BMO Capital Markets increased their price target on Roblox from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Macquarie raised their price target on Roblox from $158.00 to $164.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Benchmark reissued a “hold” rating on shares of Roblox in a research note on Friday, October 31st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.88.

Roblox Stock Performance

RBLX stock opened at $87.44 on Wednesday. The company has a 50 day moving average price of $108.49 and a 200 day moving average price of $114.94. Roblox Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $57.26 billion, a PE ratio of -61.15 and a beta of 1.62.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.07. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.64 billion. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The business’s quarterly revenue was up 70.3% compared to the same quarter last year. During the same period last year, the company earned ($0.37) EPS. Analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

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.