Venturi Wealth Management LLC Makes New Investment in Roblox Corporation $RBLX

Venturi Wealth Management LLC bought a new stake in Roblox Corporation (NYSE:RBLX) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 7,516 shares of the company’s stock, valued at approximately $1,041,000.

Several other hedge funds have also recently added to or reduced their stakes in RBLX. Norges Bank acquired a new stake in Roblox during the 2nd quarter worth $350,720,000. Federated Hermes Inc. lifted its stake in shares of Roblox by 103.0% in the second quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock worth $341,410,000 after buying an additional 1,646,871 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Roblox by 47.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock worth $503,718,000 after acquiring an additional 1,531,380 shares during the last quarter. Vanguard Group Inc. grew its stake in Roblox by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock valued at $6,222,993,000 after acquiring an additional 1,513,608 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Roblox by 359.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock valued at $191,295,000 after acquiring an additional 1,422,894 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Price Performance

RBLX opened at $73.79 on Friday. The stock’s 50-day moving average price is $91.81 and its 200 day moving average price is $112.85. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The firm has a market cap of $48.32 billion, a price-to-earnings ratio of -51.60 and a beta of 1.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company earned ($0.37) earnings per share. The business’s quarterly revenue was up 70.3% on a year-over-year basis. As a group, sell-side analysts expect that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RBLX has been the topic of several recent research reports. UBS Group set a $99.00 target price on Roblox in a report on Tuesday, December 9th. Wolfe Research set a $100.00 price objective on shares of Roblox in a report on Monday. The Goldman Sachs Group upgraded shares of Roblox from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $155.00 to $180.00 in a research report on Friday, October 31st. Roth Capital reaffirmed a “neutral” rating and set a $146.00 target price on shares of Roblox in a research note on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Roblox in a research note on Monday, December 29th. Eighteen 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.65.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 2,642 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 value of $251,624.08. Following the sale, the chief accounting officer owned 46,452 shares of the company’s stock, valued at $4,424,088.48. This trade represents a 5.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Reinstra sold 16,782 shares of Roblox stock in a transaction that occurred on Thursday, November 20th. The stock was 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 $35,289,467.68. This represents a 4.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 430,404 shares of company stock worth $40,597,079 over the last quarter. 12.92% of the stock is currently owned by insiders.

Roblox Company Profile

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.