Point72 Italy S.r.l. Reduces Position in Roblox Co. (NYSE:RBLX)

Point72 Italy S.r.l. cut its position in shares of Roblox Co. (NYSE:RBLX) by 30.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 95,417 shares of the company’s stock after selling 41,637 shares during the quarter. Roblox makes up 1.4% of Point72 Italy S.r.l.’s portfolio, making the stock its 20th largest holding. Point72 Italy S.r.l.’s holdings in Roblox were worth $4,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in shares of Roblox by 22.7% during the first quarter. Janus Henderson Group PLC now owns 49,520 shares of the company’s stock valued at $1,890,000 after acquiring an additional 9,159 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Roblox by 45.2% during the 1st quarter. Cetera Advisors LLC now owns 17,279 shares of the company’s stock worth $660,000 after purchasing an additional 5,377 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after buying an additional 1,419 shares in the last quarter. DNB Asset Management AS lifted its holdings in Roblox by 16.2% in the 2nd quarter. DNB Asset Management AS now owns 75,508 shares of the company’s stock valued at $2,810,000 after purchasing an additional 10,504 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new position in shares of Roblox during the 2nd quarter valued at about $310,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Up 2.6 %

Shares of Roblox stock opened at $53.50 on Wednesday. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of -32.62 and a beta of 1.50. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $55.10. The stock has a 50-day simple moving average of $46.49 and a 200-day simple moving average of $41.73.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) EPS. On average, equities research analysts expect that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Raymond James reissued a “strong-buy” rating and set a $60.00 target price on shares of Roblox in a research report on Friday, November 22nd. Benchmark increased their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Citigroup increased their target price on Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.30.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the transaction, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. The trade was a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,038,607 shares of company stock valued at $49,713,872. Corporate insiders own 22.15% of the company’s stock.

Roblox Company 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.