Axxcess Wealth Management LLC Reduces Holdings in Roblox Co. (NYSE:RBLX)

Axxcess Wealth Management LLC reduced its position in Roblox Co. (NYSE:RBLX) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,906 shares of the company’s stock after selling 1,570 shares during the period. Axxcess Wealth Management LLC’s holdings in Roblox were worth $747,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RBLX. Wealthfront Advisers LLC boosted its holdings in Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after purchasing an additional 17,312,325 shares during the last quarter. ValueAct Holdings L.P. raised its position in shares of Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after purchasing an additional 7,835,921 shares in the last quarter. FMR LLC raised its position in shares of Roblox by 24.5% in the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after purchasing an additional 4,115,286 shares in the last quarter. Ieq Capital LLC boosted its stake in shares of Roblox by 26.8% during the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after buying an additional 3,507,901 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Roblox during the third quarter worth approximately $107,491,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Roblox

In other Roblox news, Director Anthony P. Lee sold 250,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $65.04, for a total value of $16,260,000.00. Following the sale, the director now directly owns 6,254,137 shares in the company, valued at approximately $406,769,070.48. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 5,879 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the transaction, the chief accounting officer now owns 75,528 shares of the company’s stock, valued at approximately $4,909,320. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 950,466 shares of company stock valued at $61,646,297. Company insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on RBLX shares. Barclays reduced their price objective on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Wedbush reiterated an “outperform” rating and issued a $83.00 price target on shares of Roblox in a research note on Friday, February 7th. Moffett Nathanson cut Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective on the stock. in a research note on Friday, February 7th. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 target price on shares of Roblox in a report on Friday, November 22nd. Finally, Morgan Stanley boosted their price target on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.19.

Roblox Trading Down 0.2 %

Shares of RBLX stock opened at $57.96 on Friday. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $75.74. The firm has a market capitalization of $35.87 billion, a PE ratio of -39.97 and a beta of 1.49. The stock has a fifty day moving average of $63.55 and a two-hundred day moving average of $54.70. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, research analysts expect that Roblox Co. will post -1.49 EPS for the current year.

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.