Evergreen Capital Management LLC Sells 6,926 Shares of Roblox Co. (NYSE:RBLX)

Evergreen Capital Management LLC reduced its position in shares of Roblox Co. (NYSE:RBLX) by 19.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,461 shares of the company’s stock after selling 6,926 shares during the quarter. Evergreen Capital Management LLC’s holdings in Roblox were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company’s stock valued at $2,294,642,000 after acquiring an additional 18,715,837 shares during the last quarter. Wealthfront Advisers LLC raised its position in Roblox by 74,400.8% during the 4th 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. Arrowstreet Capital Limited Partnership lifted its holdings in Roblox by 1,084.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock worth $278,500,000 after buying an additional 4,406,885 shares during the period. Ieq Capital LLC grew its position in shares of Roblox by 26.8% in the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after buying an additional 3,507,901 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Roblox during the fourth quarter valued at approximately $167,211,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Activity at Roblox

In related news, insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $65.89, for a total value of $1,581,360.00. Following the completion of the sale, the insider now owns 281,161 shares of the company’s stock, valued at $18,525,698.29. The trade was a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 229,167 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $52.48, for a total value of $12,026,684.16. Following the completion of the transaction, the chief executive officer now directly owns 221,983 shares in the company, valued at approximately $11,649,667.84. This represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 926,954 shares of company stock valued at $56,936,331 over the last ninety days. Insiders own 22.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RBLX. Moffett Nathanson lowered Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target for the company. in a research note on Friday, February 7th. FBN Securities started coverage on shares of Roblox in a research note on Friday, March 28th. They set a “sector perform” rating and a $65.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $83.00 price target on shares of Roblox in a research note on Friday, February 7th. OTR Global raised Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC increased their target price on Roblox from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Roblox Trading Up 1.1 %

NYSE:RBLX opened at $59.76 on Friday. The stock has a market cap of $37.56 billion, a price-to-earnings ratio of -41.22 and a beta of 1.49. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company’s 50 day moving average price is $59.41 and its 200-day moving average price is $56.57. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. On average, equities research analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal 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.