Encompass More Asset Management Takes $268,000 Position in Roblox Co. (NYSE:RBLX)

Encompass More Asset Management purchased a new stake in shares of Roblox Co. (NYSE:RBLX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,058 shares of the company’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds have also modified their holdings of RBLX. FMR LLC boosted its position in Roblox by 24.5% during the third 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 during the last quarter. Dragoneer Investment Group LLC boosted its position in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Greenvale Capital LLP acquired a new stake in Roblox during the second quarter valued at $89,304,000. Marshall Wace LLP acquired a new stake in Roblox during the second quarter valued at $87,543,000. Finally, ARK Investment Management LLC boosted its position in Roblox by 12.9% during the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $49.00 price target on shares of Roblox in a research report on Friday, October 25th. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Piper Sandler boosted their price target on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price target on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $50.13 on Friday. The firm’s fifty day moving average is $46.35 and its 200-day moving average is $41.53. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $55.10.

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

Insider Transactions at Roblox

In related news, insider Manuel Bronstein sold 40,739 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $45.00, for a total value of $1,833,255.00. Following the transaction, the insider now owns 727,485 shares in the company, valued at $32,736,825. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 3,601 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $49.32, for a total transaction of $177,601.32. Following the completion of the transaction, the chief accounting officer now owns 81,407 shares in the company, valued at approximately $4,014,993.24. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,013,607 shares of company stock worth $48,434,122. Company 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.