Okabena Investment Services Inc. Invests $938,000 in Roblox Co. (NYSE:RBLX)

Okabena Investment Services Inc. purchased a new position in shares of Roblox Co. (NYSE:RBLX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,208 shares of the company’s stock, valued at approximately $938,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in shares of Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after buying an additional 230 shares during the period. Rakuten Securities Inc. lifted its position in shares of Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after buying an additional 195 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Roblox by 188.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock valued at $56,000 after acquiring an additional 633 shares during the period. Finally, True Wealth Design LLC lifted its holdings in Roblox by 33,875.0% during the third quarter. True Wealth Design LLC now owns 1,359 shares of the company’s stock valued at $60,000 after purchasing an additional 1,355 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

Shares of RBLX opened at $58.99 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a market cap of $36.51 billion, a P/E ratio of -40.68 and a beta of 1.49. The firm’s 50 day moving average price is $63.22 and its 200 day moving average price is $55.41.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 34,099 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the sale, the chief executive officer now owns 221,983 shares of the company’s stock, valued at approximately $12,664,130.15. This trade represents a 13.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arvind Chakravarthy sold 982 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $61.26, for a total transaction of $60,157.32. Following the completion of the transaction, the insider now owns 204,261 shares of the company’s stock, valued at approximately $12,513,028.86. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 926,466 shares of company stock valued at $60,212,297. Insiders own 22.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RBLX shares. Wedbush reissued an “outperform” rating and set a $83.00 target price on shares of Roblox in a research note on Friday, February 7th. Piper Sandler restated an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Barclays reduced their price objective on Roblox from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. CICC Research assumed coverage on shares of Roblox in a research note on Tuesday, January 14th. They set an “outperform” rating on the stock. Finally, OTR Global upgraded shares of Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.23.

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.