Kore Private Wealth LLC lifted its holdings in shares of Roblox Co. (NYSE:RBLX) by 26.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,257 shares of the company’s stock after acquiring an additional 1,090 shares during the period. Kore Private Wealth LLC’s holdings in Roblox were worth $473,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Montag A & Associates Inc. acquired a new position in Roblox in the second quarter valued at $31,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Roblox during the second quarter worth about $32,000. Hudock Inc. purchased a new stake in shares of Roblox during the second quarter worth about $35,000. Concord Wealth Partners purchased a new stake in shares of Roblox during the first quarter worth about $36,000. Finally, Evolution Wealth Advisors LLC bought a new stake in Roblox in the second quarter valued at about $39,000. Hedge funds and other institutional investors own 41.40% of the company’s stock.
In other Roblox news, CEO David Baszucki sold 375,000 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $81.66, for a total value of $30,622,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 40,000 shares of the stock in a transaction on Tuesday, October 5th. The stock was sold at an average price of $74.26, for a total transaction of $2,970,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 599,220 shares of company stock worth $49,446,401.
Roblox (NYSE:RBLX) last announced its quarterly earnings data on Sunday, August 15th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.49). The business had revenue of $454.10 million for the quarter, compared to analysts’ expectations of $689.21 million. The company’s revenue was up 126.6% compared to the same quarter last year. As a group, equities analysts anticipate that Roblox Co. will post -0.91 EPS for the current fiscal year.
RBLX has been the subject of a number of research reports. Benchmark decreased their target price on Roblox from $75.00 to $70.00 and set a “sell” rating for the company in a research note on Tuesday, August 17th. Citigroup began coverage on Roblox in a research report on Wednesday, June 30th. They issued an “overweight” rating for the company. Jefferies Financial Group cut their target price on Roblox from $92.00 to $86.00 and set a “hold” rating for the company in a research report on Monday, September 20th. Morgan Stanley upped their price target on Roblox from $87.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, August 18th. Finally, began coverage on shares of Roblox in a research note on Wednesday, June 30th. They set an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Roblox presently has a consensus rating of “Buy” and a consensus price target of $84.40.
Roblox Corporation develops and operates an online entertainment platform. It offers Roblox Client, an application that allows users to explore 3D digital worlds; and Roblox Studio, a toolset that allows developers and creators to build, publish, and operate 3D experiences and other content. The company also provides Roblox Cloud, a solution that provides services and infrastructure to power the human co-experience platform.
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