Whittier Trust Co. Sells 14,203 Shares of Roblox Corporation $RBLX

Whittier Trust Co. lowered its position in Roblox Corporation (NYSE:RBLX) by 18.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 62,593 shares of the company’s stock after selling 14,203 shares during the period. Whittier Trust Co.’s holdings in Roblox were worth $8,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RBLX. Total Investment Management Inc. purchased a new position in shares of Roblox during the second quarter worth about $29,000. ORG Partners LLC bought a new stake in shares of Roblox during the 2nd quarter worth $33,000. Whipplewood Advisors LLC purchased a new position in Roblox in the second quarter worth $34,000. Root Financial Partners LLC purchased a new stake in Roblox during the third quarter valued at about $38,000. Finally, Generali Asset Management SPA SGR purchased a new position in shares of Roblox during the 2nd quarter valued at about $40,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on RBLX shares. B. Riley started coverage on shares of Roblox in a research note on Tuesday, December 9th. They set a “buy” rating and a $125.00 price target on the stock. Piper Sandler set a $130.00 price target on shares of Roblox in a research report on Friday, October 31st. Wolfe Research set a $100.00 price objective on Roblox in a report on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lowered shares of Roblox from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $145.00 to $100.00 in a report on Friday, December 12th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $135.23.

Roblox Stock Down 0.7%

RBLX stock opened at $74.18 on Monday. The company has a market capitalization of $48.58 billion, a price-to-earnings ratio of -51.87 and a beta of 1.64. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50 day moving average price is $86.35 and its two-hundred day moving average price is $111.09. Roblox Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.07. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company posted ($0.37) earnings per share. The firm’s revenue was up 70.3% on a year-over-year basis. As a group, analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 2,642 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $95.24, for a total transaction of $251,624.08. Following the completion of the sale, the chief accounting officer directly owned 46,452 shares in the company, valued at approximately $4,424,088.48. This trade represents a 5.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 66,896 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $76.48, for a total transaction of $5,116,206.08. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 504,300 shares of company stock worth $46,290,436 over the last three months. Corporate insiders own 12.92% of the company’s stock.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.