Bangor Savings Bank Makes New $818,000 Investment in Roblox Corporation $RBLX

Bangor Savings Bank purchased a new position in shares of Roblox Corporation (NYSE:RBLX) in the 3rd quarter, Holdings Channel reports. The firm purchased 19,306 shares of the company’s stock, valued at approximately $818,000.

A number of other institutional investors also recently made changes to their positions in the stock. LM Advisors LLC purchased a new stake in shares of Roblox in the fourth quarter valued at $35,000. Hanson & Doremus Investment Management purchased a new stake in Roblox during the 1st quarter worth about $25,000. Basecamp Wealth Advisors LLC increased its position in Roblox by 98.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock worth $29,000 after purchasing an additional 252 shares in the last quarter. Root Financial Partners LLC increased its position in Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock worth $32,000 after purchasing an additional 283 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in Roblox in the 1st quarter valued at about $33,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 52,568 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $1,995,481.28. Following the completion of the sale, the chief executive officer directly owned 799,646 shares in the company, valued at approximately $30,354,562.16. The trade was a 6.17% 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 the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Buckley sold 4,321 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $38.68, for a total transaction of $167,136.28. Following the transaction, the insider directly owned 87,213 shares of the company’s stock, valued at $3,373,398.84. This trade represents a 4.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 186,390 shares of company stock valued at $7,283,371. 10.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wedbush upped their target price on shares of Roblox from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Barclays lowered their price target on shares of Roblox from $60.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, August 3rd. TD Cowen reduced their price objective on shares of Roblox from $49.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, July 31st. Oppenheimer restated an “outperform” rating on shares of Roblox in a research report on Friday, September 11th. Finally, DA Davidson set a $40.00 target price on shares of Roblox in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Roblox currently has a consensus rating of “Hold” and an average target price of $60.79.

Roblox Trading Up 2.5%

NYSE:RBLX traded up $1.10 during mid-day trading on Tuesday, reaching $45.68. The company’s stock had a trading volume of 10,815,152 shares, compared to its average volume of 11,855,800. The company’s fifty day simple moving average is $42.26 and its two-hundred day simple moving average is $48.18. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $141.95. The stock has a market cap of $30.60 billion, a P/E ratio of -31.94 and a beta of 1.47.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business earned ($0.41) EPS. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts predict that Roblox Corporation will post -1.39 EPS for the current year.

Roblox Company Profile

Roblox Corporation (NYSE:RBLX) operates an online entertainment platform where users can create, share and experience interactive 3D content. The platform hosts user-generated games and other virtual experiences across genres, including entertainment, social activities, education and simulated environments.

Roblox provides development tools through Roblox Studio, enabling creators to build and publish experiences, digital items and other content. Users can customize avatars, interact with others and access the platform across supported computers, mobile devices, gaming consoles and virtual reality systems.