Thrive Wealth Management LLC acquired 7,877 shares of Roblox Co. stock during the second quarter, according to the company’s latest 13F filing with the SEC. The value of the position was estimated at approximately $317,000. Other hedge funds and institutional investors have also made modifications to their holdings of the company.
BlackRock Inc. raised its holdings in Roblox by 11% in the first quarter, acquiring an additional 2,219,142 shares. Vanguard Group Inc. also increased its holdings by 39.4% during the first quarter, adding 4,546,253 shares. FMR LLC raised its holdings by 7.9% during the same period, acquiring an additional 1,178,135 shares. ARK Investment Management LLC purchased 292,068 shares during the second quarter, increasing its holdings by 3.2%. State Street Corp grew its position in Roblox by 23.3% in the third quarter, acquiring an additional 1,535,510 shares.
The stock of Roblox has recently been analyzed by several research analysts. Citigroup reduced their price target on the stock from $53.00 to $51.00, while DA Davidson lowered it from $55.00 to $45.00. Benchmark set a price target of $35.00, and Wedbush raised their rating from neutral to outperform with a price target of $37.00. Deutsche Bank Aktiengesellschaft decreased their price target to $45.00.
Insider trading activity within Roblox has also been observed recently. CAO Amy Marie Rawlings sold 3,089 shares of the company’s stock, while Director Gregory Baszucki sold 8,333 shares. In the past 90 days, insiders have sold a total of 973,542 shares of Roblox stock.
Roblox Corporation is an online entertainment platform that offers Roblox Studio, a toolset for developers and creators to build and operate 3D experiences. The company’s revenue for the second quarter was $780.69 million, compared to the consensus estimate of $784.99 million. Roblox had a negative net margin of 46.81% and a negative return on equity of 399.93%. Analysts expect the company to post EPS of -1.91 for the current year.
Sources: SEC, MarketBeat