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Belpointe Asset Management LLC Takes $239,000 Position in Roblox Co. (NYSE:RBLX)


Belpointe Asset Management LLC increased its holdings of Roblox Co. (NYSE:RBLX – Get Rating) stock by 144.9% in the first quarter, reports Holdings Channel.com. The fund owned 5,189 shares of the company after purchasing an additional 3,070 shares during the period. Belpointe Asset Management LLC’s holdings in Roblox were worth $239,000 at the end of the last reporting period.

Other institutional investors have also changed their positions in the company. North Star Investment Management Corp. acquired a new stake in Roblox stock valued at approximately $33,000 in Q4. Gordian Capital Singapore Pte Ltd acquired a new position in Roblox valued at approximately $34,000 in the fourth quarter. Cornerstone Advisory LLC acquired a new position in Roblox worth approximately $34,000 during the fourth quarter. Parkside Financial Bank & Trust increased its position in Roblox by 1,882.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 337 shares of the company, valued at $35,000, after purchasing an additional 320 shares last quarter. Finally, in the fourth quarter, HM Payson & Co. acquired a new position in Roblox worth about $40,000. 68.00% of the shares are currently owned by institutional investors and hedge funds.

Insider Activity

In addition, Chief Financial Officer Michael Guthrie sold 7,882 shares of the company’s stock in a transaction that took place on Monday, May 23. The shares sold at an average price of $30.34 for a total value of $239,139.88. Upon completion of the transaction, the Chief Financial Officer now owns 208,343 shares of the Company, valued at $6,321,126.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this link. In addition, Chief Financial Officer Michael Guthrie sold 7,882 shares of the company’s stock in a transaction that took place on Monday, May 23. The shares sold at an average price of $30.34 for a total value of $239,139.88. Upon completion of the transaction, the Chief Financial Officer now owns 208,343 shares of the Company, valued at $6,321,126.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this link. Also on Monday, May 23, insider Manuel Bronstein sold 32,695 shares of the stock in one transaction. The stock sold at an average price of $30.34 for a total transaction of $991,966.30. Following the transaction, the insider now owns 839,977 shares of the company’s stock valued at approximately $25,484,902.18. The disclosure for this sale can be found here. Company insiders own 28.22% of the company’s shares.

Changes in analyst ratings

RBLX has been the subject of a number of recent analyst reports. BTIG Research lowered its target price on Roblox shares to $57.00 from $61.00 and gave the stock a “buy” rating in a research report on Tuesday, July 12. Daiwa Capital Markets lowered its price target on Roblox shares to $38.00 from $56.00 in a research report on Tuesday, May 17. Bank of America raised its price target for Roblox shares to $45.00 from $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 14. Needham & Company LLC increased its price target on Roblox shares to $45.00 from $40.00 and gave the stock a “buy” rating in a research note on Thursday, July. Finally, on Wednesday, June 15, Benchmark lowered its price target on Roblox shares from $45.00 to $21.00 in a research note. Two research analysts have rated the stock with a sell rating, seven with a hold rating and seven with a buy rating. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $41.25.

Roblox stock up 2.3%

NYSE RBLX shares opened at $40.76 on Thursday. The stock has a market cap of $22.09 billion, a P/E of -45.29 and a beta of 1.49. The company has a 50-day moving average price of $32.99 and a 200-day moving average price of $46.13. The company has a debt to equity ratio of 1.74, a quick ratio of 1.73 and a current ratio of 1.73. Roblox Co. has a 52-week low of $21.65 and a 52-week high of $141.60.

Roblox (NYSE:RBLX – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported earnings per share (EPS) of ($0.27) for the quarter, missing analyst consensus estimates of ($0.21) by ($0.06). The company had revenue of $631.21 million for the quarter, compared to analyst estimates of $649.48 million. Roblox had a negative net margin of 25.01% and a negative return on equity of 89.70%. The company’s revenue for the quarter declined 3.2% compared to the same quarter last year. In the same quarter last year, the company posted ($0.46) EPS. Analysts expect Roblox Co. to post -1.04 EPS for the year to date.

Roblox Company Profile

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Roblox Corporation develops and operates an online entertainment platform. The Company 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 the 3D digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human interaction platform.

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Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Roblox Co. (NYSE:RBLX – Get Rating).

Institutional Ownership by Quarter for Roblox (NYSE:RBLX)



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