M&T Bank Corp reduced its stake in Roblox Co. (NYSE:RBLX – Get Rating) by 10.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 15,857 shares of the company after selling 1,856 shares during the quarter. M&T Bank Corp’s holdings in Roblox were worth $507,000 at the time of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RBLX. Highlander Capital Management LLC purchased a new position in Roblox stock worth $25,000 during the first quarter. FinTrust Capital Advisors LLC increased its holdings in Roblox stock by 412.0% during the second quarter. FinTrust Capital Advisors LLC now owns 640 shares of the company’s stock valued at $25,000 after purchasing an additional 515 shares last quarter. 1832 Asset Management LP bought a new position in Roblox stock worth $32,000 during the first quarter. RE Dickinson Investment Advisors LLC purchased a new position in Roblox stock worth $33,000 during the first quarter. Finally, Future Financial Wealth Management LLC increased its holdings in Roblox stock by 117.6% during the first quarter. Future Financial Wealth Management LLC now owns 925 shares of the company’s stock, valued at $43,000, after purchasing an additional 500 shares last quarter. Hedge funds and other institutional investors own 69.35% of the company’s shares.

Roblox Stock Performance

NYSE:RBLX opened at $36.74 on Friday. The company has a leverage ratio of 1.79, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market cap of $20.04 billion, a price-to-earnings ratio of -27.83 and a beta of 1.87. The company’s 50-day moving average is $39.69 and the two-hundred-day moving average is $37.40. Roblox Co. has a 1-year low of $21.65 and a 1-year high of $141.60.

Insider Buying and Selling on Roblox

In other Roblox news, major shareholder Han Kim sold 50,000 shares of the company’s shares in a transaction on Monday, Aug. 15. The shares sold at an average price of $49.65 for a total value of $2,482,500.00. Following the transaction, the insider now directly owns 1,354,233 shares of the company’s stock valued at approximately $67,237,668.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC’s website. In other Roblox news, major shareholder Han Kim sold 50,000 shares of the company’s shares in a transaction on Monday, Aug. 15. The shares sold at an average price of $49.65 for a total value of $2,482,500.00. Following the transaction, the insider now directly owns 1,354,233 shares of the company’s stock valued at approximately $67,237,668.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC’s website. Also, CEO David Baszucki sold 550,000 shares of the company’s stock in a transaction that took place on Tuesday, August 23. The stock sold at an average price of $41.41 for a total transaction of $22,775,500.00. Upon completion of the transaction, the Chief Executive Officer now owns 1 share of the company, valued at $41.41. The disclosure for this sale can be found here. Insiders have sold 659,508 shares of the company’s stock valued at $27,819,688 over the past ninety days. 28.22% of the shares are owned by insiders.

Analyst upgrades and downgrades

Several research analysts have recently issued reports on RBLX stocks. MKM Partners cut its price target on Roblox shares to $35.00 from $40.00 in a report on Friday. JPMorgan Chase & Co. lowered shares of Roblox from an “overweight” rating to a “neutral” rating in a report Thursday and lowered its price target on the company to $35.00 from $53.00. Wedbush lowered its target price on Roblox shares to $33.00 from $36.00 in a report on Wednesday. Cowen began covering shares of Roblox in a report on Monday, September 12. They gave the company an underperform rating and a price target of $31.00. Finally, DA Davidson lowered its target price on shares of Roblox from $55.00 to $50.00 in a report Thursday. Five equities research analysts have rated the stock with a sell rating, nine with a hold rating and nine with a buy rating. According to data from MarketBeat.com, Roblox has an average rating of Hold and a consensus price target of $41.74.

About Roblox

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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 create, 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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