Avory & Company LLC acquired a new stake in shares of Roblox Corporation (NYSE:RBLX – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,653 shares of the company’s stock, valued at approximately $1,225,000. Roblox comprises 1.6% of Avory & Company LLC’s portfolio, making the stock its 17th largest holding
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Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Roblox during the fourth quarter worth $435,424,000. SRS Investment Management LLC acquired a new position in Roblox in the 4th quarter valued at $238,065,000. Capital International Investors increased its stake in Roblox by 7.3% in the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after buying an additional 2,184,439 shares during the period. ValueAct Holdings L.P. increased its stake in Roblox by 39.5% in the 4th quarter. ValueAct Holdings L.P. now owns 5,975,821 shares of the company’s stock valued at $484,221,000 after buying an additional 1,692,600 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Roblox by 99.5% during the 4th quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock worth $273,693,000 after buying an additional 1,684,411 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Activity
In related news, insider Mark Reinstra sold 18,653 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $57.94, for a total value of $1,080,754.82. Following the sale, the insider owned 455,473 shares of the company’s stock, valued at approximately $26,390,105.62. This represents a 3.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Baszucki sold 50,628 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total value of $2,292,435.84. Following the sale, the chief executive officer owned 852,214 shares in the company, valued at approximately $38,588,249.92. This trade represents a 5.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 189,449 shares of company stock worth $9,175,077. 10.05% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Roblox from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Cantor Fitzgerald initiated coverage on shares of Roblox in a report on Monday, June 29th. They set an “overweight” rating for the company. Raymond James Financial began coverage on shares of Roblox in a research report on Monday, June 29th. They issued a “market perform” rating for the company. UBS Group initiated coverage on Roblox in a report on Monday, June 29th. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Roblox in a research note on Monday, June 29th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average target price of $85.48.
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