Caprock Group LLC Lowers Stock Holdings in Roblox Corporation $RBLX

Key Points

• Caprock Group LLC cut its stake in Roblox by 6.1%, selling 18,004 shares and ending the quarter with 279,566 shares worth about $22.65 million.
• Insider selling has been notable recently: directors Gregory Baszucki and Mark Reinstra sold 16,666 and 18,653 shares respectively (Baszucki under a 10b5-1 plan; Reinstra to cover tax withholding), and insiders sold a total of 551,996 shares (~$38.4 million) over the last 90 days.
• Sell-side analysts remain mixed but generally positive with a MarketBeat consensus of "Moderate Buy" and a consensus target price of $116.76, while individual targets range widely (e.g., Goldman Sachs cut its target to $140, DA Davidson at $65).

Caprock Group LLC reduced its position in Roblox Corporation (NYSE:RBLX - Free Report) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 279,566 shares of the company's stock after selling 18,004 shares during the period. Caprock Group LLC's holdings in Roblox were worth $22,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS lifted its stake in shares of Roblox by 4.2% during the 4th quarter. KLP Kapitalforvaltning AS now owns 212,000 shares of the company's stock worth $17,178,000 after purchasing an additional 8,500 shares during the period. PFG Advisors purchased a new position in shares of Roblox during the 4th quarter worth $302,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Roblox by 7.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 203,106 shares of the company's stock worth $16,458,000 after purchasing an additional 14,145 shares during the period. Earned Wealth Advisors LLC lifted its stake in shares of Roblox by 30.3% during the 4th quarter. Earned Wealth Advisors LLC now owns 10,243 shares of the company's stock worth $830,000 after purchasing an additional 2,384 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Roblox by 9.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,862 shares of the company's stock worth $1,853,000 after purchasing an additional 1,965 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $57.95, for a total value of $965,794.70. Following the completion of the sale, the director owned 1,302,834 shares of the company's stock, valued at $75,499,230.30. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 18,653 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $57.94, for a total transaction of $1,080,754.82. Following the completion of the sale, the insider directly owned 455,473 shares of the company's stock, valued at $26,390,105.62. The trade was a 3.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 551,996 shares of company stock valued at $38,421,146. 12.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RBLX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $115.00 price target on Roblox in a research note on Tuesday, January 20th. The Goldman Sachs Group dropped their price target on shares of Roblox from $180.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, February 6th. DA Davidson started coverage on shares of Roblox in a research report on Wednesday, March 4th. They set a "neutral" rating and a $65.00 price target for the company. Benchmark reaffirmed a "hold" rating on shares of Roblox in a research report on Monday, February 2nd. Finally, Roth Mkm raised shares of Roblox from a "neutral" rating to a "buy" rating and upped their price target for the stock from $78.00 to $84.00 in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $116.76.

Roblox Stock Performance

Shares of RBLX stock opened at $61.33 on Wednesday. Roblox Corporation has a one year low of $51.23 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50 day moving average price of $60.51 and a 200 day moving average price of $83.00. The firm has a market capitalization of $41.01 billion, a price-to-earnings ratio of -39.57 and a beta of 1.67.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business posted ($0.33) earnings per share. Roblox's revenue for the quarter was up 122.6% compared to the same quarter last year. Sell-side analysts anticipate that Roblox Corporation will post -1.61 EPS for the current year.

Roblox Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company's building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox's business model is built around its virtual economy and creator ecosystem.

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