Eurizon Capital SGR S.p.A. acquired a new position in Roblox Corporation (NYSE:RBLX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 141,282 shares of the company's stock, valued at approximately $11,450,000.
Several other hedge funds also recently made changes to their positions in the business. Baird Financial Group Inc. increased its position in shares of Roblox by 1.4% in the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company's stock worth $767,000 after acquiring an additional 102 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company's stock worth $39,000 after acquiring an additional 105 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Roblox by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company's stock worth $560,000 after acquiring an additional 110 shares in the last quarter. Westpac Banking Corp increased its position in shares of Roblox by 0.6% in the third quarter. Westpac Banking Corp now owns 20,043 shares of the company's stock worth $2,776,000 after acquiring an additional 115 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Roblox by 1.3% in the second quarter. NewEdge Advisors LLC now owns 10,374 shares of the company's stock worth $1,091,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.
Wall Street Analyst Weigh In
RBLX has been the topic of several analyst reports. Bank of America downgraded shares of Roblox from a "buy" rating to a "neutral" rating and set a $48.00 target price on the stock. in a research report on Friday, May 1st. Wells Fargo & Company dropped their target price on shares of Roblox from $97.00 to $78.00 and set an "overweight" rating on the stock in a research report on Monday, April 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of Roblox in a research report on Friday, March 27th. Morgan Stanley reissued an "overweight" rating and issued a $62.00 target price on shares of Roblox in a research report on Friday, May 1st. Finally, Roth Mkm set a $65.00 target price on shares of Roblox in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $87.07.
Read Our Latest Report on RBLX
Insiders Place Their Bets
In other news, insider Mark Reinstra sold 5,460 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $46.40, for a total value of $253,344.00. Following the completion of the sale, the insider directly owned 432,738 shares in the company, valued at approximately $20,079,043.20. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the transaction, the chief executive officer owned 852,214 shares of the company's stock, valued at approximately $38,588,249.92. The trade was a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 183,471 shares of company stock valued at $8,930,068 in the last three months. Company insiders own 10.05% of the company's stock.
Roblox Price Performance
Shares of Roblox stock opened at $47.10 on Monday. The firm has a fifty day simple moving average of $52.48 and a 200-day simple moving average of $69.26. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. Roblox Corporation has a 1-year low of $40.15 and a 1-year high of $150.59. The stock has a market capitalization of $31.63 billion, a price-to-earnings ratio of -29.81 and a beta of 1.44.
Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the company earned ($0.32) earnings per share. Roblox's revenue for the quarter was up 43.4% on a year-over-year basis. On average, sell-side analysts expect that Roblox Corporation will post -1.4 earnings per share for the current year.
Roblox declared that its board has approved a stock buyback plan on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 9.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.
Roblox Company Profile
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Free Report)
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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