Roblox Corporation (NYSE:RBLX) Stock Position Lessened by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. decreased its stake in Roblox Corporation by 7.9% during the 1st quarter, now holding about 6.14 million shares worth approximately $358 million.
• Roblox CEO David Baszucki sold over 1.37 million shares of the company's stock, reducing his ownership by 86.10%.
• Analysts have set a range of price targets for Roblox, with a consensus rating of "Moderate Buy" and an average price target of $95.95.

Nikko Asset Management Americas Inc. decreased its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 7.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,141,027 shares of the company's stock after selling 525,075 shares during the quarter. Roblox accounts for about 4.5% of Nikko Asset Management Americas Inc.'s holdings, making the stock its 7th largest holding. Nikko Asset Management Americas Inc. owned 0.98% of Roblox worth $357,960,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Thrivent Financial for Lutherans acquired a new position in Roblox in the 4th quarter valued at $229,000. Teacher Retirement System of Texas acquired a new stake in shares of Roblox in the fourth quarter valued at about $259,000. Sei Investments Co. lifted its stake in shares of Roblox by 97.5% in the fourth quarter. Sei Investments Co. now owns 256,120 shares of the company's stock worth $14,819,000 after buying an additional 126,413 shares in the last quarter. Korea Investment CORP grew its stake in Roblox by 372.6% during the 4th quarter. Korea Investment CORP now owns 312,006 shares of the company's stock valued at $18,053,000 after acquiring an additional 245,982 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Roblox by 8.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 338,874 shares of the company's stock valued at $20,492,000 after acquiring an additional 26,024 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Insider Transactions at Roblox

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total value of $6,856,740.00. Following the transaction, the director directly owned 284,488 shares in the company, valued at $29,555,458.32. This represents a 18.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total transaction of $711,060.00. Following the sale, the insider directly owned 307,223 shares in the company, valued at approximately $36,408,997.73. The trade was a 1.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,651,690 shares of company stock valued at $593,440,562. Corporate insiders own 12.92% of the company's stock.

Roblox Stock Up 4.7%

Shares of RBLX traded up $5.56 during mid-day trading on Wednesday, hitting $123.89. 5,824,615 shares of the company's stock were exchanged, compared to its average volume of 8,606,574. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. Roblox Corporation has a fifty-two week low of $35.30 and a fifty-two week high of $127.99. The company has a market cap of $84.03 billion, a price-to-earnings ratio of -92.46 and a beta of 1.60. The stock's 50-day moving average is $102.20 and its 200-day moving average is $77.27.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. Roblox's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.43) earnings per share. On average, sell-side analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on Roblox from $95.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. BTIG Research set a $131.00 price objective on Roblox and gave the stock a "buy" rating in a research note on Monday. Oppenheimer reaffirmed an "outperform" rating and issued a $125.00 target price (up from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price target on shares of Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Bank of America lifted their target price on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $96.27.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It 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 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.