Nuveen Asset Management LLC Sells 613,373 Shares of Roblox Co. (NYSE:RBLX)

Nuveen Asset Management LLC trimmed its position in Roblox Co. (NYSE:RBLX - Free Report) by 32.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,277,835 shares of the company's stock after selling 613,373 shares during the period. Nuveen Asset Management LLC owned approximately 0.21% of Roblox worth $73,936,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Roblox by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company's stock worth $3,080,449,000 after acquiring an additional 462,450 shares during the last quarter. FMR LLC raised its holdings in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after buying an additional 18,715,837 shares during the period. Wealthfront Advisers LLC boosted its position in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock worth $1,063,365,000 after acquiring an additional 17,312,325 shares during the last quarter. Ieq Capital LLC increased its holdings in Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock worth $960,049,000 after buying an additional 3,507,901 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Roblox by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company's stock valued at $495,564,000 after acquiring an additional 246,610 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RBLX shares. Roth Mkm lifted their target price on shares of Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Moffett Nathanson lowered Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price target for the company. in a research note on Friday, February 7th. Canaccord Genuity Group raised their price objective on shares of Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Citigroup raised their target price on shares of Roblox from $78.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.68.

Insiders Place Their Bets

In other news, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $79.94, for a total transaction of $479,640.00. Following the completion of the transaction, the insider now directly owns 346,244 shares of the company's stock, valued at $27,678,745.36. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Manuel Bronstein sold 68,722 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $80.00, for a total transaction of $5,497,760.00. Following the sale, the insider now owns 582,454 shares of the company's stock, valued at $46,596,320. This trade represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,432,954 shares of company stock valued at $167,209,673 in the last quarter. Insiders own 22.15% of the company's stock.

Roblox Trading Down 0.6%

Shares of RBLX traded down $0.48 during midday trading on Wednesday, reaching $81.23. The company had a trading volume of 6,533,463 shares, compared to its average volume of 7,737,477. Roblox Co. has a 1-year low of $31.59 and a 1-year high of $83.01. The stock has a market cap of $51.18 billion, a PE ratio of -56.02 and a beta of 1.46. The firm has a 50 day simple moving average of $63.74 and a 200-day simple moving average of $61.21. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The business's revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) earnings per share. Research analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

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.