Principal Financial Group Inc. Lowers Stock Position in Roblox Corporation (NYSE:RBLX)

Principal Financial Group Inc. reduced its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,631 shares of the company's stock after selling 43,218 shares during the period. Principal Financial Group Inc.'s holdings in Roblox were worth $13,793,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RBLX. Teacher Retirement System of Texas boosted its holdings in Roblox by 1,483.9% during the first quarter. Teacher Retirement System of Texas now owns 70,989 shares of the company's stock worth $4,138,000 after buying an additional 66,507 shares in the last quarter. Krane Funds Advisors LLC boosted its holdings in Roblox by 73.5% during the first quarter. Krane Funds Advisors LLC now owns 6,331 shares of the company's stock worth $369,000 after buying an additional 2,681 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Roblox by 50.3% during the first quarter. Vontobel Holding Ltd. now owns 19,223 shares of the company's stock worth $1,121,000 after buying an additional 6,435 shares in the last quarter. Northwest Wealth Management LLC purchased a new stake in Roblox during the first quarter worth $241,000. Finally, Amalgamated Bank boosted its holdings in Roblox by 5.5% during the first quarter. Amalgamated Bank now owns 37,201 shares of the company's stock worth $2,168,000 after buying an additional 1,930 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Trading Up 0.6%

Roblox stock traded up $0.59 during midday trading on Friday, hitting $105.62. 4,539,981 shares of the stock were exchanged, compared to its average volume of 8,056,834. Roblox Corporation has a fifty-two week low of $35.30 and a fifty-two week high of $108.10. The stock has a market capitalization of $71.64 billion, a price-to-earnings ratio of -78.82 and a beta of 1.60. The stock's 50-day simple moving average is $91.80 and its 200 day simple moving average is $72.36. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the business earned ($0.43) earnings per share. Roblox's revenue was up 30.6% compared to the same quarter last year. On average, equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current year.

Analyst Upgrades and Downgrades

RBLX has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Roblox from $100.00 to $123.00 and gave the stock a "buy" rating in a report on Monday, July 7th. BTIG Research increased their price target on shares of Roblox from $73.00 to $124.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Barclays increased their price target on shares of Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Oppenheimer restated an "outperform" rating and set a $125.00 price objective (up from $80.00) on shares of Roblox in a research report on Wednesday, June 18th. Finally, Benchmark upped their price objective on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.45.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 139,507 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the completion of the transaction, the chief executive officer owned 211,559 shares of the company's stock, valued at $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $102.58, for a total transaction of $615,480.00. Following the transaction, the insider directly owned 313,223 shares of the company's stock, valued at approximately $32,130,415.34. This trade represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,645,690 shares of company stock worth $592,729,502. Insiders own 12.92% of the company's stock.

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.