Roblox Corporation $RBLX Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp cut its Roblox stake by 66.5% in the fourth quarter, leaving it with 11,953 shares valued at about $969,000.
• Roblox posted a mixed earnings report: it beat EPS estimates with a loss of $0.35 per share, but revenue of $1.44 billion came in below expectations even though it rose 43.4% year over year.
• Wall Street sentiment remains cautious, with several analyst price-target cuts and a current consensus rating of Hold and average price target of $87.17, while the stock recently traded near $42.83.

Truist Financial Corp trimmed its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 66.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,953 shares of the company's stock after selling 23,739 shares during the quarter. Truist Financial Corp's holdings in Roblox were worth $969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service boosted its holdings in Roblox by 7.3% during the third quarter. National Pension Service now owns 1,697,820 shares of the company's stock worth $235,182,000 after buying an additional 115,096 shares in the last quarter. Cypress Wealth Services LLC purchased a new stake in Roblox during the fourth quarter worth about $2,373,000. Yarbrough Capital LLC boosted its holdings in Roblox by 1,514.5% during the fourth quarter. Yarbrough Capital LLC now owns 57,331 shares of the company's stock worth $4,646,000 after buying an additional 53,780 shares in the last quarter. Triglav Investments D.O.O. purchased a new stake in Roblox during the third quarter worth about $3,186,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Roblox by 28.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,590 shares of the company's stock worth $10,609,000 after buying an additional 16,915 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. BTIG Research downgraded shares of Roblox from a "buy" rating to a "neutral" rating in a report on Friday, May 1st. Roth Mkm set a $65.00 price objective on shares of Roblox in a report on Tuesday, May 5th. TD Cowen raised shares of Roblox from a "sell" rating to a "hold" rating and decreased their price objective for the stock from $54.00 to $49.00 in a report on Friday, May 1st. UBS Group decreased their price objective on shares of Roblox from $74.00 to $49.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Roblox from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.17.

Roblox Stock Down 2.0%

Shares of NYSE RBLX opened at $42.83 on Friday. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59. The company has a market capitalization of $28.77 billion, a PE ratio of -27.11 and a beta of 1.50. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The firm's 50-day moving average is $55.15 and its two-hundred day moving average is $74.25.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. The company's revenue for the quarter was up 43.4% compared to the same quarter last year. Equities analysts anticipate that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Mark Reinstra sold 18,653 shares of the company's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $57.94, for a total value of $1,080,754.82. Following the sale, the insider owned 455,473 shares of the company's stock, valued at $26,390,105.62. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $44.97, for a total transaction of $749,470.02. Following the transaction, the director directly owned 1,294,501 shares in the company, valued at $58,213,709.97. The trade was a 1.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,144 shares of company stock worth $4,235,769 over the last ninety days. 12.92% of the stock is currently owned by company insiders.

Roblox Company 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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