Roblox Corporation $RBLX Stock: Citizens Financial Group Inc. RI Boosts Position

Key Points

• Citizens Financial Group increased its Roblox stake by 227.5% in the third quarter, purchasing 18,701 additional shares to hold 26,921 shares valued at approximately $1.14 million. Institutional investors collectively own 94.46% of the company.
• Analyst sentiment remains mixed: Roblox has an average rating of “Hold” and an average price target of $57.22, despite several firms raising their targets and others maintaining sell or hold ratings.
• Roblox shares opened at $54.55, while the company reported a quarterly loss of $0.26 per share—better than expectations—but revenue of $1.47 billion fell short of estimates. CEO and CFO stock sales were made to cover tax obligations tied to vested equity awards.

Citizens Financial Group Inc. RI boosted its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 227.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,921 shares of the company's stock after buying an additional 18,701 shares during the period. Citizens Financial Group Inc. RI's holdings in Roblox were worth $1,141,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RBLX. TD Waterhouse Canada Inc. grew its stake in shares of Roblox by 21.5% in the third quarter. TD Waterhouse Canada Inc. now owns 1,152 shares of the company's stock worth $50,000 after acquiring an additional 204 shares during the last quarter. Stonekeep Investments LLC increased its holdings in shares of Roblox by 2.4% during the second quarter. Stonekeep Investments LLC now owns 9,070 shares of the company's stock valued at $493,000 after acquiring an additional 213 shares in the last quarter. Activest Wealth Management raised its position in shares of Roblox by 72.9% in the 3rd quarter. Activest Wealth Management now owns 588 shares of the company's stock worth $25,000 after purchasing an additional 248 shares during the last quarter. Basecamp Wealth Advisors LLC raised its position in shares of Roblox by 98.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company's stock worth $29,000 after purchasing an additional 252 shares during the last quarter. Finally, Root Financial Partners LLC raised its position in shares of Roblox by 100.7% in the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company's stock worth $32,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Analyst Ratings Changes

RBLX has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Roblox from $44.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, September 14th. JPMorgan Chase & Co. lifted their target price on shares of Roblox from $40.00 to $53.00 and gave the stock a "neutral" rating in a report on Wednesday, October 14th. UBS Group upped their target price on shares of Roblox from $45.00 to $53.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 14th. BTIG Research upped their target price on shares of Roblox from $30.00 to $41.00 and gave the stock a "sell" rating in a research note on Tuesday, September 15th. Finally, TD Cowen cut their price target on shares of Roblox from $49.00 to $40.00 and set a "hold" rating on the stock in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, Roblox currently has an average rating of "Hold" and an average target price of $57.22.

Roblox Price Performance

Shares of NYSE:RBLX opened at $54.55 on Wednesday. Roblox Corporation has a 1 year low of $33.88 and a 1 year high of $134.67. The company has a market cap of $36.55 billion, a P/E ratio of -38.15 and a beta of 1.47. The stock's fifty day moving average price is $45.67 and its 200-day moving average price is $53.07.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.08. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business posted ($0.41) earnings per share. Roblox's quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Roblox Corporation will post -1.41 earnings per share for the current year.

Insider Activity

In other news, CEO David Baszucki sold 52,568 shares of Roblox stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $1,995,481.28. Following the completion of the sale, the chief executive officer directly owned 799,646 shares in the company, valued at $30,354,562.16. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen Chopra sold 17,509 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $664,641.64. Following the transaction, the chief financial officer directly owned 363,249 shares of the company's stock, valued at $13,788,932.04. The trade was a 4.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 186,390 shares of company stock worth $7,283,371. 10.05% of the stock is owned by corporate insiders.

Roblox Company Profile

Roblox Corporation operates Roblox, an online platform where users can create, publish, and participate in interactive digital experiences. The platform supports a broad range of user-generated content, including games, social spaces, entertainment, educational activities, and virtual events.

Roblox provides development tools through Roblox Studio, enabling creators and developers to design experiences and build virtual items and environments. Users can customize avatars, communicate with others, and access content across computers, mobile devices, consoles, and other supported platforms.

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