Sumitomo Mitsui Trust Group Inc. Sells 518,654 Shares of Roblox Corporation (NYSE:RBLX)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,229,215 shares of the company's stock after selling 518,654 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.15% of Roblox worth $421,391,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd boosted its stake in Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after purchasing an additional 240 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Roblox during the 1st quarter valued at about $39,000. Colonial Trust Co SC acquired a new position in Roblox during the 4th quarter valued at about $41,000. Parkside Financial Bank & Trust boosted its stake in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after purchasing an additional 230 shares during the period. Finally, Rakuten Securities Inc. boosted its stake in Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after purchasing an additional 195 shares during the period. Institutional investors own 94.46% of the company's stock.

Roblox Stock Performance

Roblox stock traded up $0.80 during mid-day trading on Friday, reaching $105.80. The company had a trading volume of 11,052,616 shares, compared to its average volume of 7,993,991. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. Roblox Corporation has a 52 week low of $35.30 and a 52 week high of $105.87. The company has a 50 day moving average of $84.13 and a 200-day moving average of $69.26.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the company posted ($0.43) EPS. The business's revenue was up 30.6% on a year-over-year basis. As a group, equities research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RBLX shares. Wedbush reaffirmed a "hold" rating on shares of Roblox in a research note on Monday, June 16th. The Goldman Sachs Group boosted their price objective on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Roth Mkm boosted their target price on shares of Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Oppenheimer reiterated an "outperform" rating and issued a $125.00 price objective (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Finally, Macquarie upped their price objective on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.70.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 6,391 shares of Roblox stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total value of $515,498.06. Following the completion of the transaction, the chief accounting officer now directly owns 73,931 shares of the company's stock, valued at $5,963,274.46. The trade was a 7.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 50,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $58.79, for a total transaction of $2,939,500.00. Following the completion of the sale, the chief financial officer now owns 516,434 shares of the company's stock, valued at $30,361,154.86. The trade was a 8.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,712,649 shares of company stock worth $584,262,803. 12.92% of the stock is currently owned by corporate insiders.

Roblox 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.