Sumitomo Mitsui Trust Group Inc. Sells 423,768 Shares of Roblox Corporation $RBLX

Key Points

• Sumitomo Mitsui Trust Group sold 423,768 Roblox shares in Q4, cutting its stake by 9.5% to 4,035,675 shares valued at about $327.0 million (0.62% of the company).
• Insiders sold 527,018 shares worth $37.15 million in the last quarter (including CEO David Baszucki’s 10,834-share sale), leaving insiders with 12.92% ownership.
• Analysts show a consensus "Moderate Buy" with an average target of $116.76 while Roblox trades around $55.55 (1-year range $51.23–$150.59) and institutional investors own roughly 94.46% of the stock.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,035,675 shares of the company's stock after selling 423,768 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.62% of Roblox worth $327,011,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Roblox by 5.6% during the third quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company's stock worth $8,648,911,000 after acquiring an additional 3,284,073 shares during the last quarter. State Street Corp lifted its position in Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company's stock worth $1,851,991,000 after acquiring an additional 1,326,575 shares during the last quarter. AQR Capital Management LLC lifted its position in Roblox by 7.4% during the third quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company's stock worth $1,310,719,000 after acquiring an additional 665,127 shares during the last quarter. Franklin Resources Inc. lifted its position in Roblox by 9.8% during the third quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company's stock worth $964,611,000 after acquiring an additional 619,048 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Roblox by 12.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,794,063 shares of the company's stock worth $469,493,000 after acquiring an additional 645,859 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Freedom Capital upgraded shares of Roblox from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 6th. Canaccord Genuity Group cut their price objective on shares of Roblox from $160.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, February 3rd. Piper Sandler restated an "overweight" rating and set a $100.00 price objective (down from $125.00) on shares of Roblox in a research report on Friday, February 6th. Wolfe Research set a $100.00 price objective on shares of Roblox in a research report on Monday, January 5th. Finally, TD Cowen restated a "sell" rating on shares of Roblox in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.76.

Roblox Stock Up 0.7%

NYSE RBLX opened at $55.55 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox Corporation has a 1-year low of $51.23 and a 1-year high of $150.59. The company has a 50 day moving average of $61.48 and a 200-day moving average of $86.97. The company has a market cap of $36.75 billion, a price-to-earnings ratio of -35.84 and a beta of 1.67.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business earned ($0.33) earnings per share. The firm's quarterly revenue was up 122.6% on a year-over-year basis. On average, equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Baszucki sold 10,834 shares of Roblox stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $61.63, for a total value of $667,699.42. Following the completion of the sale, the chief executive officer directly owned 800,539 shares in the company, valued at approximately $49,337,218.57. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew D. Kaufman sold 30,034 shares of Roblox stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the completion of the sale, the insider owned 307,263 shares of the company's stock, valued at approximately $22,322,656.95. The trade was a 8.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 527,018 shares of company stock valued at $37,145,491 in the last quarter. Corporate insiders own 12.92% of the company's stock.

About Roblox

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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