Thrivent Financial for Lutherans Raises Stake in Roblox Corporation $RBLX

Key Points

• Thrivent Financial for Lutherans significantly increased its Roblox stake, boosting its position by 824.5% in the fourth quarter to 642,763 shares valued at about $52.1 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 94.46% of Roblox shares. Several other investors also opened new positions or added to existing ones.
• Roblox reported quarterly earnings of -$0.35 per share, beating estimates, while revenue rose 43.4% year over year to $1.44 billion. Even so, analysts largely remain cautious, with the consensus rating at Hold and an average target price of $87.17.

Thrivent Financial for Lutherans boosted its position in Roblox Corporation (NYSE:RBLX - Free Report) by 824.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 642,763 shares of the company's stock after buying an additional 573,234 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of Roblox worth $52,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reyes Financial Architecture Inc. boosted its stake in Roblox by 164.4% in the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company's stock worth $25,000 after buying an additional 194 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Roblox in the third quarter worth approximately $26,000. Indiana Trust & Investment Management Co purchased a new stake in Roblox in the fourth quarter worth approximately $32,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Roblox in the third quarter worth approximately $37,000. Finally, Garner Asset Management Corp purchased a new stake in Roblox in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Insiders Place Their Bets

In related news, Director Gregory Baszucki sold 16,666 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $44.97, for a total value of $749,470.02. Following the completion of the sale, the director owned 1,294,501 shares of the company's stock, valued at $58,213,709.97. This trade represents a 1.27% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Matthew D. Kaufman sold 13,325 shares of the firm's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $57.94, for a total value of $772,050.50. Following the completion of the sale, the insider directly owned 364,320 shares of the company's stock, valued at $21,108,700.80. The trade was a 3.53% decrease in their position. 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 three months, insiders sold 76,144 shares of company stock worth $4,235,769. Insiders own 12.92% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RBLX. Benchmark reaffirmed a "hold" rating on shares of Roblox in a research note on Monday, February 2nd. DA Davidson cut their target price on Roblox from $65.00 to $47.50 and set a "neutral" rating for the company in a research note on Friday, May 1st. Wolfe Research began coverage on Roblox in a research note on Friday, May 1st. They set an "outperform" rating for the company. Bank of America lowered Roblox from a "buy" rating to a "neutral" rating and set a $48.00 price objective for the company. in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on Roblox in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $87.17.

Roblox Stock Performance

NYSE:RBLX opened at $42.83 on Friday. The firm has a market cap of $28.77 billion, a PE ratio of -27.11 and a beta of 1.50. Roblox Corporation has a fifty-two week low of $40.15 and a fifty-two week high of $150.59. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The business has a 50 day moving average price of $55.15 and a 200-day moving average price of $74.25.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.06. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.74 billion. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The business's quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Equities research analysts predict that Roblox Corporation will post -1.4 earnings per share for the current year.

Roblox 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.