Principal Financial Group Inc. Lowers Stake in Roblox Corporation $RBLX

Principal Financial Group Inc. cut its stake in Roblox Corporation (NYSE:RBLX) by 79.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,619 shares of the company’s stock after selling 78,870 shares during the period. Principal Financial Group Inc.’s holdings in Roblox were worth $2,856,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RBLX. Pilgrim Partners Asia Pte Ltd bought a new stake in Roblox during the third quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Roblox during the 3rd quarter valued at about $37,000. Total Investment Management Inc. bought a new stake in Roblox in the 2nd quarter worth approximately $29,000. Root Financial Partners LLC purchased a new stake in Roblox in the third quarter worth approximately $38,000. Finally, Salomon & Ludwin LLC bought a new position in Roblox during the third quarter valued at approximately $41,000. Institutional investors own 94.46% of the company’s stock.

Insider Activity

In related news, CEO David Baszucki sold 272,269 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total value of $19,783,065.54. Following the completion of the transaction, the chief executive officer directly owned 811,373 shares of the company’s stock, valued at $58,954,362.18. This represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $2,181,970.10. Following the sale, the insider owned 307,263 shares in the company, valued at $22,322,656.95. This represents a 8.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 789,521 shares of company stock worth $61,989,659. 12.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RBLX. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a report on Monday, December 29th. Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of Roblox in a research note on Friday, February 6th. Needham & Company LLC reduced their price objective on Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. BTIG Research reissued a “buy” rating and issued a $141.00 target price on shares of Roblox in a research note on Friday, February 6th. Finally, Morgan Stanley dropped their target price on Roblox from $155.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus price target of $119.44.

Roblox Trading Down 0.1%

RBLX opened at $63.09 on Tuesday. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $77.88 and a two-hundred day simple moving average of $105.37. The firm has a market capitalization of $41.74 billion, a price-to-earnings ratio of -40.70 and a beta of 1.63.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.04. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm earned ($0.33) earnings per share. The business’s revenue was up 122.6% compared to the same quarter last year. Analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

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.