Roblox Corporation $RBLX Stake Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Roblox Corporation (NYSE:RBLX) by 69.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 192,045 shares of the company’s stock after selling 433,637 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Roblox were worth $15,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock valued at $8,648,911,000 after buying an additional 3,284,073 shares during the period. State Street Corp grew its holdings in shares of Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock valued at $1,851,991,000 after purchasing an additional 1,326,575 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Roblox by 7.4% during the 3rd quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company’s stock worth $1,310,719,000 after purchasing an additional 665,127 shares during the period. Franklin Resources Inc. boosted its position in Roblox by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company’s stock valued at $964,611,000 after purchasing an additional 619,048 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Roblox by 7.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,204 shares of the company’s stock worth $713,129,000 after buying an additional 360,009 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Roblox news, Director Gregory Baszucki sold 16,666 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $57.95, for a total value of $965,794.70. Following the completion of the sale, the director directly owned 1,302,834 shares in the company, valued at $75,499,230.30. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Arvind Chakravarthy sold 40,646 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. The SEC filing for this sale provides additional information. Insiders have sold 593,914 shares of company stock valued at $42,261,697 over the last 90 days. Corporate insiders own 12.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RBLX. The Goldman Sachs Group dropped their target price on Roblox from $180.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Roth Mkm upgraded shares of Roblox from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $84.00 in a research report on Monday, February 9th. UBS Group set a $74.00 target price on shares of Roblox in a research note on Friday, February 6th. BMO Capital Markets restated an “outperform” rating on shares of Roblox in a research report on Friday, February 6th. Finally, Jefferies Financial Group set a $85.00 price target on shares of Roblox in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $117.52.

Roblox Stock Performance

RBLX stock opened at $60.14 on Friday. The company has a 50-day simple moving average of $63.12 and a 200 day simple moving average of $89.73. The company has a market capitalization of $39.79 billion, a P/E ratio of -38.80 and a beta of 1.67. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the company earned ($0.33) EPS. Roblox’s quarterly revenue was up 122.6% on a year-over-year basis. Sell-side analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal 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.