Bank of New York Mellon Corp Raises Position in Roblox Corporation $RBLX

Bank of New York Mellon Corp lifted its stake in Roblox Corporation (NYSE:RBLX) by 3.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,787,634 shares of the company’s stock after acquiring an additional 58,802 shares during the quarter. Bank of New York Mellon Corp’s holdings in Roblox were worth $144,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Westpac Banking Corp boosted its position in shares of Roblox by 33.2% in the fourth quarter. Westpac Banking Corp now owns 26,689 shares of the company’s stock worth $2,163,000 after buying an additional 6,646 shares during the period. AXQ Capital LP boosted its position in shares of Roblox by 662.6% in the fourth quarter. AXQ Capital LP now owns 29,110 shares of the company’s stock worth $2,359,000 after buying an additional 25,293 shares during the period. Fielder Capital Group LLC boosted its holdings in Roblox by 28.7% in the fourth quarter. Fielder Capital Group LLC now owns 2,990 shares of the company’s stock valued at $242,000 after purchasing an additional 667 shares during the last quarter. Main Management ETF Advisors LLC boosted its holdings in Roblox by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 23,490 shares of the company’s stock valued at $1,903,000 after purchasing an additional 240 shares during the last quarter. Finally, Florida Financial Advisors LLC boosted its holdings in Roblox by 22.7% in the fourth quarter. Florida Financial Advisors LLC now owns 11,502 shares of the company’s stock valued at $932,000 after purchasing an additional 2,126 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Transactions at Roblox

In related news, CAO Amy Marie Rawlings sold 2,895 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.24, for a total value of $130,969.80. Following the sale, the chief accounting officer directly owned 35,238 shares in the company, valued at $1,594,167.12. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Jack Buckley sold 4,744 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $46.36, for a total value of $219,931.84. Following the completion of the sale, the insider owned 97,141 shares in the company, valued at approximately $4,503,456.76. This represents a 4.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 183,471 shares of company stock worth $8,930,068 over the last quarter. Insiders own 10.05% of the company’s stock.

Roblox Stock Down 3.3%

Shares of Roblox stock opened at $41.92 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. The business’s 50 day simple moving average is $51.24 and its 200-day simple moving average is $67.43. The stock has a market capitalization of $28.15 billion, a price-to-earnings ratio of -26.53 and a beta of 1.44. Roblox Corporation has a twelve month low of $40.15 and a twelve month high of $150.59.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) EPS. Equities research analysts forecast that Roblox Corporation will post -1.4 earnings per share for the current year.

Roblox announced that its board has approved a stock repurchase plan on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America downgraded Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a report on Friday, May 1st. Oppenheimer began coverage on Roblox in a report on Friday, May 1st. They set an “outperform” rating on the stock. The Goldman Sachs Group reduced their target price on Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, May 1st. UBS Group reduced their target price on Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Finally, Wolfe Research began coverage on Roblox in a report on Friday, May 1st. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.07.

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.