Roblox Corporation $RBLX is Amova Asset Management Americas Inc.’s 8th Largest Position

Amova Asset Management Americas Inc. trimmed its holdings in Roblox Corporation (NYSE:RBLX) by 12.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,768,781 shares of the company’s stock after selling 400,478 shares during the period. Roblox makes up about 2.6% of Amova Asset Management Americas Inc.’s holdings, making the stock its 8th largest holding. Amova Asset Management Americas Inc.’s holdings in Roblox were worth $224,271,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Roblox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after buying an additional 1,020,786 shares during the period. Capital International Investors boosted its position in shares of Roblox by 7.3% during the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after buying an additional 2,184,439 shares during the period. State Street Corp boosted its position 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 worth $1,851,991,000 after buying an additional 1,326,575 shares during the period. Geode Capital Management LLC boosted its position in shares of Roblox by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after buying an additional 547,103 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Roblox by 7.4% in the third quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company’s stock valued at $1,310,719,000 after acquiring an additional 665,127 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

More Roblox News

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Russia’s digital ministry moved to help lift the Roblox ban, potentially reopening access in a large market if the company meets local safety and compliance demands. Russian ministry requests lifting of Roblox ban
• Neutral Sentiment: Insider Mark Reinstra sold 5,978 shares under a pre-arranged 10b5-1 plan, which is worth watching but does not necessarily signal a change in fundamentals.
• Negative Sentiment: Multiple law firms, including Rosen, Pomerantz, Robbins, Faruqi & Faruqi, Levi & Korsinsky, and others, are promoting a securities class action against Roblox, keeping legal risk and headline pressure elevated. Rosen Law Firm Urges Roblox Corporation (NYSE: RBLX) Stockholders with Large Losses to Contact the Firm for Information About Their Rights

Analyst Ratings Changes

Several analysts have recently issued reports on RBLX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a research note on Friday, March 27th. Oppenheimer started coverage on Roblox in a research note on Friday, May 1st. They issued an “outperform” rating on the stock. DA Davidson reduced their price objective on Roblox from $47.50 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Canaccord Genuity Group reduced their price objective on Roblox from $140.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Piper Sandler cut Roblox from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $100.00 to $50.00 in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.07.

Insider Buying and Selling

In other Roblox news, insider Mark Reinstra sold 5,978 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $41.71, for a total transaction of $249,342.38. Following the transaction, the insider owned 426,760 shares of the company’s stock, valued at approximately $17,800,159.60. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Matthew D. Kaufman sold 14,356 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the transaction, the insider directly owned 349,964 shares in the company, valued at approximately $15,842,870.28. The trade was a 3.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 189,449 shares of company stock valued at $9,179,410 over the last 90 days. 10.05% of the stock is currently owned by corporate insiders.

Roblox Stock Up 1.7%

Roblox stock opened at $43.00 on Wednesday. Roblox Corporation has a 1-year low of $40.15 and a 1-year high of $150.59. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $28.88 billion, a PE ratio of -27.21 and a beta of 1.44. The stock’s fifty day moving average is $50.83 and its two-hundred day moving average is $66.39.

Roblox (NYSE:RBLX) last posted its quarterly earnings results 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. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned ($0.32) earnings per share. Roblox’s quarterly revenue was up 43.4% on a year-over-year basis. On average, sell-side analysts expect that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.