Sterling Capital Management LLC lessened its position in Roblox Corporation (NYSE:RBLX – Free Report) by 74.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,509 shares of the company’s stock after selling 13,132 shares during the period. Sterling Capital Management LLC’s holdings in Roblox were worth $255,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its position in shares of Roblox by 58.7% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after buying an additional 105 shares during the period. Horizon Investments LLC grew its holdings in Roblox by 2,636.4% in the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company’s stock worth $42,000 after buying an additional 290 shares in the last quarter. Reyes Financial Architecture Inc. increased its position in Roblox by 164.4% in the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 194 shares during the period. Fideuram Asset Management Ireland dac acquired a new stake in Roblox in the 4th quarter valued at approximately $27,000. Finally, GW&K Investment Management LLC raised its stake in Roblox by 76.3% during the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, insider Mark Reinstra sold 18,653 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $57.94, for a total transaction of $1,080,754.82. Following the sale, the insider directly owned 455,473 shares of the company’s stock, valued at $26,390,105.62. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $44.97, for a total value of $749,470.02. Following the sale, the director directly owned 1,294,501 shares of the company’s stock, valued at approximately $58,213,709.97. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 189,449 shares of company stock worth $9,175,077. Corporate insiders own 10.05% of the company’s stock.
Trending Headlines about Roblox
- Negative Sentiment: Roblox is facing a securities class action over claims that its Q1 report failed to fully account for the impact of age-check changes on user growth, keeping legal and reputational risk in focus. Roblox Corporation Faces Securities Class Action Amid Surprise Age Verification Impact
- Negative Sentiment: Multiple law firms are reminding investors about the lead-plaintiff deadline, reinforcing headline risk and suggesting the litigation story is still gathering momentum. RBLX Shareholder Action Reminder
- Negative Sentiment: Insider selling by Director Gregory Baszucki added to cautious sentiment, even though the sale was made under a pre-arranged 10b5-1 trading plan. Insider Selling: Roblox Director Sells 16,666 Shares
- Neutral Sentiment: Roblox also partnered with EDO to add TV-style ad benchmarks to its platform, a longer-term monetization development that could help advertising demand but is not an immediate catalyst. Roblox Partners With EDO To Bring TV Style Ad Benchmarks In Game
Roblox Trading Down 0.2%
Shares of NYSE:RBLX opened at $55.29 on Monday. 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 stock has a market capitalization of $37.13 billion, a price-to-earnings ratio of -34.99 and a beta of 1.41. Roblox Corporation has a 1-year low of $40.15 and a 1-year high of $150.59. The company has a 50 day moving average price of $47.64 and a 200 day moving average price of $60.84.
Roblox (NYSE:RBLX – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned ($0.32) earnings per share. The firm’s revenue was up 43.4% on a year-over-year basis. On average, research analysts anticipate that Roblox Corporation will post -1.4 EPS for the current fiscal year.
Roblox declared that its board has authorized a stock repurchase program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $62.00 price target on shares of Roblox in a research report on Friday, May 1st. UBS Group began coverage on shares of Roblox in a research note on Monday, June 29th. They set a “buy” rating on the stock. Barclays raised shares of Roblox from an “equal weight” rating to an “outperform” rating in a report on Monday, June 29th. HSBC lowered shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a research report on Friday, May 1st. Finally, TD Cowen upgraded shares of Roblox from a “sell” rating to a “hold” rating and dropped their price target for the stock from $54.00 to $49.00 in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.48.
Read Our Latest Analysis on Roblox
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.
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