Allen Investment Management LLC Cuts Holdings in Roblox Corporation $RBLX

Allen Investment Management LLC decreased its holdings in Roblox Corporation (NYSE:RBLX) by 14.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 212,239 shares of the company’s stock after selling 34,911 shares during the period. Allen Investment Management LLC’s holdings in Roblox were worth $17,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RBLX. Reyes Financial Architecture Inc. increased its holdings in shares of 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 bought a new stake in Roblox during the fourth quarter valued at about $27,000. Indiana Trust & Investment Management Co purchased a new position in Roblox in the fourth quarter valued at about $32,000. Garner Asset Management Corp purchased a new position in Roblox in the fourth quarter valued at about $37,000. Finally, Sunbelt Securities Inc. raised its holdings in Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RBLX shares. Bank of America cut shares of Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a report on Friday, May 1st. Morgan Stanley restated an “overweight” rating and issued a $62.00 target price on shares of Roblox in a research note on Friday, May 1st. Canaccord Genuity Group cut their price target on shares of Roblox from $140.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 1st. TD Cowen raised Roblox from a “sell” rating to a “hold” rating and reduced their price target for the stock from $54.00 to $49.00 in a research report on Friday, May 1st. Finally, Wolfe Research began coverage on Roblox in a report on Friday, May 1st. They set an “outperform” rating for the company. One investment 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 issued a Sell rating to the company. According to MarketBeat.com, Roblox currently has an average rating of “Hold” and a consensus price target of $87.07.

Roblox Stock Performance

Shares of RBLX opened at $47.02 on Tuesday. 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 50-day moving average of $52.27 and a two-hundred day moving average of $68.85. The stock has a market cap of $31.58 billion, a P/E ratio of -29.76 and a beta of 1.44. Roblox Corporation has a one year low of $40.15 and a one year high of $150.59.

Roblox (NYSE:RBLX) last released its quarterly earnings data 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) earnings per share. As a group, research analysts predict that Roblox Corporation will post -1.4 EPS for the current year.

Roblox declared that its board has authorized a share repurchase program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 9.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Roblox

In related news, insider Matthew D. Kaufman sold 14,356 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total transaction of $649,896.12. Following the sale, the insider directly owned 349,964 shares of the company’s stock, valued at approximately $15,842,870.28. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen K. Chopra sold 16,863 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total transaction of $763,556.64. Following the sale, the chief financial officer owned 380,758 shares in the company, valued at approximately $17,240,722.24. This represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 183,471 shares of company stock valued at $8,930,068 in the last 90 days. 10.05% of the stock is currently owned by corporate insiders.

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.