Hsbc Holdings PLC Boosts Stock Position in Roblox Corporation $RBLX

Hsbc Holdings PLC raised its holdings in Roblox Corporation (NYSE:RBLXFree Report) by 127.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625,234 shares of the company’s stock after buying an additional 350,686 shares during the period. Hsbc Holdings PLC owned about 0.09% of Roblox worth $50,786,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Roblox by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock valued at $5,142,065,000 after acquiring an additional 1,020,786 shares during the last quarter. Capital International Investors lifted its stake in 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 purchasing an additional 2,184,439 shares during the last quarter. Morgan Stanley lifted its stake in Roblox by 8.1% during the fourth quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock worth $1,679,664,000 after purchasing an additional 1,555,549 shares during the last quarter. State Street Corp boosted its holdings in Roblox by 3.3% in the fourth quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after purchasing an additional 442,518 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Roblox by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock valued at $988,002,000 after purchasing an additional 547,103 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Matthew D. Kaufman sold 14,356 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total transaction of $649,896.12. Following the completion of the sale, the insider owned 349,964 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Reinstra sold 18,653 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $57.94, for a total value of $1,080,754.82. Following the transaction, the insider directly owned 455,473 shares in the company, valued at approximately $26,390,105.62. This represents a 3.93% 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 a total of 189,449 shares of company stock valued at $9,179,410 in the last quarter. Corporate insiders own 10.05% of the company’s stock.

Trending Headlines about Roblox

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Roblox Stock Performance

Shares of RBLX opened at $47.15 on Wednesday. The company’s 50 day simple moving average is $48.86 and its 200-day simple moving average is $63.19. The firm has a market cap of $31.67 billion, a PE ratio of -29.84 and a beta of 1.44. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45.

Roblox (NYSE:RBLXGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. Roblox’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) EPS. As a group, equities analysts predict that Roblox Corporation will post -1.4 EPS for the current year.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RBLX shares. Citigroup reduced their price objective on shares of Roblox from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a research note on Friday, March 27th. Raymond James Financial cut shares of Roblox from an “outperform” rating to a “market perform” rating in a research report on Friday, May 1st. HSBC downgraded shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 price objective for the company. in a research note on Friday, May 1st. Finally, The Goldman Sachs Group dropped their price objective on Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, May 1st. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.07.

Check Out Our Latest Stock Analysis on RBLX

Roblox Profile

(Free Report)

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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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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