Rockefeller Capital Management L.P. Sells 9,792 Shares of Roblox Corporation $RBLX

Rockefeller Capital Management L.P. lessened its stake in Roblox Corporation (NYSE:RBLX) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,629 shares of the company’s stock after selling 9,792 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Roblox were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Reyes Financial Architecture Inc. increased its stake in Roblox by 164.4% during the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 194 shares in the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of Roblox in the fourth quarter worth approximately $27,000. GW&K Investment Management LLC grew its holdings in shares of Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. Indiana Trust & Investment Management Co purchased a new stake in shares of Roblox during the fourth quarter valued at approximately $32,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Roblox during the fourth quarter valued at approximately $32,000. Institutional investors own 94.46% of the company’s stock.

Roblox Price Performance

Shares of NYSE:RBLX opened at $54.37 on Tuesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. Roblox Corporation has a 1-year low of $40.15 and a 1-year high of $150.59. The company has a market capitalization of $36.51 billion, a P/E ratio of -34.41 and a beta of 1.44. The firm’s 50 day simple moving average is $48.06 and its two-hundred day simple moving average is $61.84.

Roblox (NYSE:RBLX) last posted 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 during 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 company’s revenue was up 43.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share. Research analysts expect that Roblox Corporation will post -1.4 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 5,978 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $41.71, for a total value of $249,342.38. Following the completion of the sale, the insider owned 426,760 shares in the company, valued at approximately $17,800,159.60. This represents a 1.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $45.27, for a total value of $649,896.12. Following the sale, the insider directly 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 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 have sold a total of 189,449 shares of company stock worth $9,179,410 in the last three months. 10.05% of the stock is owned by company insiders.

Roblox News Roundup

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Roblox is seeing unusually heavy call option activity, suggesting some traders are betting on further upside in the stock. Roblox shows huge, unusual call option activity – is RBLX stock too cheap?
• Positive Sentiment: Market commentary is highlighting a possible valuation opportunity in Roblox after the recent selloff, which may be helping attract bargain hunters. Roblox stock is surging Monday: What’s driving the action?
• Neutral Sentiment: Several law firms are reminding investors of the August 7 deadline to seek lead-plaintiff status in the securities class action, keeping legal scrutiny around Roblox in the spotlight. ROSEN, HIGHLY REGARDED INVESTOR COUNSEL, Encourages Roblox Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action – RBLX
• Neutral Sentiment: The class-action filings center on Roblox’s April quarter update, where the company reported a sharp sequential decline in daily active users after its age-verification rollout, adding uncertainty around user growth. Roblox Corporation (RBLX) Faces Securities Class Action Amid Surprise Age Verification Impact, $6.7 Billion Market Cap Wiped Out – HBBS
• Negative Sentiment: Multiple firms say a securities fraud class action has already been filed against Roblox and its officers, a legal overhang that could pressure sentiment. RBLX Investors Have Opportunity to Lead Roblox Corporation Securities Fraud Lawsuit

Analysts Set New Price Targets

RBLX has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered shares of Roblox from a “hold” rating to a “hold” rating in a report on Friday, May 1st. Seaport Research Partners lowered Roblox to a “neutral” rating in a report on Monday. Citigroup cut Roblox from a “buy” rating to an “underperform” rating in a research note on Monday. BMO Capital Markets raised Roblox from an “outperform” rating to an “outperform” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.30.

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.