Assetmark Inc. Reduces Holdings in Roblox Corporation $RBLX

Assetmark Inc. reduced its position in Roblox Corporation (NYSE:RBLX) by 31.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,560 shares of the company’s stock after selling 23,085 shares during the quarter. Assetmark Inc.’s holdings in Roblox were worth $2,860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RBLX. Reyes Financial Architecture Inc. grew its holdings 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 buying an additional 194 shares in the last quarter. Hanson & Doremus Investment Management acquired a new position in shares of Roblox during the 1st quarter valued at about $25,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Roblox during the 4th quarter valued at about $27,000. GW&K Investment Management LLC grew its holdings in shares of Roblox by 76.3% in the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after purchasing an additional 161 shares during the period. Finally, Indiana Trust & Investment Management Co purchased a new stake in shares of Roblox in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Buying and Selling at Roblox

In other news, insider Mark Reinstra sold 4,512 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $57.34, for a total value of $258,718.08. Following the sale, the insider directly owned 422,248 shares in the company, valued at approximately $24,211,700.32. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sean Jack Buckley sold 4,744 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $46.36, for a total value of $219,931.84. Following the completion of the sale, the insider owned 97,141 shares in the company, valued at approximately $4,503,456.76. The trade was a 4.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 161,983 shares of company stock valued at $7,580,990. Insiders own 10.05% of the company’s stock.

Trending Headlines about Roblox

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Barclays reiterated its Hold rating on Roblox, which may help limit downside by signaling the stock still has some analyst support. Article: Barclays Sticks to Its Hold Rating for Roblox (RBLX)
• Neutral Sentiment: Roblox continues to attract attention around its new Build AI-powered creation tool, which could improve long-term user engagement and creation activity, but the impact on near-term earnings remains uncertain. Article: Roblox (RBLX) Unveiled Build, Is The Stock Fully Priced?
• Neutral Sentiment: The company is also expected to report earnings soon, keeping investors focused on upcoming fundamentals rather than just litigation headlines. Article: Roblox (RBLX) to Release Earnings on Thursday
• Negative Sentiment: Several law firms, including Rosen, Bernstein Liebhard, Pomerantz, Hagens Berman, Faruqi & Faruqi, and Robbins Geller, issued investor alerts tied to an expanded securities class action, reinforcing legal overhang on the stock. Article: RBLX DEADLINE NOTICE: ROSEN, SKILLED INVESTOR COUNSEL…
• Negative Sentiment: The class period in the lawsuit was expanded to cover a longer stretch of trading, which can broaden the pool of potential claimants and intensify investor concern. Article: RBLX INVESTOR ALERT: Roblox Corporation (RBLX) Investors with Substantial Losses…

Roblox Stock Down 4.2%

Shares of RBLX opened at $47.57 on Friday. The company’s 50-day simple moving average is $49.17 and its 200-day simple moving average is $58.04. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. Roblox Corporation has a 1 year low of $40.15 and a 1 year high of $150.59. The stock has a market capitalization of $31.95 billion, a PE ratio of -30.11 and a beta of 1.41.

Roblox (NYSE:RBLX) last announced its quarterly earnings data 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 net margin of 20.69% and a negative return on equity of 277.69%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. Analysts forecast that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.

Roblox announced that its Board of Directors has approved a share buyback plan on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RBLX. Needham & Company LLC initiated coverage on shares of Roblox in a research note on Monday, June 29th. They set a “buy” rating on the stock. HSBC downgraded shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a report on Friday, May 1st. Canaccord Genuity Group decreased their price objective on Roblox from $140.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Raymond James Financial started coverage on Roblox in a research report on Monday, June 29th. They issued a “market perform” rating for the company. Finally, Roth Capital set a $65.00 price target on Roblox in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.85.

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.