Motley Fool Asset Management LLC raised its holdings in Roblox Corporation (NYSE:RBLX – Free Report) by 37.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,776 shares of the company’s stock after acquiring an additional 17,939 shares during the period. Motley Fool Asset Management LLC’s holdings in Roblox were worth $5,330,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of RBLX. NewEdge Advisors LLC raised its holdings in shares of Roblox by 2.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock valued at $597,000 after acquiring an additional 231 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Roblox by 70.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock valued at $1,368,000 after acquiring an additional 5,363 shares in the last quarter. CW Advisors LLC purchased a new stake in shares of Roblox in the 2nd quarter valued at about $272,000. Baird Financial Group Inc. raised its holdings in shares of Roblox by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after acquiring an additional 102 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Roblox in the 2nd quarter valued at about $438,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.
Insider Buying and Selling at Roblox
In related news, CFO Naveen K. Chopra sold 16,863 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $763,556.64. Following the transaction, the chief financial officer directly owned 380,758 shares in the company, valued at $17,240,722.24. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,356 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the transaction, the insider owned 349,964 shares in the company, valued at approximately $15,842,870.28. The trade was a 3.94% decrease in their ownership of the stock. 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 189,449 shares of company stock worth $9,179,410 over the last quarter. Company insiders own 10.05% of the company’s stock.
Roblox Price Performance
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, topping 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned ($0.32) EPS. Roblox’s revenue for the quarter was up 43.4% compared to the same quarter last year. As a group, analysts predict that Roblox Corporation will post -1.4 earnings per share for the current year.
Roblox announced that its board has authorized a stock 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Key Stories Impacting Roblox
Here are the key news stories impacting Roblox this week:
- Positive Sentiment: Russia’s digital ministry moved to help lift the Roblox ban, potentially reopening access in a large market if the company meets local safety and compliance demands. Russian ministry requests lifting of Roblox ban
- Neutral Sentiment: Insider Mark Reinstra sold 5,978 shares under a pre-arranged 10b5-1 plan, which is worth watching but does not necessarily signal a change in fundamentals.
- Negative Sentiment: Multiple law firms, including Rosen, Pomerantz, Robbins, Faruqi & Faruqi, Levi & Korsinsky, and others, are promoting a securities class action against Roblox, keeping legal risk and headline pressure elevated. Rosen Law Firm Urges Roblox Corporation (NYSE: RBLX) Stockholders with Large Losses to Contact the Firm for Information About Their Rights
Analyst Ratings Changes
Several research firms have weighed in on RBLX. BTIG Research cut Roblox from a “buy” rating to a “neutral” rating in a report on Friday, May 1st. Wall Street Zen cut Roblox from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Wells Fargo & Company reduced their price objective on Roblox from $97.00 to $78.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Jefferies Financial Group lowered Roblox from a “hold” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Roth Mkm set a $65.00 price objective on Roblox in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $87.07.
Check Out Our Latest Report on Roblox
Roblox Profile
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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