Roblox Co. (NYSE:RBLX) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its holdings in shares of Roblox Co. (NYSE:RBLX) by 32.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,277,835 shares of the company’s stock after selling 613,373 shares during the period. Nuveen Asset Management LLC’s holdings in Roblox were worth $73,936,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Colonial Trust Co SC purchased a new stake in shares of Roblox during the fourth quarter worth approximately $41,000. Parkside Financial Bank & Trust increased its position in shares of Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Roblox by 188.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 633 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Roblox by 2,955.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,222 shares of the company’s stock worth $71,000 after purchasing an additional 1,182 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the transaction, the chief executive officer now directly owns 221,983 shares of the company’s stock, valued at $16,024,952.77. This represents a 86.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anthony P. Lee sold 13,600 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $79.45, for a total value of $1,080,520.00. Following the completion of the sale, the director now directly owns 294,708 shares in the company, valued at approximately $23,414,550.60. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,358,232 shares of company stock valued at $161,232,273. 22.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RBLX. OTR Global upgraded Roblox from a “mixed” rating to a “positive” rating in a report on Monday, February 3rd. BMO Capital Markets restated an “outperform” rating on shares of Roblox in a report on Friday, May 2nd. Citigroup upped their target price on Roblox from $78.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Morgan Stanley dropped their target price on Roblox from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $72.00 target price (up from $65.00) on shares of Roblox in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.68.

Roblox Price Performance

Shares of NYSE:RBLX opened at $81.21 on Friday. Roblox Co. has a one year low of $31.59 and a one year high of $82.02. The stock has a fifty day moving average of $62.73 and a 200-day moving average of $60.80. The company has a market capitalization of $51.16 billion, a PE ratio of -56.00 and a beta of 1.46. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) earnings per share. As a group, equities analysts anticipate that Roblox Co. will post -1.49 EPS for the current fiscal year.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.