Commonwealth Equity Services LLC Sells 29,269 Shares of Roblox Corporation $RBLX

Commonwealth Equity Services LLC trimmed its position in shares of Roblox Corporation (NYSE:RBLXFree Report) by 40.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,331 shares of the company’s stock after selling 29,269 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Roblox were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RBLX. Norges Bank bought a new position in Roblox during the fourth quarter valued at $435,424,000. Vanguard Group Inc. grew its holdings in Roblox by 5.6% during the third quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock valued at $8,648,911,000 after purchasing an additional 3,284,073 shares during the period. Capital International Investors grew its holdings in Roblox by 7.3% during the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after purchasing an additional 2,184,439 shares during the period. BNP Paribas Financial Markets grew its holdings in Roblox by 99.5% during the fourth quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock valued at $273,693,000 after purchasing an additional 1,684,411 shares during the period. Finally, State Street Corp grew its holdings in Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock valued at $1,851,991,000 after purchasing an additional 1,326,575 shares during the period. 94.46% of the stock is owned by institutional investors.

Roblox Price Performance

Roblox stock opened at $42.30 on Tuesday. Roblox Corporation has a one year low of $40.15 and a one year high of $150.59. The business has a fifty day moving average price of $51.01 and a 200-day moving average price of $66.78. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $28.41 billion, a P/E ratio of -26.77 and a beta of 1.44.

Roblox (NYSE:RBLXGet Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned ($0.32) earnings per share. The business’s revenue for the quarter was up 43.4% on a year-over-year basis. As a group, equities research analysts forecast that Roblox Corporation will post -1.4 EPS for the current year.

Roblox announced that its Board of Directors has initiated a share buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Matthew D. Kaufman sold 14,356 shares of the stock in a transaction 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 sale, the insider owned 349,964 shares in the company, valued at approximately $15,842,870.28. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Jack Buckley sold 4,744 shares of the stock in a transaction on Friday, May 22nd. The stock was 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 $4,503,456.76. This trade represents a 4.66% decrease in their position. 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. Insiders have sold a total of 189,449 shares of company stock valued at $9,179,410 in the last ninety days. 10.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RBLX shares. The Goldman Sachs Group reduced their price objective on Roblox from $125.00 to $65.00 and set a “buy” rating for the company in a report on Friday, May 1st. HSBC lowered 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. UBS Group cut their price target on Roblox from $74.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Canaccord Genuity Group cut their price target on Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Wedbush lowered Roblox from a “hold” rating to a “neutral” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.07.

Check Out Our Latest Analysis on RBLX

Key Stories Impacting Roblox

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Roblox Company 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.

Further Reading

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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