Saudi Central Bank Acquires 19,929 Shares of Roblox Corporation $RBLX

Saudi Central Bank lifted its holdings in shares of Roblox Corporation (NYSE:RBLXFree Report) by 91.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,683 shares of the company’s stock after acquiring an additional 19,929 shares during the quarter. Saudi Central Bank’s holdings in Roblox were worth $2,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors boosted its holdings in Roblox by 7.3% in the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after acquiring an additional 2,184,439 shares in the last quarter. Morgan Stanley raised its holdings in Roblox by 8.1% in the 4th quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock worth $1,679,664,000 after purchasing an additional 1,555,549 shares in the last quarter. State Street Corp raised its holdings in Roblox by 3.3% in the 4th quarter. State Street Corp now owns 13,812,362 shares of the company’s stock worth $1,119,216,000 after purchasing an additional 442,518 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Roblox by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after purchasing an additional 547,103 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Roblox by 6.3% during the 4th quarter. AQR Capital Management LLC now owns 10,312,837 shares of the company’s stock valued at $832,968,000 after purchasing an additional 615,299 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Trading Down 0.2%

Roblox stock opened at $43.21 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. The business’s fifty day simple moving average is $45.24 and its two-hundred day simple moving average is $50.60. Roblox Corporation has a 12 month low of $33.88 and a 12 month high of $142.00. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of -30.22 and a beta of 1.47.

Roblox (NYSE:RBLXGet Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.08. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned ($0.41) earnings per share. As a group, equities analysts predict that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.

Roblox declared that its board has initiated a stock repurchase plan on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Roblox

In other Roblox news, Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $40.47, for a total transaction of $674,473.02. Following the completion of the sale, the director directly owned 1,261,169 shares in the company, valued at approximately $51,039,509.43. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Baszucki sold 52,568 shares of Roblox stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $1,995,481.28. Following the completion of the transaction, the chief executive officer directly owned 799,646 shares of the company’s stock, valued at $30,354,562.16. This trade represents a 6.17% 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 a total of 179,463 shares of company stock worth $7,280,012 in the last ninety days. 10.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RBLX. BMO Capital Markets cut shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 price target on the stock. in a research report on Friday, July 31st. Arete Research set a $95.00 price objective on shares of Roblox and gave the stock a “buy” rating in a report on Monday, June 29th. Needham & Company LLC cut their price objective on Roblox from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. B. Riley Financial reduced their target price on Roblox from $80.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Canaccord Genuity Group set a $58.00 target price on Roblox in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.89.

View Our Latest Stock Analysis on Roblox

Roblox 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.

See Also

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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