Bank of New York Mellon Corp boosted its position in Roblox Co. (NYSE:RBLX – Get Rating) by 56.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,516,080 shares of the company's stock after acquiring an additional 549,233 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of Roblox worth $54,337,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in RBLX. Renaissance Technologies LLC raised its holdings in Roblox by 161.0% in the second quarter. Renaissance Technologies LLC now owns 11,580,582 shares of the company's stock valued at $380,538,000 after acquiring an additional 7,143,300 shares in the last quarter. Vanguard Group Inc. raised its holdings in Roblox by 29.2% during the third quarter. Vanguard Group Inc. now owns 28,303,428 shares of the company's stock worth $1,014,396,000 after purchasing an additional 6,396,902 shares in the last quarter. State Street Corp raised its holdings in Roblox by 2,473.0% during the second quarter. State Street Corp now owns 6,586,856 shares of the company's stock worth $216,444,000 after purchasing an additional 6,330,861 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Roblox by 41.4% during the third quarter. Baillie Gifford & Co. now owns 20,906,989 shares of the company's stock worth $749,306,000 after purchasing an additional 6,123,973 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Roblox by 46.2% during the third quarter. BlackRock Inc. now owns 18,567,578 shares of the company's stock worth $665,464,000 after purchasing an additional 5,870,164 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company's stock.
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Insider Activity at Roblox
In related news, insider Mark Reinstra sold 12,500 shares of the business's stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $36.99, for a total value of $462,375.00. Following the completion of the transaction, the insider now owns 231,990 shares of the company's stock, valued at approximately $8,581,310.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amy Marie Rawlings sold 3,178 shares of the company's stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $37.85, for a total transaction of $120,287.30. Following the completion of the transaction, the chief accounting officer now owns 90,745 shares of the company's stock, valued at approximately $3,434,698.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark Reinstra sold 12,500 shares of the company's stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $36.99, for a total transaction of $462,375.00. Following the transaction, the insider now directly owns 231,990 shares of the company's stock, valued at approximately $8,581,310.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 622,713 shares of company stock valued at $23,758,176. 28.22% of the stock is owned by insiders.
Roblox Trading Down 1.8 %
NYSE:RBLX opened at $42.07 on Friday. The company has a market capitalization of $23.30 billion, a PE ratio of -27.14 and a beta of 1.72. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 3.24. Roblox Co. has a 52-week low of $21.65 and a 52-week high of $53.88. The stock has a fifty day simple moving average of $38.80 and a 200-day simple moving average of $36.58.
Roblox (NYSE:RBLX – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.07. The business had revenue of $899.40 million during the quarter, compared to the consensus estimate of $884.71 million. Roblox had a negative return on equity of 200.01% and a negative net margin of 41.54%. The business's revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.25) EPS. On average, equities research analysts expect that Roblox Co. will post -1.84 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on RBLX. Jefferies Financial Group raised shares of Roblox from a "hold" rating to a "buy" rating and raised their price objective for the stock from $30.00 to $48.00 in a report on Friday, March 10th. Wolfe Research cut shares of Roblox from a "market perform" rating to an "underperform" rating and set a $24.00 price objective on the stock. in a report on Wednesday, December 21st. Stifel Nicolaus lowered their target price on shares of Roblox from $44.00 to $40.00 in a research report on Tuesday, January 10th. Needham & Company LLC raised their target price on shares of Roblox from $42.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, February 16th. Finally, Credit Suisse Group raised their target price on shares of Roblox from $37.00 to $42.00 and gave the stock a "hold" rating in a research report on Thursday, February 16th. Seven investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $37.75.
Roblox Profile
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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.