Legal & General Group Plc Raises Position in Roblox Corporation $RBLX

Legal & General Group Plc grew its stake in Roblox Corporation (NYSE:RBLX) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,680,271 shares of the company’s stock after purchasing an additional 285,524 shares during the period. Legal & General Group Plc’s holdings in Roblox were worth $371,271,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. National Pension Service increased its position in Roblox by 7.3% during the third quarter. National Pension Service now owns 1,697,820 shares of the company’s stock valued at $235,182,000 after acquiring an additional 115,096 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Roblox by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock worth $6,222,993,000 after acquiring an additional 1,513,608 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Roblox by 298.4% during the 3rd quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock worth $45,617,000 after purchasing an additional 246,652 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Roblox during the 2nd quarter worth about $120,041,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Roblox during the 3rd quarter valued at about $2,895,000. Institutional investors own 94.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anthony P. Lee sold 7,000 shares of Roblox stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $82.45, for a total value of $577,150.00. Following the completion of the sale, the director directly owned 256,768 shares in the company, valued at $21,170,521.60. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 10,834 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $61.63, for a total transaction of $667,699.42. Following the completion of the sale, the chief executive officer directly owned 800,539 shares of the company’s stock, valued at approximately $49,337,218.57. This trade represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is owned by company insiders.

Roblox Price Performance

Shares of RBLX stock opened at $60.42 on Thursday. The company has a market capitalization of $39.98 billion, a P/E ratio of -38.98 and a beta of 1.62. The company’s 50-day simple moving average is $70.84 and its two-hundred day simple moving average is $98.39. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. The company’s revenue was up 122.6% on a year-over-year basis. As a group, equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. DA Davidson began coverage on shares of Roblox in a research note on Wednesday, March 4th. They issued a “neutral” rating and a $65.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a report on Monday, December 29th. Freedom Capital raised Roblox from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. B. Riley Financial began coverage on Roblox in a report on Tuesday, December 9th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Citigroup cut their price objective on Roblox from $152.00 to $119.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average target price of $117.35.

About Roblox

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.