Mackenzie Financial Corp Acquires 226,273 Shares of Roblox Corporation $RBLX

Mackenzie Financial Corp increased its stake in Roblox Corporation (NYSE:RBLX) by 584.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 264,992 shares of the company’s stock after acquiring an additional 226,273 shares during the period. Mackenzie Financial Corp’s holdings in Roblox were worth $36,707,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Roblox in the 3rd quarter valued at approximately $26,000. Total Investment Management Inc. bought a new position in shares of Roblox during the 2nd quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Roblox during the 3rd quarter valued at $37,000. Root Financial Partners LLC purchased a new stake in Roblox during the 3rd quarter valued at $38,000. Finally, Salomon & Ludwin LLC bought a new stake in Roblox in the third quarter worth $41,000. 94.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 272,269 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the transaction, the chief executive officer directly owned 811,373 shares in the company, valued at $58,954,362.18. This trade represents a 25.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Arvind Chakravarthy sold 40,646 shares of Roblox stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. The disclosure for this sale is available in the SEC filing. Insiders have sold 703,144 shares of company stock valued at $51,681,640 over the last 90 days. 12.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBLX. DA Davidson began coverage on shares of Roblox in a research note on Wednesday, March 4th. They set a “neutral” rating and a $65.00 price objective for the company. Wall Street Zen lowered shares of Roblox from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. TD Cowen reaffirmed a “sell” rating on shares of Roblox in a research note on Tuesday, January 27th. JPMorgan Chase & Co. cut their price target on shares of Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Finally, UBS Group set a $74.00 price objective on shares of Roblox in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average target price of $117.35.

Roblox Trading Down 6.7%

Shares of RBLX opened at $56.33 on Friday. The firm has a market capitalization of $37.27 billion, a price-to-earnings ratio of -36.34 and a beta of 1.62. 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 Corporation has a 1-year low of $50.10 and a 1-year high of $150.59. The company has a 50-day moving average of $70.34 and a 200 day moving average of $98.10.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the firm earned ($0.33) EPS. The company’s revenue for the quarter was up 122.6% compared to the same quarter last year. On average, research analysts expect that Roblox Corporation will post -1.49 EPS for the current year.

Roblox Company Profile

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.