Glynn Capital Management LLC Acquires Shares of 70,419 Roblox Corporation $RBLX

Glynn Capital Management LLC acquired a new stake in Roblox Corporation (NYSE:RBLX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 70,419 shares of the company’s stock, valued at approximately $5,706,000. Roblox accounts for about 2.0% of Glynn Capital Management LLC’s portfolio, making the stock its 19th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in RBLX. Northwestern Mutual Wealth Management Co. boosted its position in shares of Roblox by 37.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 11,629 shares of the company’s stock valued at $942,000 after buying an additional 3,171 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Roblox during the fourth quarter valued at approximately $5,995,000. Huntington National Bank boosted its position in shares of Roblox by 73.9% during the fourth quarter. Huntington National Bank now owns 734 shares of the company’s stock valued at $59,000 after buying an additional 312 shares during the last quarter. Arista Wealth Management LLC purchased a new position in shares of Roblox during the fourth quarter valued at approximately $324,000. Finally, Geode Capital Management LLC boosted its position in shares of Roblox by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock valued at $988,002,000 after buying an additional 547,103 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on RBLX shares. HSBC cut Roblox from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a research report on Friday, May 1st. BMO Capital Markets reaffirmed an “outperform” rating on shares of Roblox in a research report on Friday, February 6th. Barclays cut their target price on Roblox from $115.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Bank of America cut Roblox from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research report on Friday, May 1st. Finally, Wolfe Research started coverage on Roblox in a research report on Friday, May 1st. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.07.

Roblox Stock Performance

Shares of Roblox stock opened at $46.86 on Friday. The business’s fifty day simple moving average is $52.70 and its 200 day simple moving average is $69.67. The firm has a market capitalization of $31.47 billion, a P/E ratio of -29.66 and a beta of 1.50. Roblox Corporation has a 12 month low of $40.15 and a 12 month high of $150.59. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45.

Roblox (NYSE:RBLX) last issued 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. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.74 billion. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.Roblox’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same period last year, the company posted ($0.32) earnings per share. As a group, analysts anticipate that Roblox Corporation will post -1.4 EPS for the current year.

Roblox announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Roblox

In related news, insider Sean Jack Buckley sold 4,744 shares of Roblox stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.36, for a total transaction of $219,931.84. Following the sale, the insider directly owned 97,141 shares in the company, valued at approximately $4,503,456.76. This trade represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Baszucki sold 50,628 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total value of $2,292,435.84. Following the completion of the sale, the chief executive officer owned 852,214 shares in the company, valued at approximately $38,588,249.92. The trade was a 5.61% 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 183,471 shares of company stock valued at $8,930,068 in the last ninety days. 10.05% of the stock is owned by corporate insiders.

Roblox 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.