Nomura Asset Management Co. Ltd. Raises Holdings in Roblox Corporation $RBLX

Nomura Asset Management Co. Ltd. increased its position in Roblox Corporation (NYSE:RBLX) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 183,430 shares of the company’s stock after buying an additional 12,990 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Roblox were worth $14,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in RBLX. Norges Bank purchased a new position in shares of Roblox in the 4th quarter worth $435,424,000. Vanguard Group Inc. raised its position in shares of Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after buying an additional 3,284,073 shares during the period. BNP Paribas Financial Markets raised its position in shares of Roblox by 99.5% in the 4th quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock worth $273,693,000 after buying an additional 1,684,411 shares during the period. State Street Corp raised its position in shares of Roblox by 11.0% in the 3rd quarter. State Street Corp now owns 13,369,844 shares of the company’s stock worth $1,851,991,000 after buying an additional 1,326,575 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Roblox by 342.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,551,456 shares of the company’s stock worth $125,714,000 after buying an additional 1,200,900 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Down 4.5%

Shares of NYSE RBLX opened at $44.88 on Wednesday. Roblox Corporation has a 1 year low of $40.15 and a 1 year high of $150.59. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of -28.41 and a beta of 1.44. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock’s 50-day simple moving average is $52.27 and its 200-day simple moving average is $68.85.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (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%.The company’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) earnings per share. As a group, equities analysts anticipate that Roblox Corporation will post -1.4 earnings per share for the current fiscal year.

Roblox declared that its board has approved a share buyback program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 50,628 shares of Roblox stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $2,292,435.84. Following the completion of the transaction, the chief executive officer directly owned 852,214 shares in the company, valued at approximately $38,588,249.92. This trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of Roblox stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $57.95, for a total value of $965,794.70. Following the completion of the transaction, the director owned 1,302,834 shares of the company’s stock, valued at $75,499,230.30. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 183,471 shares of company stock valued at $8,930,068. 10.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC assumed coverage on Roblox in a research report on Friday, May 1st. They issued a “buy” rating and a $60.00 price objective on the stock. Piper Sandler lowered Roblox from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $100.00 to $50.00 in a research report on Monday, May 4th. UBS Group cut their price objective on Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Wedbush lowered Roblox from a “hold” rating to a “neutral” rating in a research report on Friday, May 1st. Finally, Freedom Capital raised Roblox from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Roblox has an average rating of “Hold” and a consensus target price of $87.07.

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.