The Manufacturers Life Insurance Company Sells 13,945 Shares of Roblox Corporation $RBLX

The Manufacturers Life Insurance Company decreased its stake in shares of Roblox Corporation (NYSE:RBLX) by 28.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 35,598 shares of the company’s stock after selling 13,945 shares during the period. The Manufacturers Life Insurance Company’s holdings in Roblox were worth $2,013,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in Roblox during the fourth quarter worth approximately $435,424,000. SRS Investment Management LLC acquired a new position in shares of Roblox in the fourth quarter valued at approximately $238,065,000. Capital International Investors increased its stake in shares of Roblox by 7.3% during the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after purchasing an additional 2,184,439 shares during the period. ValueAct Holdings L.P. lifted its holdings in Roblox by 39.5% during the 4th quarter. ValueAct Holdings L.P. now owns 5,975,821 shares of the company’s stock worth $484,221,000 after purchasing an additional 1,692,600 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Roblox by 99.5% in the 4th quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock valued at $273,693,000 after purchasing an additional 1,684,411 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the topic of several recent research reports. HSBC cut Roblox from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research report on Friday, May 1st. UBS Group set a $33.00 price objective on shares of Roblox in a research note on Friday, July 31st. Cantor Fitzgerald started coverage on shares of Roblox in a research report on Monday, June 29th. They set an “overweight” rating on the stock. Needham & Company LLC lowered their target price on shares of Roblox from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, Bank of America downgraded shares of Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.89.

Roblox Trading Up 0.1%

RBLX opened at $37.84 on Monday. The stock has a market capitalization of $25.35 billion, a price-to-earnings ratio of -26.46 and a beta of 1.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00. The company has a 50-day simple moving average of $48.28 and a 200 day simple moving average of $55.08.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm earned ($0.41) EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Roblox

In other Roblox news, insider Matthew D. Kaufman sold 14,356 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total transaction of $649,896.12. Following the completion of the sale, the insider directly owned 349,964 shares in the company, valued at $15,842,870.28. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $57.69, for a total value of $961,461.54. Following the sale, the director owned 1,277,835 shares of the company’s stock, valued at $73,718,301.15. The trade was a 1.29% 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. Over the last quarter, insiders sold 161,983 shares of company stock valued at $7,455,828. 10.05% of the stock is currently owned by 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.