Roblox Corporation $RBLX Shares Sold by Quantitative Investment Management LLC

Quantitative Investment Management LLC lessened its stake in shares of Roblox Corporation (NYSE:RBLX) by 78.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,327 shares of the company’s stock after selling 76,947 shares during the quarter. Quantitative Investment Management LLC’s holdings in Roblox were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its stake in Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after purchasing an additional 105 shares during the last quarter. Horizon Investments LLC boosted its stake in Roblox by 2,636.4% in the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company’s stock worth $42,000 after buying an additional 290 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in Roblox in the 4th quarter valued at about $27,000. GW&K Investment Management LLC grew its holdings in Roblox by 76.3% in the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Roblox during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Stock Performance

Shares of RBLX opened at $41.32 on Tuesday. The firm has a market cap of $27.68 billion, a price-to-earnings ratio of -28.90 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. The business’s 50 day moving average is $45.92 and its two-hundred day moving average is $51.39. Roblox Corporation has a 52-week low of $33.88 and a 52-week high of $142.00.

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

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

Insider Activity

In other Roblox news, CEO David Baszucki sold 52,568 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $1,995,481.28. Following the completion of the transaction, the chief executive officer directly owned 799,646 shares of the company’s stock, valued at $30,354,562.16. This trade represents a 6.17% decrease in their position. The sale was disclosed in a legal filing 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 business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $37.46, for a total transaction of $624,308.36. Following the completion of the sale, the director directly owned 1,269,502 shares of the company’s stock, valued at $47,555,544.92. The trade was a 1.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 168,213 shares of company stock worth $6,831,901 over the last ninety days. Insiders own 10.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RBLX shares. Arete Research set a $95.00 price target on shares of Roblox and gave the stock a “buy” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Roblox in a research note on Wednesday, June 24th. Piper Sandler restated a “neutral” rating and set a $47.00 price objective (down from $50.00) on shares of Roblox in a report on Friday, July 31st. Benchmark lowered Roblox from a “hold” rating to a “sell” rating and set a $33.00 target price on the stock. in a research report on Friday, July 31st. Finally, Raymond James Financial initiated coverage on Roblox in a report on Monday, June 29th. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.89.

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.