Roblox Co. (NYSE:RBLX) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Roblox Co. (NYSE:RBLX) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,024,600 shares of the company’s stock after selling 960,217 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.49% of Roblox worth $399,429,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Roblox by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after acquiring an additional 4,818,022 shares during the last quarter. Baillie Gifford & Co. raised its stake in Roblox by 1.9% during the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after purchasing an additional 535,414 shares during the period. ARK Investment Management LLC grew its stake in shares of Roblox by 12.9% during the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after buying an additional 1,519,591 shares during the period. Ieq Capital LLC increased its holdings in shares of Roblox by 27.6% during the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after buying an additional 2,684,713 shares during the last quarter. Finally, Dragoneer Investment Group LLC boosted its holdings in Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James lifted their price objective on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 31st. Piper Sandler raised their target price on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their target price on Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. The Goldman Sachs Group lifted their price objective on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Macquarie increased their target price on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and an average target price of $55.30.

Roblox Trading Up 4.1 %

Shares of Roblox stock opened at $54.56 on Tuesday. The business has a fifty day simple moving average of $44.68 and a 200-day simple moving average of $40.09. The firm has a market cap of $33.15 billion, a price-to-earnings ratio of -33.27 and a beta of 1.56. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $55.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.45) earnings per share. On average, equities analysts forecast that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Arvind Chakravarthy sold 592 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the sale, the insider now directly owns 276,892 shares in the company, valued at approximately $11,994,961.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at $4,817,179.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,029,373 shares of company stock valued at $46,476,179 over the last ninety days. Corporate insiders own 22.15% of the company’s stock.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.