Vanguard Group Inc. Increases Stake in Roblox Co. (NYSE:RBLX)

Vanguard Group Inc. raised its holdings in shares of Roblox Co. (NYSE:RBLX) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,264,280 shares of the company’s stock after buying an additional 1,671,272 shares during the period. Vanguard Group Inc. owned about 7.96% of Roblox worth $2,115,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. boosted its position in shares of Roblox by 195.1% in the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after purchasing an additional 5,162,833 shares during the period. Morgan Stanley boosted its position in shares of Roblox by 13.7% in the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after purchasing an additional 4,927,848 shares during the period. Norges Bank bought a new position in shares of Roblox in the fourth quarter worth approximately $216,194,000. First Trust Advisors LP boosted its position in shares of Roblox by 836.1% in the fourth quarter. First Trust Advisors LP now owns 2,739,514 shares of the company’s stock worth $125,251,000 after purchasing an additional 2,446,867 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Roblox by 80.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,752,393 shares of the company’s stock worth $80,119,000 after purchasing an additional 779,808 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Performance

Shares of RBLX opened at $35.90 on Wednesday. Roblox Co. has a twelve month low of $24.88 and a twelve month high of $47.20. The company has a debt-to-equity ratio of 16.04, a current ratio of 1.07 and a quick ratio of 1.07. The company’s fifty day simple moving average is $35.17 and its 200-day simple moving average is $38.99.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The business had revenue of $923.76 million for the quarter, compared to the consensus estimate of $918.85 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities research analysts expect that Roblox Co. will post -1.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RBLX shares. Stifel Nicolaus reiterated a “buy” rating and issued a $53.00 price target on shares of Roblox in a research report on Monday, April 22nd. Morgan Stanley dropped their target price on shares of Roblox from $42.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company upped their target price on shares of Roblox from $37.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Roth Mkm restated a “neutral” rating and set a $35.00 target price (down previously from $55.00) on shares of Roblox in a research report on Tuesday, May 14th. Finally, Wedbush dropped their target price on shares of Roblox from $56.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

Insider Buying and Selling

In related news, CEO David Baszucki sold 166,666 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $35.12, for a total value of $5,853,309.92. Following the transaction, the chief executive officer now owns 142,260 shares of the company’s stock, valued at approximately $4,996,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO David Baszucki sold 166,666 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $35.12, for a total value of $5,853,309.92. Following the transaction, the chief executive officer now owns 142,260 shares of the company’s stock, valued at approximately $4,996,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea L. Wong sold 5,276 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $31.13, for a total transaction of $164,241.88. Following the completion of the transaction, the director now directly owns 26,319 shares in the company, valued at approximately $819,310.47. The disclosure for this sale can be found here. Insiders have sold 455,887 shares of company stock valued at $16,264,887 in the last 90 days. Company 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.