Hsbc Holdings PLC Sells 7,209 Shares of Roblox Co. (NYSE:RBLX)

Hsbc Holdings PLC cut its holdings in Roblox Co. (NYSE:RBLX) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,234 shares of the company’s stock after selling 7,209 shares during the period. Hsbc Holdings PLC’s holdings in Roblox were worth $6,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RBLX. DekaBank Deutsche Girozentrale raised its stake in shares of Roblox by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after buying an additional 1,419 shares during the period. Kodai Capital Management LP purchased a new stake in shares of Roblox in the fourth quarter worth $6,805,000. SteelPeak Wealth LLC raised its position in shares of Roblox by 41.4% during the 1st quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company’s stock valued at $423,000 after purchasing an additional 3,247 shares during the period. Sei Investments Co. lifted its stake in shares of Roblox by 18.3% during the 1st quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock valued at $11,000,000 after buying an additional 44,557 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Roblox by 319.6% in the first quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock valued at $1,075,000 after acquiring an additional 21,533 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Trading Down 1.1 %

Shares of RBLX opened at $45.53 on Tuesday. Roblox Co. has a twelve month low of $24.88 and a twelve month high of $47.49. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The company’s fifty day simple moving average is $41.83 and its 200-day simple moving average is $38.35. The company has a market cap of $26.92 billion, a P/E ratio of -24.48 and a beta of 1.60.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. The business had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.46) earnings per share. As a group, analysts expect that Roblox Co. will post -1.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Macquarie upped their price target on Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Jefferies Financial Group assumed coverage on shares of Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Benchmark lifted their price target on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BTIG Research increased their price objective on shares of Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $56.00 price objective on shares of Roblox in a research report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.40.

Insider Activity at Roblox

In other news, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares in the company, valued at $13,706,240. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Roblox news, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the sale, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 166,666 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.56, for a total value of $7,593,302.96. Following the transaction, the chief executive officer now directly owns 135,755 shares in the company, valued at approximately $6,184,997.80. The disclosure for this sale can be found here. Insiders sold a total of 775,341 shares of company stock worth $33,004,226 in the last quarter. 22.15% of the stock is owned by company insiders.

Roblox Profile

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.