Van ECK Associates Corp Has $69.58 Million Stake in Roblox Corporation $RBLX

Van ECK Associates Corp lowered its holdings in Roblox Corporation (NYSE:RBLX) by 49.0% in the third quarter, HoldingsChannel.com reports. The firm owned 502,276 shares of the company’s stock after selling 483,162 shares during the quarter. Van ECK Associates Corp’s holdings in Roblox were worth $69,575,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. WPG Advisers LLC increased its holdings in shares of Roblox by 17.8% during the third quarter. WPG Advisers LLC now owns 555 shares of the company’s stock worth $77,000 after purchasing an additional 84 shares during the period. Baird Financial Group Inc. increased its stake in Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after acquiring an additional 102 shares during the period. Lido Advisors LLC raised its holdings in Roblox by 1.3% in the 2nd quarter. Lido Advisors LLC now owns 8,529 shares of the company’s stock valued at $897,000 after acquiring an additional 106 shares in the last quarter. QTR Family Wealth LLC lifted its position in shares of Roblox by 2.6% during the 3rd quarter. QTR Family Wealth LLC now owns 4,446 shares of the company’s stock valued at $616,000 after acquiring an additional 111 shares during the period. Finally, Perpetual Ltd grew its holdings in shares of Roblox by 0.6% during the 3rd quarter. Perpetual Ltd now owns 19,043 shares of the company’s stock worth $2,638,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Trading Down 6.2%

Shares of NYSE RBLX opened at $58.76 on Wednesday. The firm has a 50 day moving average price of $71.25 and a two-hundred day moving average price of $98.66. The stock has a market cap of $38.88 billion, a P/E ratio of -37.91 and a beta of 1.62. Roblox Corporation has a 52-week low of $50.10 and a 52-week high of $150.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Roblox’s revenue was up 122.6% compared to the same quarter last year. As a group, equities analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Mark Reinstra sold 60,000 shares of Roblox stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the transaction, the insider directly owned 394,322 shares of the company’s stock, valued at approximately $25,212,948.68. The trade was a 13.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 272,269 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total value of $19,783,065.54. Following the completion of the sale, the chief executive officer directly owned 811,373 shares of the company’s stock, valued at approximately $58,954,362.18. The trade was a 25.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 703,144 shares of company stock worth $51,681,640 over the last 90 days. Company insiders own 12.92% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Monday, December 29th. Benchmark restated a “hold” rating on shares of Roblox in a research report on Monday, February 2nd. Needham & Company LLC cut their price target on shares of Roblox from $159.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 6th. B. Riley Financial initiated coverage on shares of Roblox in a research report on Tuesday, December 9th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of Roblox in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.35.

About Roblox

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.