Legal & General Group Plc Grows Stock Holdings in Roblox Corporation $RBLX

Legal & General Group Plc boosted its holdings in Roblox Corporation (NYSE:RBLX) by 11.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,680,271 shares of the company’s stock after buying an additional 285,524 shares during the period. Legal & General Group Plc owned 0.41% of Roblox worth $371,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RBLX. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Roblox in the third quarter valued at about $26,000. Total Investment Management Inc. purchased a new stake in shares of Roblox during the second quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Roblox during the 3rd quarter valued at approximately $37,000. Root Financial Partners LLC bought a new stake in Roblox during the 3rd quarter valued at approximately $38,000. Finally, Salomon & Ludwin LLC purchased a new position in Roblox in the 3rd quarter worth approximately $41,000. 94.46% of the stock is owned by institutional investors.

Roblox Stock Performance

NYSE:RBLX opened at $60.42 on Thursday. The company has a market cap of $39.98 billion, a price-to-earnings ratio of -38.98 and a beta of 1.62. Roblox Corporation has a 1 year low of $50.10 and a 1 year high of $150.59. The stock’s 50 day simple moving average is $70.84 and its two-hundred day simple moving average is $98.39. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96.

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

Insider Buying and Selling at Roblox

In other news, insider Mark Reinstra sold 60,000 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $63.94, for a total value of $3,836,400.00. Following the sale, the insider directly owned 394,322 shares in the company, valued at $25,212,948.68. The trade was a 13.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Baszucki sold 272,269 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the sale, the chief executive officer owned 811,373 shares in the company, valued at $58,954,362.18. This represents a 25.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 703,144 shares of company stock valued at $51,681,640 over the last ninety days. Corporate insiders own 12.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Roth Mkm upgraded Roblox from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.00 to $84.00 in a research note on Monday, February 9th. Jefferies Financial Group set a $85.00 price objective on shares of Roblox in a research report on Thursday, January 15th. JPMorgan Chase & Co. dropped their target price on shares of Roblox from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Barclays cut their target price on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Finally, Wells Fargo & Company set a $97.00 price target on shares of Roblox in a report on Monday, February 9th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average target price 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.