82,841 Shares in Roblox Corporation $RBLX Acquired by Deepwater Asset Management LLC

Deepwater Asset Management LLC bought a new position in Roblox Corporation (NYSE:RBLX) during the fourth quarter, Holdings Channel.com reports. The fund bought 82,841 shares of the company’s stock, valued at approximately $6,713,000. Roblox accounts for approximately 2.0% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in RBLX. Norges Bank bought a new stake in shares of Roblox in the 4th quarter worth approximately $435,424,000. Vanguard Group Inc. raised its holdings in shares of Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after purchasing an additional 3,284,073 shares in the last quarter. Capital International Investors raised its holdings in shares of Roblox by 7.3% in the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after purchasing an additional 2,184,439 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Roblox by 99.5% during the fourth quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock valued at $273,693,000 after acquiring an additional 1,684,411 shares during the period. Finally, State Street Corp raised its holdings in shares of Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock valued at $1,851,991,000 after acquiring an additional 1,326,575 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Roblox Stock Up 0.2%

Roblox stock opened at $41.92 on Monday. The firm has a market cap of $28.15 billion, a PE ratio of -26.53 and a beta of 1.44. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day moving average price is $51.24 and its two-hundred day moving average price is $67.20. Roblox Corporation has a twelve month low of $40.15 and a twelve month high of $150.59.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The company’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) EPS. On average, research analysts predict that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox announced that its board has approved a stock buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RBLX shares. Raymond James Financial lowered shares of Roblox from an “outperform” rating to a “market perform” rating in a report on Friday, May 1st. Oppenheimer started coverage on shares of Roblox in a report on Friday, May 1st. They set an “outperform” rating on the stock. Wolfe Research started coverage on shares of Roblox in a report on Friday, May 1st. They set an “outperform” rating on the stock. Roth Mkm set a $65.00 price target on shares of Roblox in a report on Tuesday, May 5th. Finally, Jefferies Financial Group lowered shares of Roblox from a “hold” rating to a “hold” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.07.

Insider Buying and Selling

In other Roblox news, insider Sean Jack Buckley sold 4,744 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $46.36, for a total value of $219,931.84. Following the completion of the sale, the insider directly owned 97,141 shares of the company’s stock, valued at $4,503,456.76. The trade was a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 5,460 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $46.40, for a total transaction of $253,344.00. Following the completion of the sale, the insider directly owned 432,738 shares of the company’s stock, valued at $20,079,043.20. This represents a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 183,471 shares of company stock valued at $8,930,068. 10.05% of the stock is owned by company insiders.

Roblox Company Profile

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.