Intech Investment Management LLC Has $5.90 Million Stock Position in Roblox Corporation $RBLX

Intech Investment Management LLC lowered its stake in Roblox Corporation (NYSE:RBLX) by 65.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,779 shares of the company’s stock after selling 140,536 shares during the quarter. Intech Investment Management LLC’s holdings in Roblox were worth $5,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RBLX. Vanguard Group Inc. grew its holdings in Roblox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after purchasing an additional 1,020,786 shares during the period. State Street Corp grew its holdings in Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock worth $1,851,991,000 after purchasing an additional 1,326,575 shares during the period. Geode Capital Management LLC grew its holdings in Roblox by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after purchasing an additional 547,103 shares during the period. AQR Capital Management LLC grew its holdings in Roblox by 7.4% during the third quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company’s stock worth $1,310,719,000 after purchasing an additional 665,127 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Roblox by 9.8% during the third quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company’s stock worth $964,611,000 after purchasing an additional 619,048 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Activity at Roblox

In other news, insider Sean Jack Buckley sold 4,744 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.36, for a total transaction of $219,931.84. Following the completion of the sale, the insider owned 97,141 shares in the company, valued at $4,503,456.76. The trade was a 4.66% decrease in their ownership of the stock. The sale 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 Matthew D. Kaufman sold 14,356 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total value of $649,896.12. Following the completion of the sale, the insider owned 349,964 shares of the company’s stock, valued at approximately $15,842,870.28. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 183,471 shares of company stock valued at $8,930,068. Insiders own 10.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup reduced their price target on Roblox from $90.00 to $70.00 and set a “buy” rating for the company in a report on Monday, May 4th. Barclays reduced their price target on Roblox from $115.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Oppenheimer assumed coverage on Roblox in a report on Friday, May 1st. They set an “outperform” rating for the company. TD Cowen upgraded Roblox from a “sell” rating to a “hold” rating and reduced their price target for the stock from $54.00 to $49.00 in a report on Friday, May 1st. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Roblox in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $87.07.

Roblox Trading Up 0.6%

Shares of NYSE:RBLX opened at $47.10 on Friday. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59. The stock has a market cap of $31.63 billion, a PE ratio of -29.81 and a beta of 1.50. The business has a 50 day moving average of $52.48 and a 200-day moving average of $69.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.45.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The business’s revenue was up 43.4% on a year-over-year basis. As a group, equities research analysts forecast that Roblox Corporation will post -1.4 earnings per share for the current year.

Roblox declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 9.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.