Nomura Asset Management Co. Ltd. Raises Holdings in Roblox Corporation $RBLX

Nomura Asset Management Co. Ltd. increased its position in Roblox Corporation (NYSE:RBLX) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,430 shares of the company’s stock after acquiring an additional 12,990 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Roblox were worth $14,863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AXS Investments LLC grew its holdings in shares of Roblox by 3.7% in the 4th quarter. AXS Investments LLC now owns 8,930 shares of the company’s stock worth $724,000 after acquiring an additional 320 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Roblox by 99.5% in the 4th quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock worth $273,693,000 after acquiring an additional 1,684,411 shares during the period. Gulf International Bank UK Ltd grew its holdings in shares of Roblox by 3.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 29,645 shares of the company’s stock worth $2,402,000 after acquiring an additional 934 shares during the period. Impact Partnership Wealth LLC grew its holdings in shares of Roblox by 58.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 4,438 shares of the company’s stock worth $360,000 after acquiring an additional 1,640 shares during the period. Finally, Forsta AP Fonden grew its holdings in shares of Roblox by 1.3% in the 4th quarter. Forsta AP Fonden now owns 123,900 shares of the company’s stock worth $10,040,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

Shares of NYSE:RBLX opened at $44.88 on Wednesday. The business’s fifty day moving average price is $52.27 and its two-hundred day moving average price is $68.85. The stock has a market cap of $30.14 billion, a PE ratio of -28.41 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. Roblox Corporation has a one year low of $40.15 and a one year high of $150.59.

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

Roblox declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Raymond James Financial cut Roblox from an “outperform” rating to a “market perform” rating in a report on Friday, May 1st. Jefferies Financial Group cut Roblox from a “hold” rating to a “hold” rating in a report on Friday, May 1st. Oppenheimer assumed coverage on Roblox in a report on Friday, May 1st. They issued an “outperform” rating on the stock. Morgan Stanley restated an “overweight” rating and issued a $62.00 price target on shares of Roblox in a report on Friday, May 1st. Finally, Roth Mkm set a $65.00 target price on Roblox in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.07.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 50,628 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the transaction, the chief executive officer owned 852,214 shares of the company’s stock, valued at $38,588,249.92. This represents a 5.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen K. Chopra sold 16,863 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $763,556.64. Following the transaction, the chief financial officer directly owned 380,758 shares in the company, valued at approximately $17,240,722.24. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. 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 worth $8,930,068. Company insiders own 10.05% of the company’s stock.

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.