Rakuten Investment Management Inc. Takes $1.83 Million Position in Roblox Corporation $RBLX

Rakuten Investment Management Inc. purchased a new stake in shares of Roblox Corporation (NYSE:RBLX) during the 3rd quarter, Holdings Channel reports. The fund purchased 13,193 shares of the company’s stock, valued at approximately $1,827,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Total Investment Management Inc. purchased a new stake in shares of Roblox in the second quarter valued at $29,000. ORG Partners LLC purchased a new position in shares of Roblox during the 2nd quarter worth about $33,000. Whipplewood Advisors LLC bought a new position in Roblox during the 2nd quarter valued at about $34,000. Root Financial Partners LLC purchased a new stake in Roblox in the 3rd quarter worth about $38,000. Finally, Generali Asset Management SPA SGR bought a new stake in Roblox in the second quarter worth about $40,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Roblox news, CFO Naveen K. Chopra sold 19,424 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the completion of the sale, the chief financial officer owned 337,036 shares in the company, valued at $32,095,938.28. This represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $104.07, for a total value of $6,868,620.00. Following the sale, the director directly owned 266,008 shares in the company, valued at $27,683,452.56. This trade represents a 19.88% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 504,300 shares of company stock valued at $46,290,436. 12.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RBLX shares. Jefferies Financial Group set a $85.00 price target on Roblox in a report on Thursday, January 15th. Morgan Stanley cut their price objective on Roblox from $170.00 to $155.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Oppenheimer reiterated an “outperform” rating and set a $150.00 target price on shares of Roblox in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Roblox from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $165.00 price objective (up previously from $155.00) on shares of Roblox in a report on Tuesday, October 14th. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.23.

Roblox Stock Performance

Shares of Roblox stock opened at $74.18 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54. The stock’s fifty day moving average price is $86.35 and its 200-day moving average price is $111.02. The firm has a market cap of $48.58 billion, a P/E ratio of -51.87 and a beta of 1.64. Roblox Corporation has a 12 month low of $50.10 and a 12 month high of $150.59.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.07. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The firm’s quarterly revenue was up 70.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.37) EPS. On average, equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.