S&CO Inc. Buys Shares of 16,940 Roblox Corporation $RBLX

S&CO Inc. purchased a new position in shares of Roblox Corporation (NYSE:RBLX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 16,940 shares of the company’s stock, valued at approximately $921,000.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Roblox by 1.6% in 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. Capital International Investors boosted its stake in Roblox by 7.3% during the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after purchasing an additional 2,184,439 shares in the last quarter. Morgan Stanley increased its position in shares of Roblox by 8.1% during the 4th quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock valued at $1,679,664,000 after purchasing an additional 1,555,549 shares during the period. State Street Corp increased its position in shares of Roblox by 3.3% during the 4th quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after purchasing an additional 442,518 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Roblox by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock valued at $988,002,000 after purchasing an additional 547,103 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RBLX. Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Arete Research set a $95.00 target price on Roblox and gave the stock a “buy” rating in a report on Monday, June 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a report on Wednesday, June 24th. Wolfe Research cut shares of Roblox from an “outperform” rating to a “hold” rating in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Roblox from a “buy” rating to a “hold” rating and cut their price target for the company from $56.00 to $38.00 in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Roblox presently has an average rating of “Hold” and a consensus price target of $60.89.

Roblox Price Performance

Shares of NYSE:RBLX opened at $38.13 on Friday. Roblox Corporation has a one year low of $33.88 and a one year high of $142.00. The stock has a fifty day moving average of $47.56 and a 200-day moving average of $53.87. The company has a market capitalization of $25.55 billion, a PE ratio of -26.67 and a beta of 1.46. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.08. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The company’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted ($0.41) EPS. As a group, equities analysts anticipate that Roblox Corporation will post -1.39 EPS for the current fiscal year.

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

Insider Buying and Selling at Roblox

In related news, insider Matthew D. Kaufman sold 14,356 shares of Roblox stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $37.46, for a total value of $624,308.36. Following the sale, the director owned 1,269,502 shares in the company, valued at approximately $47,555,544.92. The trade was a 1.30% decrease in their position. 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. Insiders sold a total of 161,983 shares of company stock valued at $7,455,828 over the last 90 days. 10.05% of the stock is owned by 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.