Legal & General Group Plc Purchases 40,981 Shares of Roblox Corporation $RBLX

Legal & General Group Plc raised its stake in shares of Roblox Corporation (NYSE:RBLX) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,721,252 shares of the company’s stock after purchasing an additional 40,981 shares during the period. Legal & General Group Plc’s holdings in Roblox were worth $220,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Pension Service raised its holdings in shares of Roblox by 7.3% in the third quarter. National Pension Service now owns 1,697,820 shares of the company’s stock worth $235,182,000 after buying an additional 115,096 shares during the period. Cypress Wealth Services LLC purchased a new stake in shares of Roblox in the fourth quarter worth approximately $2,373,000. Yarbrough Capital LLC raised its holdings in shares of Roblox by 1,514.5% in the fourth quarter. Yarbrough Capital LLC now owns 57,331 shares of the company’s stock worth $4,646,000 after buying an additional 53,780 shares during the period. Triglav Investments D.O.O. purchased a new stake in shares of Roblox in the third quarter worth approximately $3,186,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Roblox by 28.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,590 shares of the company’s stock worth $10,609,000 after buying an additional 16,915 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Performance

Shares of RBLX stock opened at $45.73 on Thursday. The stock has a market cap of $30.71 billion, a PE ratio of -28.95 and a beta of 1.50. The business has a 50-day simple moving average of $52.92 and a 200-day simple moving average of $70.09. 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 Corporation has a 52-week low of $40.15 and a 52-week high of $150.59.

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, beating the consensus estimate of ($0.41) by $0.06. The business had revenue of $1.44 billion during 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%.The company’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS. On average, equities analysts expect that Roblox Corporation will post -1.4 EPS for the current year.

Roblox announced that its board has initiated a share repurchase plan on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Roblox from $97.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Canaccord Genuity Group reduced their price target on Roblox from $140.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 1st. UBS Group reduced their price target on Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Oppenheimer initiated coverage on Roblox in a report on Friday, May 1st. They issued an “outperform” rating on the stock. Finally, Benchmark reiterated a “hold” rating on shares of Roblox in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $87.07.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 50,628 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 852,214 shares in the company, valued at approximately $38,588,249.92. The trade was a 5.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Jack Buckley sold 4,744 shares of the company’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 owned 97,141 shares of the company’s stock, valued at $4,503,456.76. This trade represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 183,471 shares of company stock worth $8,930,068 in the last quarter. Corporate insiders own 10.05% of the company’s stock.

Roblox 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.