Truist Financial Corp Lowers Stock Holdings in Roblox Corporation $RBLX

Truist Financial Corp reduced its position in Roblox Corporation (NYSE:RBLX) by 66.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,953 shares of the company’s stock after selling 23,739 shares during the period. Truist Financial Corp’s holdings in Roblox were worth $969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strs Ohio grew its stake in Roblox by 7.7% in the 4th quarter. Strs Ohio now owns 256,657 shares of the company’s stock worth $20,797,000 after acquiring an additional 18,248 shares during the period. Horizon Investments LLC grew its stake in Roblox by 1,039.9% in the 4th quarter. Horizon Investments LLC now owns 3,431 shares of the company’s stock worth $278,000 after acquiring an additional 3,130 shares during the period. Danske Bank A S grew its stake in Roblox by 12.8% in the 4th quarter. Danske Bank A S now owns 285,024 shares of the company’s stock worth $23,095,000 after acquiring an additional 32,394 shares during the period. Mutual Advisors LLC grew its stake in Roblox by 30.7% in the 4th quarter. Mutual Advisors LLC now owns 6,103 shares of the company’s stock worth $494,000 after acquiring an additional 1,435 shares during the period. Finally, GenTrust LLC grew its stake in Roblox by 40.0% in the 4th quarter. GenTrust LLC now owns 3,015 shares of the company’s stock worth $244,000 after acquiring an additional 862 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roblox

In other news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $44.97, for a total value of $749,470.02. Following the completion of the sale, the director owned 1,294,501 shares of the company’s stock, valued at $58,213,709.97. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 13,325 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $57.94, for a total transaction of $772,050.50. Following the completion of the sale, the insider directly owned 364,320 shares of the company’s stock, valued at $21,108,700.80. The trade was a 3.53% decrease in their position. 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. Insiders sold 76,144 shares of company stock worth $4,235,769 over the last three months. 12.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on RBLX. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of Roblox in a research note on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Roblox in a research note on Friday, February 6th. Wall Street Zen raised shares of Roblox from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. UBS Group cut their price target on shares of Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Finally, DA Davidson cut their price target on shares of Roblox from $65.00 to $47.50 and set a “neutral” rating on the stock in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Roblox currently has an average rating of “Hold” and a consensus target price of $87.17.

Roblox Price Performance

Roblox stock opened at $42.83 on Friday. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59. The firm has a fifty day moving average of $55.15 and a 200-day moving average of $74.25. The firm has a market capitalization of $28.77 billion, a P/E ratio of -27.11 and a beta of 1.50. 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 released its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. As a group, analysts predict that Roblox Corporation will post -1.4 EPS for the current year.

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.