Jupiter Asset Management Ltd. Takes Position in Roblox Corporation $RBLX

Jupiter Asset Management Ltd. bought a new stake in shares of Roblox Corporation (NYSE:RBLX) during the 4th quarter, HoldingsChannel.com reports. The firm bought 73,983 shares of the company’s stock, valued at approximately $5,995,000.

Several other institutional investors have also made changes to their positions in the business. Reyes Financial Architecture Inc. lifted its holdings in Roblox by 164.4% during the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Indiana Trust & Investment Management Co bought a new position in Roblox during the 4th quarter valued at about $32,000. Garner Asset Management Corp bought a new position in Roblox during the 4th quarter valued at about $37,000. Sunbelt Securities Inc. lifted its holdings in Roblox by 58.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after purchasing an additional 105 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in Roblox by 2,636.4% during the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company’s stock valued at $42,000 after purchasing an additional 290 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Roblox

In related news, insider Mark Reinstra sold 5,460 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $46.40, for a total transaction of $253,344.00. Following the completion of the sale, the insider directly owned 432,738 shares of the company’s stock, valued at $20,079,043.20. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,356 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total transaction of $649,896.12. Following the sale, the insider directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 183,471 shares of company stock valued at $8,930,068 over the last 90 days. Company insiders own 10.05% of the company’s stock.

Roblox Trading Up 0.6%

RBLX opened at $47.10 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $31.63 billion, a price-to-earnings ratio of -29.81 and a beta of 1.50. The firm has a 50 day simple moving average of $52.48 and a 200 day simple moving average of $69.51. Roblox Corporation has a fifty-two week low of $40.15 and a fifty-two week high of $150.59.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. Roblox’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) earnings per share. On average, sell-side analysts anticipate that Roblox Corporation will post -1.4 earnings per share for the current year.

Roblox announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to reacquire up to 9.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Roblox in a report on Friday, February 6th. DA Davidson cut their price target on shares of Roblox from $47.50 to $45.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. cut their price target on shares of Roblox from $100.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Wall Street Zen downgraded shares of Roblox from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Citigroup cut their price target on shares of Roblox from $90.00 to $70.00 and set a “buy” rating for the company in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Roblox currently has an average rating of “Hold” and an average target price of $87.07.

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.