TD Asset Management Inc Has $37.83 Million Stock Position in Roblox Corporation $RBLX

TD Asset Management Inc decreased its holdings in shares of Roblox Corporation (NYSE:RBLX) by 20.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 466,917 shares of the company’s stock after selling 123,653 shares during the quarter. TD Asset Management Inc’s holdings in Roblox were worth $37,834,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Baird Financial Group Inc. increased its stake in shares of Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after purchasing an additional 102 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of Roblox by 58.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after purchasing an additional 105 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Roblox by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock worth $560,000 after purchasing an additional 110 shares during the last quarter. Westpac Banking Corp increased its stake in shares of Roblox by 0.6% during the 3rd quarter. Westpac Banking Corp now owns 20,043 shares of the company’s stock worth $2,776,000 after purchasing an additional 115 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Roblox by 1.3% in the 2nd quarter. NewEdge Advisors LLC now owns 10,374 shares of the company’s stock valued at $1,091,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Stock Performance

NYSE RBLX opened at $41.92 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 firm has a market capitalization of $28.15 billion, a price-to-earnings ratio of -26.53 and a beta of 1.44. The company’s fifty day moving average is $51.24 and its two-hundred day moving average is $67.43. Roblox Corporation has a 52-week low of $40.15 and a 52-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 (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period last year, the business posted ($0.32) EPS. Equities research analysts forecast that Roblox Corporation will post -1.4 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup lowered their target price on shares of Roblox from $90.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Barclays lowered their target price on shares of Roblox from $115.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a research note on Friday, March 27th. Piper Sandler lowered shares of Roblox from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $100.00 to $50.00 in a research note on Monday, May 4th. Finally, Wedbush lowered shares of Roblox from a “hold” rating to a “neutral” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Roblox currently has an average rating of “Hold” and a consensus target price of $87.07.

Insider Buying and Selling

In other Roblox news, insider Mark Reinstra sold 5,460 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $46.40, for a total value of $253,344.00. Following the sale, the insider directly owned 432,738 shares in the company, valued at $20,079,043.20. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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, CAO Amy Marie Rawlings sold 2,895 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.24, for a total transaction of $130,969.80. Following the completion of the sale, the chief accounting officer owned 35,238 shares in the company, valued at $1,594,167.12. This represents a 7.59% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 183,471 shares of company stock worth $8,930,068. 10.05% of the stock is currently owned by corporate insiders.

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.