ING Groep NV Decreases Holdings in Roblox Corporation $RBLX

ING Groep NV trimmed its stake in shares of Roblox Corporation (NYSE:RBLX) by 31.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,400 shares of the company’s stock after selling 73,800 shares during the period. ING Groep NV’s holdings in Roblox were worth $12,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Reyes Financial Architecture Inc. lifted its holdings in Roblox by 164.4% during the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 194 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new position in Roblox during the fourth quarter valued at $27,000. Indiana Trust & Investment Management Co purchased a new position in Roblox during the fourth quarter valued at $32,000. Garner Asset Management Corp purchased a new position in Roblox during the fourth quarter valued at $37,000. Finally, Sunbelt Securities Inc. lifted its holdings in Roblox by 58.7% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after purchasing an additional 105 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 2,895 shares of Roblox stock in a transaction dated Wednesday, May 20th. The shares were 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 directly owned 35,238 shares in the company, valued at $1,594,167.12. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Roblox stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $46.36, for a total transaction of $219,931.84. Following the sale, the insider owned 97,141 shares of the company’s stock, valued at approximately $4,503,456.76. This 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. Over the last quarter, insiders sold 183,471 shares of company stock valued at $8,930,068. 10.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RBLX has been the topic of several recent analyst reports. Oppenheimer initiated coverage on shares of Roblox in a report on Friday, May 1st. They set an “outperform” rating on the stock. Citigroup decreased their price objective on shares of Roblox from $90.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Canaccord Genuity Group decreased their price objective on shares of Roblox from $140.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a report on Friday, March 27th. Finally, DA Davidson reduced their target price on shares of Roblox from $47.50 to $45.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. 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 given a Sell rating to the stock. According to MarketBeat, Roblox currently has an average rating of “Hold” and a consensus price target of $87.07.

Roblox Price Performance

Roblox stock opened at $41.92 on Monday. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59. The stock has a market cap of $28.15 billion, a P/E ratio of -26.53 and a beta of 1.44. The company has a 50-day moving average price of $51.24 and a 200 day moving average price of $67.20. The company has a current ratio of 0.89, a quick 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned ($0.32) earnings per share. Roblox’s revenue was up 43.4% compared to the same quarter last year. 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 authorized a share repurchase plan on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 9.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.