Westpac Banking Corp Sells 19,611 Shares of Roblox Corporation $RBLX

Westpac Banking Corp trimmed its holdings in shares of Roblox Corporation (NYSE:RBLX) by 73.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,078 shares of the company’s stock after selling 19,611 shares during the quarter. Westpac Banking Corp’s holdings in Roblox were worth $400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 buying an additional 105 shares in the last quarter. Horizon Investments LLC lifted its holdings in shares of Roblox by 2,636.4% in the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company’s stock worth $42,000 after buying an additional 290 shares during the period. Reyes Financial Architecture Inc. grew its position in shares of Roblox by 164.4% during the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after buying an additional 194 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in Roblox in the fourth quarter worth about $27,000. Finally, GW&K Investment Management LLC lifted its stake in Roblox by 76.3% in the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after acquiring an additional 161 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Transactions at Roblox

In related news, CFO Naveen K. Chopra sold 16,863 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total value of $763,556.64. Following the completion of the sale, the chief financial officer owned 380,758 shares in the company, valued at $17,240,722.24. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 company’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 value of $649,896.12. Following the completion of the sale, the insider owned 349,964 shares in the company, valued at approximately $15,842,870.28. This represents a 3.94% decrease in their position. 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 161,983 shares of company stock valued at $7,580,990 over the last three months. 10.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on RBLX shares. Barclays raised shares of Roblox from an “equal weight” rating to an “outperform” rating in a research report on Monday, June 29th. Oppenheimer assumed coverage on shares of Roblox in a research note on Friday, May 1st. They issued an “outperform” rating for the company. Morgan Stanley restated an “overweight” rating and set a $62.00 target price on shares of Roblox in a research note on Friday, May 1st. Canaccord Genuity Group lowered their price target on Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Raymond James Financial initiated coverage on Roblox in a research note on Monday, June 29th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.85.

Roblox Price Performance

NYSE:RBLX opened at $47.57 on Friday. Roblox Corporation has a one year low of $40.15 and a one year high of $150.59. The stock has a market cap of $31.95 billion, a PE ratio of -30.11 and a beta of 1.41. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day moving average price of $49.17 and a 200 day moving average price of $58.04.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 43.4% on a year-over-year basis. During the same period last year, the business posted ($0.32) earnings per share. Equities research analysts expect that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Key Roblox News

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Barclays reiterated its Hold rating on Roblox, which may help limit downside by signaling the stock still has some analyst support. Article: Barclays Sticks to Its Hold Rating for Roblox (RBLX)
• Neutral Sentiment: Roblox continues to attract attention around its new Build AI-powered creation tool, which could improve long-term user engagement and creation activity, but the impact on near-term earnings remains uncertain. Article: Roblox (RBLX) Unveiled Build, Is The Stock Fully Priced?
• Neutral Sentiment: The company is also expected to report earnings soon, keeping investors focused on upcoming fundamentals rather than just litigation headlines. Article: Roblox (RBLX) to Release Earnings on Thursday
• Negative Sentiment: Several law firms, including Rosen, Bernstein Liebhard, Pomerantz, Hagens Berman, Faruqi & Faruqi, and Robbins Geller, issued investor alerts tied to an expanded securities class action, reinforcing legal overhang on the stock. Article: RBLX DEADLINE NOTICE: ROSEN, SKILLED INVESTOR COUNSEL…
• Negative Sentiment: The class period in the lawsuit was expanded to cover a longer stretch of trading, which can broaden the pool of potential claimants and intensify investor concern. Article: RBLX INVESTOR ALERT: Roblox Corporation (RBLX) Investors with Substantial Losses…

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.