Voya Investment Management LLC Trims Position in Roblox Corporation $RBLX

Voya Investment Management LLC decreased its stake in shares of Roblox Corporation (NYSE:RBLX) by 20.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,274,609 shares of the company’s stock after selling 320,544 shares during the period. Voya Investment Management LLC’s holdings in Roblox were worth $176,215,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RBLX. Total Investment Management Inc. bought a new stake in shares of Roblox during the second quarter valued at approximately $29,000. ORG Partners LLC purchased a new position in Roblox during the 2nd quarter worth $33,000. Whipplewood Advisors LLC purchased a new position in Roblox during the 2nd quarter worth $34,000. Generali Asset Management SPA SGR bought a new stake in Roblox during the 2nd quarter valued at $40,000. Finally, Kiker Wealth Management LLC lifted its holdings in shares of Roblox by 2,646.7% in the 2nd quarter. Kiker Wealth Management LLC now owns 412 shares of the company’s stock worth $43,000 after buying an additional 397 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of recent research reports. The Goldman Sachs Group raised Roblox from a “neutral” rating to a “buy” rating and increased their price target for the stock from $155.00 to $180.00 in a research report on Friday, October 31st. Raymond James Financial restated an “outperform” rating and issued a $165.00 price target (up previously from $155.00) on shares of Roblox in a report on Tuesday, October 14th. Canaccord Genuity Group set a $160.00 price objective on shares of Roblox in a research note on Thursday, October 30th. BTIG Research cut their price objective on shares of Roblox from $180.00 to $174.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Arete Research set a $116.00 price objective on shares of Roblox in a research note on Tuesday, September 9th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.88.

Insiders Place Their Bets

In related news, CFO Naveen K. Chopra sold 19,424 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total value of $1,849,747.52. Following the transaction, the chief financial officer owned 337,036 shares in the company, valued at approximately $32,095,938.28. This represents a 5.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew D. Kaufman sold 20,867 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $96.10, for a total transaction of $2,005,318.70. Following the transaction, the insider directly owned 239,775 shares of the company’s stock, valued at $23,042,377.50. This represents a 8.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 376,508 shares of company stock valued at $40,019,241. Insiders own 12.92% of the company’s stock.

Roblox Trading Down 2.4%

NYSE:RBLX opened at $83.83 on Friday. The company has a market capitalization of $54.90 billion, a P/E ratio of -58.62 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54. Roblox Corporation has a 12 month low of $50.10 and a 12 month high of $150.59. The firm has a fifty day simple moving average of $106.84 and a 200-day simple moving average of $114.53.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.07. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business posted ($0.37) EPS. The firm’s quarterly revenue was up 70.3% on a year-over-year basis. On average, equities research analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current year.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.