Los Angeles Capital Management LLC Grows Stock Position in Roblox Corporation $RBLX

Los Angeles Capital Management LLC raised its stake in shares of Roblox Corporation (NYSE:RBLX) by 1,029.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 29,843 shares of the company’s stock after buying an additional 27,200 shares during the period. Los Angeles Capital Management LLC’s holdings in Roblox were worth $2,418,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Reyes Financial Architecture Inc. raised its stake in shares of 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 buying an additional 194 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new position in shares of Roblox during the 4th quarter valued at about $27,000. Indiana Trust & Investment Management Co purchased a new position in shares of Roblox during the 4th quarter valued at about $32,000. Garner Asset Management Corp purchased a new position in shares of Roblox in the 4th quarter valued at about $37,000. Finally, Sunbelt Securities Inc. increased its stake in shares of Roblox by 58.7% in 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 in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analyst Weigh In

RBLX has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price target on Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Roth Mkm set a $65.00 price objective on Roblox in a report on Tuesday, May 5th. The Goldman Sachs Group dropped their price objective on Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Piper Sandler lowered Roblox from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $100.00 to $50.00 in a report on Monday, May 4th. Finally, DA Davidson dropped their price objective on Roblox from $47.50 to $45.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Roblox has an average rating of “Hold” and an average price target of $87.07.

Roblox News Summary

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Russia’s digital ministry moved to help lift the Roblox ban, potentially reopening access in a large market if the company meets local safety and compliance demands. Russian ministry requests lifting of Roblox ban
• Neutral Sentiment: Insider Mark Reinstra sold 5,978 shares under a pre-arranged 10b5-1 plan, which is worth watching but does not necessarily signal a change in fundamentals.
• Negative Sentiment: Multiple law firms, including Rosen, Pomerantz, Robbins, Faruqi & Faruqi, Levi & Korsinsky, and others, are promoting a securities class action against Roblox, keeping legal risk and headline pressure elevated. Rosen Law Firm Urges Roblox Corporation (NYSE: RBLX) Stockholders with Large Losses to Contact the Firm for Information About Their Rights

Insiders Place Their Bets

In other news, insider Matthew D. Kaufman sold 14,356 shares of the firm’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 transaction, the insider owned 349,964 shares in the company, valued at $15,842,870.28. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $57.95, for a total value of $965,794.70. Following the completion of the transaction, the director owned 1,302,834 shares in the company, valued at approximately $75,499,230.30. This trade represents a 1.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 189,449 shares of company stock valued at $9,179,410. 10.05% of the stock is owned by corporate insiders.

Roblox Trading Up 1.7%

RBLX stock opened at $43.00 on Wednesday. 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 Corporation has a 12-month low of $40.15 and a 12-month high of $150.59. The stock has a market cap of $28.88 billion, a price-to-earnings ratio of -27.21 and a beta of 1.44. The business’s 50-day moving average is $50.83 and its 200 day moving average is $66.39.

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

Roblox declared that its board has authorized a stock repurchase plan on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 9.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is 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.