ING Groep NV Cuts Stock Position in Roblox Corporation $RBLX

ING Groep NV cut its holdings in shares of Roblox Corporation (NYSE:RBLX) by 31.8% during the fourth quarter, Holdings Channel reports. The firm owned 158,400 shares of the company’s stock after selling 73,800 shares during the quarter. ING Groep NV’s holdings in Roblox were worth $12,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RBLX. NewEdge Advisors LLC boosted its stake in shares of Roblox by 2.3% in the first quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock valued at $597,000 after purchasing an additional 231 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Roblox by 70.2% in the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock valued at $1,368,000 after purchasing an additional 5,363 shares during the period. CW Advisors LLC purchased a new position in shares of Roblox in the second quarter valued at approximately $272,000. Baird Financial Group Inc. boosted its stake in shares of Roblox by 1.4% in the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after purchasing an additional 102 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Roblox in the second quarter valued at approximately $438,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on RBLX shares. Wall Street Zen lowered shares of Roblox from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Canaccord Genuity Group lowered their price objective on shares of Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Jefferies Financial Group lowered shares of Roblox from a “hold” rating to a “hold” rating in a research note on Friday, May 1st. Wedbush lowered shares of Roblox from a “hold” rating to a “neutral” rating in a research note on Friday, May 1st. Finally, Oppenheimer started coverage on shares of Roblox in a research note on Friday, May 1st. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.07.

Roblox Stock Up 0.2%

Shares of Roblox stock opened at $41.92 on Monday. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59. The company has a 50 day moving average of $51.24 and a 200 day moving average of $67.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.45. The company has a market capitalization of $28.15 billion, a P/E ratio of -26.53 and a beta of 1.44.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. As a group, research analysts forecast that Roblox Corporation will post -1.4 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, CFO Naveen K. Chopra sold 16,863 shares of Roblox stock in a transaction that occurred on 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 transaction, the chief financial officer owned 380,758 shares in the company, valued at $17,240,722.24. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Baszucki sold 50,628 shares of Roblox stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the completion of the transaction, the chief executive officer owned 852,214 shares of the company’s stock, valued at $38,588,249.92. This represents a 5.61% 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 have sold 183,471 shares of company stock valued at $8,930,068 over the last ninety days. 10.05% of the stock is currently owned by corporate insiders.

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.