Janus Henderson Group PLC Cuts Position in Roblox Corporation $RBLX

Janus Henderson Group PLC lessened its position in Roblox Corporation (NYSE:RBLX) by 24.2% during the first quarter, Holdings Channel reports. The fund owned 54,827 shares of the company’s stock after selling 17,493 shares during the period. Janus Henderson Group PLC’s holdings in Roblox were worth $3,103,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Roblox by 379.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock valued at $53,102,000 after purchasing an additional 729,379 shares in the last quarter. Glynn Capital Management LLC purchased a new position in Roblox in the 4th quarter worth $5,706,000. Militia Capital Management LLC purchased a new position in Roblox in the 1st quarter worth $2,590,000. Engineers Gate Manager LP lifted its stake in Roblox by 97.0% in the fourth quarter. Engineers Gate Manager LP now owns 293,744 shares of the company’s stock worth $23,802,000 after purchasing an additional 144,600 shares during the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in Roblox in the first quarter worth $44,116,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Jefferies Financial Group cut Roblox from a “hold” rating to a “hold” rating in a research note on Friday, May 1st. B. Riley Financial lowered their price objective on Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. HSBC lowered Roblox from a “buy” rating to a “hold” rating and set a $46.00 price objective for the company. in a research note on Friday, May 1st. BMO Capital Markets cut shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a report on Friday, July 31st. Finally, Barclays decreased their target price on shares of Roblox from $60.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Roblox has a consensus rating of “Hold” and a consensus target price of $60.89.

Roblox Trading Up 5.0%

NYSE RBLX opened at $37.84 on Friday. Roblox Corporation has a fifty-two week low of $33.88 and a fifty-two week high of $142.00. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day simple moving average of $48.28 and a two-hundred day simple moving average of $55.31. The stock has a market cap of $25.35 billion, a P/E ratio of -26.46 and a beta of 1.46.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.08. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.41) earnings per share. On average, analysts forecast that Roblox Corporation will post -1.39 earnings per share for the current year.

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

Insider Activity

In related news, insider Mark Reinstra sold 4,512 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $57.34, for a total value of $258,718.08. Following the completion of the transaction, the insider directly owned 422,248 shares of the company’s stock, valued at $24,211,700.32. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sean Jack Buckley sold 4,744 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.36, for a total transaction of $219,931.84. Following the completion of the sale, the insider owned 97,141 shares of the company’s stock, valued at $4,503,456.76. This trade 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. In the last three months, insiders have sold 161,983 shares of company stock worth $7,455,828. 10.05% of the stock is owned by company insiders.

Roblox Company Profile

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.