BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Position in Roblox Co. (NYSE:RBLX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Roblox Co. (NYSE:RBLX) by 12.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,924 shares of the company’s stock after selling 11,662 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Roblox were worth $3,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the period. Dragoneer Investment Group LLC increased its position in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Greenvale Capital LLP purchased a new position in Roblox during the second quarter worth about $89,304,000. Marshall Wace LLP acquired a new position in Roblox in the 2nd quarter valued at about $87,543,000. Finally, ARK Investment Management LLC grew its stake in shares of Roblox by 12.9% in the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after buying an additional 1,519,591 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Activity

In other news, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at approximately $4,817,179.80. This represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total value of $10,066,000.00. Following the sale, the director now owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. The trade was a 4.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,038,607 shares of company stock worth $49,713,872. 22.15% of the stock is currently owned by corporate insiders.

Roblox Trading Up 2.6 %

RBLX opened at $53.50 on Wednesday. The business has a fifty day moving average price of $46.49 and a 200 day moving average price of $41.73. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $55.10. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of -32.64 and a beta of 1.50.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.45) earnings per share. Sell-side analysts expect that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Citigroup raised their price objective on Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 target price on shares of Roblox in a research report on Friday, November 22nd. Finally, Barclays lifted their price target on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

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.