Roblox Co. (NYSE:RBLX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Roblox Co. (NYSE:RBLX) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,541 shares of the company’s stock after selling 2,809 shares during the quarter. Principal Financial Group Inc.’s holdings in Roblox were worth $1,657,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RBLX. Gilliland Jeter Wealth Management LLC increased its stake in Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Washington Trust Advisors Inc. acquired a new position in shares of Roblox during the first quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC increased its stake in shares of Roblox by 98.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after acquiring an additional 548 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Roblox during the first quarter worth approximately $52,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Roblox by 306.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,483 shares of the company’s stock worth $56,000 after purchasing an additional 1,118 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on RBLX. Deutsche Bank Aktiengesellschaft lifted their price target on Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC boosted their price target on shares of Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research assumed coverage on shares of Roblox in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Jefferies Financial Group started coverage on shares of Roblox in a research note on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $56.00 target price on shares of Roblox in a research note on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.40.

Insider Transactions at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $37.82, for a total value of $1,134,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,168,620.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Roblox news, insider Mark Reinstra sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the insider now owns 342,656 shares in the company, valued at $13,706,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $37.82, for a total value of $1,134,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,168,620.06. The disclosure for this sale can be found here. Insiders sold 605,232 shares of company stock valued at $25,255,954 over the last three months. 22.15% of the stock is owned by corporate insiders.

Roblox Price Performance

RBLX opened at $45.42 on Friday. The firm has a market capitalization of $26.86 billion, a P/E ratio of -24.42 and a beta of 1.60. The stock has a fifty day moving average of $41.06 and a 200-day moving average of $38.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. Roblox Co. has a 12-month low of $24.88 and a 12-month high of $47.20.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same period in the previous year, the firm earned ($0.46) earnings per share. Roblox’s quarterly revenue was up 31.2% on a year-over-year basis. Equities analysts forecast that Roblox Co. will post -1.59 EPS for the current fiscal year.

About Roblox

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.