Royal London Asset Management Ltd. Boosts Stake in Roblox Co. (NYSE:RBLX)

Royal London Asset Management Ltd. raised its position in shares of Roblox Co. (NYSE:RBLX) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,106 shares of the company’s stock after buying an additional 7,341 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Roblox were worth $7,558,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. PARK CIRCLE Co purchased a new position in shares of Roblox in the second quarter valued at $30,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after buying an additional 506 shares in the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Roblox in the 1st quarter worth about $39,000. Allspring Global Investments Holdings LLC raised its position in shares of Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after buying an additional 548 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Roblox in the fourth quarter worth about $59,000. Institutional investors own 91.08% of the company’s stock.

Roblox Stock Performance

RBLX stock opened at $45.87 on Friday. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. Roblox Co. has a 1-year low of $24.88 and a 1-year high of $47.20. The business has a 50-day moving average price of $41.20 and a 200 day moving average price of $38.18. The company has a market capitalization of $27.45 billion, a P/E ratio of -24.66 and a beta of 1.60.

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

Insider Buying and Selling at Roblox

In other news, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $36.67, for a total value of $476,710.00. Following the completion of the transaction, the director now directly owns 9,721,603 shares of the company’s stock, valued at approximately $356,491,182.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction 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 transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,168,620.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total value of $476,710.00. Following the sale, the director now owns 9,721,603 shares of the company’s stock, valued at approximately $356,491,182.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 608,675 shares of company stock valued at $25,410,923. 22.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Roth Mkm upped their price objective on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Benchmark raised their price target on Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 price objective on the stock. BTIG Research raised their target price on shares of Roblox from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group upped their price target on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.40.

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.