Roblox Co. (NYSE:RBLX) Shares Sold by ING Groep NV

ING Groep NV lowered its position in Roblox Co. (NYSE:RBLX) by 40.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,000 shares of the company’s stock after selling 114,000 shares during the quarter. ING Groep NV’s holdings in Roblox were worth $7,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after buying an additional 4,818,022 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the last quarter. Greenvale Capital LLP purchased a new position in Roblox during the second quarter worth approximately $89,304,000. Marshall Wace LLP purchased a new stake in Roblox during the second quarter valued at about $87,543,000. Finally, ARK Investment Management LLC increased its position in shares of Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after acquiring an additional 1,519,591 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Roblox Stock Down 3.8 %

Roblox stock opened at $50.71 on Friday. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $55.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a 50 day moving average of $45.43 and a 200-day moving average of $40.49. The stock has a market capitalization of $30.81 billion, a PE ratio of -30.92 and a beta of 1.56.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.45) EPS. On average, equities research analysts anticipate that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Arvind Chakravarthy sold 592 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the sale, the insider now owns 276,892 shares in the company, valued at approximately $11,994,961.44. This trade represents a 0.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Manuel Bronstein sold 37,846 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.03, for a total transaction of $1,969,127.38. Following the transaction, the insider now owns 674,259 shares of the company’s stock, valued at $35,081,695.77. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 987,373 shares of company stock valued at $44,831,579 in the last 90 days. 22.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RBLX. Macquarie lifted their price target on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays lifted their target price on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Benchmark increased their price target on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC increased their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.30.

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.