Van ECK Associates Corp Sells 385,121 Shares of Roblox Co. (NYSE:RBLX)

Van ECK Associates Corp cut its stake in Roblox Co. (NYSE:RBLX) by 28.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 949,755 shares of the company’s stock after selling 385,121 shares during the period. Van ECK Associates Corp’s holdings in Roblox were worth $43,423,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after acquiring an additional 10,025,779 shares in the last quarter. Ieq Capital LLC grew its holdings in Roblox by 158.0% during the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock worth $265,035,000 after acquiring an additional 5,604,995 shares in the last quarter. Morgan Stanley grew its holdings in Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after acquiring an additional 4,927,848 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Roblox by 123.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,267,763 shares of the company’s stock worth $94,634,000 after acquiring an additional 1,805,567 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Roblox by 20.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,145,602 shares of the company’s stock worth $235,897,000 after acquiring an additional 1,368,347 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors.

Roblox Stock Down 2.7 %

RBLX opened at $35.56 on Wednesday. Roblox Co. has a 12-month low of $24.88 and a 12-month high of $47.20. The company has a debt-to-equity ratio of 14.64, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day moving average of $38.28 and a two-hundred day moving average of $39.18.

Roblox (NYSE:RBLX) last posted its earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.05. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.48) EPS. On average, equities research analysts expect that Roblox Co. will post -2.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RBLX has been the topic of several recent research reports. Roth Mkm increased their target price on shares of Roblox from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Wedbush increased their price target on shares of Roblox from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. The Goldman Sachs Group raised shares of Roblox from a “sell” rating to a “neutral” rating and increased their price target for the company from $35.00 to $48.00 in a research report on Thursday, February 8th. BMO Capital Markets increased their price target on shares of Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised shares of Roblox from a “neutral” rating to an “overweight” rating and increased their price target for the company from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and an average price target of $47.60.

Insider Activity

In other news, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares of the company’s stock, valued at approximately $44.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the sale, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Baszucki sold 200,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the transaction, the chief executive officer now directly owns 1 shares in the company, valued at approximately $44.15. The disclosure for this sale can be found here. Insiders sold a total of 712,374 shares of company stock valued at $29,639,338 in the last three months. 22.15% of the stock is currently owned by corporate insiders.

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.