Nuveen Asset Management LLC Cuts Stake in Roblox Co. (NYSE:RBLX)

Nuveen Asset Management LLC reduced its stake in shares of Roblox Co. (NYSE:RBLX) by 32.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,277,835 shares of the company’s stock after selling 613,373 shares during the quarter. Nuveen Asset Management LLC owned about 0.21% of Roblox worth $73,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Smith Group Asset Management LLC grew its holdings in shares of Roblox by 939.6% in the fourth quarter. Smith Group Asset Management LLC now owns 69,030 shares of the company’s stock valued at $3,994,000 after purchasing an additional 62,390 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Roblox in the fourth quarter valued at $363,000. Silicon Valley Capital Partners grew its holdings in shares of Roblox by 3,010.0% in the fourth quarter. Silicon Valley Capital Partners now owns 69,104 shares of the company’s stock valued at $3,998,000 after purchasing an additional 66,882 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Roblox by 320.0% in the fourth quarter. V Square Quantitative Management LLC now owns 2,587 shares of the company’s stock valued at $149,000 after purchasing an additional 1,971 shares in the last quarter. Finally, Amundi grew its holdings in shares of Roblox by 111.4% in the fourth quarter. Amundi now owns 3,191,137 shares of the company’s stock valued at $198,010,000 after purchasing an additional 1,681,263 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roblox

In other news, Director Anthony P. Lee sold 13,600 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $79.45, for a total transaction of $1,080,520.00. Following the sale, the director now owns 294,708 shares in the company, valued at approximately $23,414,550.60. The trade was a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 4,468 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.34, for a total value of $274,067.12. Following the sale, the chief accounting officer now owns 75,583 shares in the company, valued at $4,636,261.22. The trade was a 5.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,358,232 shares of company stock worth $161,232,273 over the last quarter. Insiders own 22.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RBLX. Citigroup raised their target price on shares of Roblox from $78.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and issued a $72.00 target price (up from $65.00) on shares of Roblox in a report on Tuesday, January 28th. Wedbush restated an “outperform” rating and issued a $83.00 price target on shares of Roblox in a research report on Thursday, April 24th. FBN Securities assumed coverage on Roblox in a research report on Friday, March 28th. They issued a “sector perform” rating and a $65.00 price target for the company. Finally, OTR Global upgraded Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.68.

Roblox Stock Performance

RBLX stock opened at $81.21 on Friday. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The business has a 50-day moving average price of $62.73 and a 200 day moving average price of $60.80. The company has a market capitalization of $51.16 billion, a P/E ratio of -56.00 and a beta of 1.46. Roblox Co. has a 1-year low of $31.59 and a 1-year high of $82.02.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. As a group, equities research analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

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.