Tokio Marine Asset Management Co. Ltd. Buys New Stake in Roblox Corporation $RBLX

Tokio Marine Asset Management Co. Ltd. purchased a new position in Roblox Corporation (NYSE:RBLX) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 20,897 shares of the company’s stock, valued at approximately $2,895,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RBLX. Vanguard Group Inc. lifted its stake in shares of Roblox by 2.6% during the second quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock worth $6,222,993,000 after buying an additional 1,513,608 shares during the period. SG Americas Securities LLC increased its position in shares of Roblox by 298.4% in the 3rd quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock valued at $45,617,000 after acquiring an additional 246,652 shares during the period. Westfield Capital Management Co. LP purchased a new position in Roblox in the 2nd quarter worth $120,041,000. Moody Lynn & Lieberson LLC acquired a new stake in Roblox during the 2nd quarter worth about $2,779,000. Finally, Teacher Retirement System of Texas grew its stake in Roblox by 14.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 81,314 shares of the company’s stock valued at $8,554,000 after purchasing an additional 10,325 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Trading Up 4.7%

Shares of NYSE:RBLX opened at $76.69 on Tuesday. The business’s 50 day moving average price is $90.40 and its 200-day moving average price is $112.57. Roblox Corporation has a 1 year low of $50.10 and a 1 year high of $150.59. The firm has a market capitalization of $50.22 billion, a price-to-earnings ratio of -53.63 and a beta of 1.64. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.07. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the business posted ($0.37) earnings per share. The firm’s revenue for the quarter was up 70.3% on a year-over-year basis. On average, equities research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other news, insider Arvind Chakravarthy sold 20,912 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $95.23, for a total value of $1,991,449.76. Following the transaction, the insider owned 181,043 shares in the company, valued at $17,240,724.89. This trade represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Baszucki sold 66,896 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $104.53, for a total value of $6,992,638.88. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 497,300 shares of company stock valued at $45,713,286. 12.92% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Roth Capital restated a “neutral” rating and issued a $146.00 price objective on shares of Roblox in a research note on Friday, October 17th. The Goldman Sachs Group upgraded shares of Roblox from a “neutral” rating to a “buy” rating and boosted their target price for the company from $155.00 to $180.00 in a research report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price objective (up previously from $155.00) on shares of Roblox in a report on Tuesday, October 14th. B. Riley began coverage on Roblox in a research report on Tuesday, December 9th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Piper Sandler set a $130.00 price target on shares of Roblox in a report on Friday, October 31st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.65.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.