Geode Capital Management LLC Acquires 547,103 Shares of Roblox Corporation $RBLX

Geode Capital Management LLC boosted its holdings in Roblox Corporation (NYSE:RBLX) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,220,045 shares of the company’s stock after purchasing an additional 547,103 shares during the quarter. Geode Capital Management LLC’s holdings in Roblox were worth $988,002,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reyes Financial Architecture Inc. increased its stake in shares of Roblox by 164.4% in the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 194 shares in the last quarter. Indiana Trust & Investment Management Co acquired a new stake in Roblox in the fourth quarter worth $32,000. Garner Asset Management Corp bought a new stake in Roblox in the fourth quarter valued at $37,000. Sunbelt Securities Inc. increased its stake in Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after purchasing an additional 105 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of Roblox by 2,636.4% during the third quarter. Horizon Investments LLC now owns 301 shares of the company’s stock valued at $42,000 after purchasing an additional 290 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RBLX. Piper Sandler downgraded Roblox from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $100.00 to $50.00 in a research note on Monday, May 4th. Freedom Capital upgraded Roblox from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. BTIG Research downgraded shares of Roblox from a “buy” rating to a “neutral” rating in a research report on Friday, May 1st. Canaccord Genuity Group decreased their target price on shares of Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Wall Street Zen cut shares of Roblox from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.07.

Roblox Stock Performance

Shares of RBLX opened at $47.10 on Friday. The firm has a market cap of $31.63 billion, a PE ratio of -29.81 and a beta of 1.50. Roblox Corporation has a 1 year low of $40.15 and a 1 year high of $150.59. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s fifty day moving average price is $52.48 and its two-hundred day moving average price is $69.51.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm posted ($0.32) EPS. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. On average, equities research analysts forecast that Roblox Corporation will post -1.4 EPS for the current year.

Roblox declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 50,628 shares of Roblox stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the completion of the sale, the chief executive officer owned 852,214 shares of the company’s stock, valued at $38,588,249.92. The trade was a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Jack Buckley sold 4,744 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $46.36, for a total value of $219,931.84. Following the transaction, the insider directly owned 97,141 shares in the company, valued at approximately $4,503,456.76. This represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 183,471 shares of company stock valued at $8,930,068. 10.05% of the stock is currently owned by company insiders.

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.