S&CO Inc. Makes New Investment in Roblox Corporation $RBLX

S&CO Inc. acquired a new position in shares of Roblox Corporation (NYSE:RBLX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 16,940 shares of the company’s stock, valued at approximately $921,000.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Roblox by 379.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock valued at $53,102,000 after purchasing an additional 729,379 shares during the period. Glynn Capital Management LLC purchased a new stake in shares of Roblox in the fourth quarter worth approximately $5,706,000. Assenagon Asset Management S.A. lifted its position in shares of Roblox by 89.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock worth $102,984,000 after purchasing an additional 891,634 shares in the last quarter. Militia Capital Management LLC acquired a new stake in shares of Roblox during the first quarter worth approximately $2,590,000. Finally, Amundi boosted its holdings in shares of Roblox by 83.7% during the first quarter. Amundi now owns 5,774,151 shares of the company’s stock worth $326,586,000 after purchasing an additional 2,631,074 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Roblox

In other news, CFO Naveen K. Chopra sold 16,863 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total transaction of $763,556.64. Following the transaction, the chief financial officer owned 380,758 shares in the company, valued at approximately $17,240,722.24. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $57.69, for a total transaction of $961,461.54. Following the transaction, the director owned 1,277,835 shares in the company, valued at $73,718,301.15. This represents a 1.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 161,983 shares of company stock worth $7,455,828 over the last quarter. 10.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Moffett Nathanson reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Roblox in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Roblox from a “buy” rating to a “hold” rating and cut their target price for the stock from $56.00 to $38.00 in a research report on Friday, July 31st. BMO Capital Markets lowered shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a research note on Friday, July 31st. Canaccord Genuity Group set a $58.00 price target on shares of Roblox in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.89.

Roblox Trading Up 0.5%

NYSE:RBLX opened at $38.13 on Friday. The stock’s 50 day moving average price is $47.56 and its 200 day moving average price is $53.87. Roblox Corporation has a 52 week low of $33.88 and a 52 week high of $142.00. The company has a market capitalization of $25.55 billion, a P/E ratio of -26.67 and a beta of 1.46. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.41) earnings per share. On average, research analysts forecast that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 9.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Roblox 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.