Van ECK Associates Corp Sells 483,162 Shares of Roblox Corporation $RBLX

Van ECK Associates Corp decreased its stake in shares of Roblox Corporation (NYSE:RBLX) by 49.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 502,276 shares of the company’s stock after selling 483,162 shares during the period. Van ECK Associates Corp owned approximately 0.08% of Roblox worth $69,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Roblox by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after purchasing an additional 3,284,073 shares in the last quarter. State Street Corp lifted its holdings in shares of Roblox by 6.3% in the second quarter. State Street Corp now owns 12,043,269 shares of the company’s stock valued at $1,266,952,000 after purchasing an additional 708,838 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Roblox by 9.1% in the second quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock valued at $1,053,257,000 after purchasing an additional 834,230 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Roblox by 3.0% during the second quarter. AQR Capital Management LLC now owns 9,032,411 shares of the company’s stock worth $948,222,000 after buying an additional 261,984 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Roblox by 9.9% during the second quarter. Franklin Resources Inc. now owns 6,344,645 shares of the company’s stock worth $667,457,000 after buying an additional 570,018 shares during the period. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Needham & Company LLC dropped their target price on Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Freedom Capital upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. TD Cowen reissued a “sell” rating on shares of Roblox in a research report on Tuesday, January 27th. Barclays reduced their target price on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Finally, Wells Fargo & Company set a $97.00 price target on shares of Roblox in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average target price of $117.35.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 272,269 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $72.66, for a total value of $19,783,065.54. Following the completion of the sale, the chief executive officer directly owned 811,373 shares in the company, valued at $58,954,362.18. The trade was a 25.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Reinstra sold 60,000 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $63.94, for a total value of $3,836,400.00. Following the transaction, the insider owned 394,322 shares in the company, valued at $25,212,948.68. The trade was a 13.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 703,144 shares of company stock valued at $51,681,640 in the last 90 days. Corporate insiders own 12.92% of the company’s stock.

Roblox Trading Down 6.2%

Shares of Roblox stock opened at $58.76 on Wednesday. The company has a market capitalization of $38.88 billion, a price-to-earnings ratio of -37.91 and a beta of 1.62. The business has a fifty day simple moving average of $71.25 and a two-hundred day simple moving average of $98.66. Roblox Corporation has a 1 year low of $50.10 and a 1 year high of $150.59. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the company posted ($0.33) EPS. Roblox’s quarterly revenue was up 122.6% compared to the same quarter last year. Research analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

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.