Mitsubishi UFJ Trust & Banking Corp Trims Stake in Roblox Corporation $RBLX

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Roblox Corporation (NYSE:RBLX) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 554,793 shares of the company’s stock after selling 18,507 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Roblox were worth $44,955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RBLX. Vanguard Group Inc. raised its stake in shares of Roblox by 5.6% in the third quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after buying an additional 3,284,073 shares during the period. State Street Corp raised its stake in shares of Roblox by 11.0% in the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock worth $1,851,991,000 after buying an additional 1,326,575 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Roblox by 342.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,551,456 shares of the company’s stock worth $125,714,000 after buying an additional 1,200,900 shares during the period. Durable Capital Partners LP raised its stake in shares of Roblox by 32.4% in the second quarter. Durable Capital Partners LP now owns 4,588,728 shares of the company’s stock worth $482,734,000 after buying an additional 1,122,153 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Roblox by 48.9% in the third quarter. Invesco Ltd. now owns 2,625,710 shares of the company’s stock worth $363,713,000 after buying an additional 862,754 shares during the period. Institutional investors own 94.46% of the company’s stock.

Insider Transactions at Roblox

In other news, insider Arvind Chakravarthy sold 40,646 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $19,783,065.54. Following the completion of the sale, the chief executive officer owned 811,373 shares in the company, valued at $58,954,362.18. This represents a 25.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 551,996 shares of company stock valued at $38,421,146. 12.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $122.00 price target on shares of Roblox in a research report on Monday, April 13th. Barclays dropped their price target on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of Roblox in a research report on Tuesday, January 20th. Jefferies Financial Group set a $85.00 price target on shares of Roblox in a research report on Thursday, January 15th. Finally, Citigroup dropped their price target on shares of Roblox from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.36.

Roblox Price Performance

RBLX stock opened at $55.98 on Wednesday. Roblox Corporation has a one year low of $51.23 and a one year high of $150.59. The company’s fifty day moving average price is $59.78 and its 200-day moving average price is $80.57. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $37.43 billion, a PE ratio of -36.12 and a beta of 1.67.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. The company’s quarterly revenue was up 122.6% compared to the same quarter last year. On average, equities analysts anticipate that Roblox Corporation will post -1.6 EPS for the current fiscal year.

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.