Panagora Asset Management Inc. Decreases Holdings in Roblox Corporation $RBLX

Panagora Asset Management Inc. trimmed its holdings in shares of Roblox Corporation (NYSE:RBLX) by 8.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 455,967 shares of the company’s stock after selling 41,896 shares during the period. Panagora Asset Management Inc.’s holdings in Roblox were worth $36,947,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Roblox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after buying an additional 1,020,786 shares during the last quarter. Capital International Investors lifted its holdings in Roblox by 7.3% during the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after buying an additional 2,184,439 shares during the last quarter. Morgan Stanley increased its position in shares of Roblox by 8.1% during the fourth quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock worth $1,679,664,000 after purchasing an additional 1,555,549 shares in the last quarter. State Street Corp increased its position in shares of Roblox by 3.3% during the fourth quarter. State Street Corp now owns 13,812,362 shares of the company’s stock worth $1,119,216,000 after purchasing an additional 442,518 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Roblox by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after purchasing an additional 547,103 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Roth Mkm set a $65.00 target price on Roblox in a research report on Tuesday, May 5th. HSBC cut Roblox from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a research report on Friday, May 1st. Bank of America cut Roblox from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research report on Friday, May 1st. Needham & Company LLC assumed coverage on Roblox in a research report on Friday, May 1st. They set a “buy” rating and a $60.00 target price on the stock. Finally, DA Davidson cut their target price on Roblox from $47.50 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Roblox currently has a consensus rating of “Hold” and an average price target of $87.07.

Roblox Stock Performance

NYSE RBLX opened at $45.67 on Tuesday. The stock has a market capitalization of $30.67 billion, a price-to-earnings ratio of -28.90 and a beta of 1.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. The business’s 50 day moving average is $49.78 and its two-hundred day moving average is $65.07. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59.

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

Roblox announced that its board has authorized a share 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 buy up to 9.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Matthew D. Kaufman sold 14,356 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the sale, the insider owned 349,964 shares in the company, valued at $15,842,870.28. This represents a 3.94% decrease in their position. The transaction was disclosed in a legal filing 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 company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $46.36, for a total value of $219,931.84. Following the completion of the sale, the insider owned 97,141 shares in the company, valued at approximately $4,503,456.76. This represents a 4.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 189,449 shares of company stock worth $9,179,410. 10.05% of the stock is owned by insiders.

About Roblox

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.