The Manufacturers Life Insurance Company Sells 13,945 Shares of Roblox Corporation $RBLX

The Manufacturers Life Insurance Company cut its stake in shares of Roblox Corporation (NYSE:RBLX) by 28.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,598 shares of the company’s stock after selling 13,945 shares during the period. The Manufacturers Life Insurance Company’s holdings in Roblox were worth $2,013,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RBLX. NewEdge Advisors LLC grew its position in Roblox by 2.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after acquiring an additional 231 shares during the last quarter. Sivia Capital Partners LLC raised its position in Roblox by 70.2% in the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock valued at $1,368,000 after purchasing an additional 5,363 shares during the last quarter. CW Advisors LLC bought a new position in Roblox in the second quarter valued at about $272,000. Baird Financial Group Inc. boosted its stake in shares of Roblox by 1.4% during the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after purchasing an additional 102 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Roblox during the second quarter valued at about $438,000. 94.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on RBLX shares. Oppenheimer lowered their price objective on Roblox from $82.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. UBS Group set a $33.00 target price on shares of Roblox in a report on Friday, July 31st. HSBC cut shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Wednesday, June 24th. Finally, Needham & Company LLC reduced their price objective on shares of Roblox from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Roblox presently has an average rating of “Hold” and a consensus price target of $60.89.

Roblox Price Performance

Roblox stock opened at $37.84 on Monday. The stock’s 50 day moving average is $48.28 and its 200 day moving average is $55.08. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $25.35 billion, a P/E ratio of -26.46 and a beta of 1.46. Roblox Corporation has a one year low of $33.88 and a one year high of $142.00.

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

Roblox declared that its board has authorized a stock buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Sean Jack Buckley sold 4,744 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $46.36, for a total transaction of $219,931.84. Following the completion of the sale, the insider directly owned 97,141 shares in the company, valued at $4,503,456.76. This represents a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Baszucki sold 50,628 shares of Roblox stock in a transaction on 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 transaction, the chief executive officer directly owned 852,214 shares of the company’s stock, valued at $38,588,249.92. This represents a 5.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 161,983 shares of company stock worth $7,455,828. Corporate insiders own 10.05% of the company’s stock.

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.