Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Roblox Corporation (NYSE:RBLX – Free Report) by 45.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,511,947 shares of the company’s stock after selling 2,130,908 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.37% of Roblox worth $106,431,000 as of its most recent SEC filing.
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Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Roblox during the 3rd quarter worth approximately $63,000. Americana Partners LLC acquired a new stake in Roblox in the 3rd quarter valued at approximately $262,000. Parcion Private Wealth LLC raised its position in Roblox by 76.1% in the third quarter. Parcion Private Wealth LLC now owns 14,862 shares of the company’s stock valued at $630,000 after purchasing an additional 6,421 shares during the period. Soltis Investment Advisors LLC raised its position in Roblox by 66.0% in the third quarter. Soltis Investment Advisors LLC now owns 7,249 shares of the company’s stock valued at $307,000 after purchasing an additional 2,883 shares during the period. Finally, Brooklands Fund Management Ltd purchased a new stake in Roblox in the third quarter valued at approximately $29,028,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.
Insider Buying and Selling
In other Roblox news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $42.87, for a total value of $714,471.42. Following the sale, the director owned 1,252,836 shares of the company’s stock, valued at $53,709,079.32. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Naveen Chopra sold 17,509 shares of Roblox stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $664,641.64. Following the completion of the transaction, the chief financial officer owned 363,249 shares of the company’s stock, valued at $13,788,932.04. The trade was a 4.60% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 169,724 shares of company stock worth $6,659,063 over the last ninety days. Company insiders own 10.05% of the company’s stock.
Key Roblox News
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Here are the key news stories impacting Roblox this week:
- Positive Sentiment:B. Riley Financial raised its price target from $45 to $51 and maintained a “buy” rating, implying meaningful upside and signaling confidence in Roblox’s longer-term growth prospects.
- Positive Sentiment:Wolfe Research upgraded Roblox, adding support to the bullish view that the recent selloff may have created an attractive entry point. Roblox Upgraded at Wolfe Research
- Positive Sentiment:Morgan Stanley reiterated its “buy” rating, indicating that it continues to view Roblox’s platform, engagement potential and international expansion favorably. Morgan Stanley Keeps Their Buy Rating on Roblox
- Neutral Sentiment:Coverage of Roblox’s international revenue trends is assessing whether overseas growth can offset slower momentum in other areas. The analysis could influence Wall Street forecasts, but the available report does not identify a definitive change in estimates. Unlocking Roblox International Revenues
- Neutral Sentiment:DA Davidson cut its price target from $50 to $48 and kept a “neutral” rating, while JPMorgan reduced its target from $53 to $46 and also remained neutral. Both firms still see some upside, but their lower estimates point to more cautious expectations.
- Negative Sentiment:Citigroup lowered its target from $60 to $55, although it retained a “buy” rating. The reduction suggests analysts are trimming growth assumptions despite continued optimism about the business.
- Negative Sentiment:Recent Q3 coverage highlighted a year-over-year decline in daily users, a weaker holiday bookings forecast and expectations for negative adjusted EBITDA. Those concerns outweighed stronger quarterly bookings and a share-repurchase announcement, contributing to the stock’s recent decline. Is Roblox Undervalued After Its Q3 Update and Weak Holiday Outlook?
Roblox Stock Down 0.4%
Roblox stock opened at $42.81 on Tuesday. The firm has a market capitalization of $28.69 billion, a P/E ratio of -31.02 and a beta of 1.47. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $113.60. The stock’s fifty day simple moving average is $46.43 and its 200-day simple moving average is $52.48.
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