Assenagon Asset Management S.A. Sells 528,756 Shares of Roblox Co. (NYSE:RBLX)

Assenagon Asset Management S.A. decreased its holdings in Roblox Co. (NYSE:RBLX) by 94.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,229 shares of the company’s stock after selling 528,756 shares during the period. Assenagon Asset Management S.A.’s holdings in Roblox were worth $1,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after purchasing an additional 4,818,022 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Roblox by 3.1% during the 1st quarter. Baillie Gifford & Co. now owns 28,607,151 shares of the company’s stock valued at $1,092,221,000 after buying an additional 867,805 shares in the last quarter. Ieq Capital LLC increased its position in shares of Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after buying an additional 2,684,713 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Roblox by 9.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,493,091 shares of the company’s stock worth $324,266,000 after buying an additional 764,481 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Roblox by 195.1% in the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock valued at $357,043,000 after acquiring an additional 5,162,833 shares during the period. Institutional investors own 91.08% of the company’s stock.

Roblox Stock Performance

RBLX opened at $43.35 on Friday. Roblox Co. has a one year low of $24.88 and a one year high of $47.20. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $38.78 and a two-hundred day simple moving average of $38.01. The firm has a market capitalization of $25.94 billion, a price-to-earnings ratio of -23.31 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same period in the previous year, the firm earned ($0.46) earnings per share. The business’s revenue was up 31.2% compared to the same quarter last year. Analysts predict that Roblox Co. will post -1.59 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Baszucki sold 5,724 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $33.30, for a total value of $190,609.20. Following the transaction, the chief executive officer now directly owns 142,260 shares of the company’s stock, valued at approximately $4,737,258. The disclosure for this sale can be found here. In the last ninety days, insiders sold 502,149 shares of company stock worth $19,076,307. 22.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of analyst reports. Roth Mkm upped their target price on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Benchmark lifted their price objective on Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush restated an “outperform” rating and set a $46.00 target price on shares of Roblox in a research report on Monday, July 29th. Piper Sandler reiterated an “overweight” rating and set a $40.00 price target (down previously from $56.00) on shares of Roblox in a research report on Friday, May 10th. Finally, BTIG Research cut their price objective on Roblox from $54.00 to $46.00 and set a “buy” rating for the company in a report on Friday, May 10th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.15.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.