Bank of New York Mellon Corp Has $75.10 Million Stock Holdings in Roblox Co. (NYSE:RBLX)

Bank of New York Mellon Corp raised its holdings in Roblox Co. (NYSE:RBLX) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,018,198 shares of the company’s stock after purchasing an additional 102,897 shares during the quarter. Bank of New York Mellon Corp owned 0.34% of Roblox worth $75,097,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox during the 1st quarter valued at $39,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after acquiring an additional 548 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Roblox during the 4th quarter valued at $59,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Roblox during the 1st quarter valued at $52,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RBLX shares. Roth Capital downgraded Roblox from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 14th. Barclays raised their price objective on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their price objective on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Wolfe Research started coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Needham & Company LLC raised their target price on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.15.

Roblox Stock Performance

RBLX stock opened at $43.57 on Friday. The stock has a 50-day moving average price of $39.61 and a 200-day moving average price of $38.05. Roblox Co. has a 1-year low of $24.88 and a 1-year high of $47.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The firm has a market cap of $25.76 billion, a PE ratio of -23.42 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $893.50 million during the quarter, compared to analyst estimates of $897.88 million. During the same period in the previous year, the company posted ($0.46) EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. As a group, equities research analysts expect that Roblox Co. will post -1.59 earnings per share for the current year.

Insider Activity at Roblox

In related news, CFO Michael Guthrie sold 900 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $35.00, for a total value of $31,500.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $13,112,155. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Roblox news, CAO Amy Marie Rawlings sold 12,258 shares of Roblox stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $44.09, for a total transaction of $540,455.22. Following the completion of the transaction, the chief accounting officer now owns 87,360 shares in the company, valued at approximately $3,851,702.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Guthrie sold 900 shares of Roblox stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total value of $31,500.00. Following the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $13,112,155. The disclosure for this sale can be found here. Insiders sold 730,649 shares of company stock valued at $29,104,359 in the last three months. Corporate insiders own 22.15% of the company’s stock.

About Roblox

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.