Principal Financial Group Inc. Sells 78,870 Shares of Roblox Corporation $RBLX

Principal Financial Group Inc. trimmed its position in Roblox Corporation (NYSE:RBLX) by 79.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,619 shares of the company’s stock after selling 78,870 shares during the period. Principal Financial Group Inc.’s holdings in Roblox were worth $2,856,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. National Pension Service boosted its stake in Roblox by 7.3% in the third quarter. National Pension Service now owns 1,697,820 shares of the company’s stock valued at $235,182,000 after acquiring an additional 115,096 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Roblox by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock worth $6,222,993,000 after purchasing an additional 1,513,608 shares during the period. SG Americas Securities LLC lifted its stake in Roblox by 298.4% in the third quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock valued at $45,617,000 after purchasing an additional 246,652 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Roblox during the second quarter valued at $120,041,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in Roblox in the third quarter worth $2,895,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $115.00 price target on Roblox in a research report on Tuesday, January 20th. Macquarie Infrastructure boosted their price objective on Roblox from $158.00 to $164.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. BTIG Research reiterated a “buy” rating and set a $141.00 target price on shares of Roblox in a research report on Friday, February 6th. Jefferies Financial Group set a $85.00 target price on shares of Roblox in a research note on Thursday, January 15th. Finally, Freedom Capital upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $119.44.

Insider Activity at Roblox

In other news, insider Arvind Chakravarthy sold 40,646 shares of Roblox stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Reinstra sold 34,320 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $72.65, for a total transaction of $2,493,348.00. Following the completion of the transaction, the insider owned 454,322 shares in the company, valued at approximately $33,006,493.30. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 789,521 shares of company stock valued at $61,989,659 in the last ninety days. 12.92% of the stock is currently owned by corporate insiders.

Roblox Trading Down 0.1%

Shares of Roblox stock opened at $63.09 on Tuesday. The company’s 50-day moving average price is $77.88 and its 200-day moving average price is $105.37. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The company has a market cap of $41.74 billion, a price-to-earnings ratio of -40.70 and a beta of 1.63.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm posted ($0.33) EPS. Roblox’s revenue was up 122.6% on a year-over-year basis. On average, equities analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.