Assetmark Inc. Sells 23,085 Shares of Roblox Corporation $RBLX

Assetmark Inc. trimmed its position in shares of Roblox Corporation (NYSE:RBLX) by 31.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,560 shares of the company’s stock after selling 23,085 shares during the quarter. Assetmark Inc.’s holdings in Roblox were worth $2,860,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in shares of Roblox by 58.7% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after acquiring an additional 105 shares in the last quarter. Horizon Investments LLC increased its stake in Roblox by 2,636.4% during the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company’s stock valued at $42,000 after purchasing an additional 290 shares in the last quarter. Reyes Financial Architecture Inc. raised its holdings in shares of Roblox by 164.4% in the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after buying an additional 194 shares during the last quarter. Fideuram Asset Management Ireland dac acquired a new stake in shares of Roblox during the fourth quarter worth $27,000. Finally, GW&K Investment Management LLC grew its holdings in shares of Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

Trending Headlines about Roblox

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Barclays reiterated its Hold rating on Roblox, which may help limit downside by signaling the stock still has some analyst support. Article: Barclays Sticks to Its Hold Rating for Roblox (RBLX)
• Neutral Sentiment: Roblox continues to attract attention around its new Build AI-powered creation tool, which could improve long-term user engagement and creation activity, but the impact on near-term earnings remains uncertain. Article: Roblox (RBLX) Unveiled Build, Is The Stock Fully Priced?
• Neutral Sentiment: The company is also expected to report earnings soon, keeping investors focused on upcoming fundamentals rather than just litigation headlines. Article: Roblox (RBLX) to Release Earnings on Thursday
• Negative Sentiment: Several law firms, including Rosen, Bernstein Liebhard, Pomerantz, Hagens Berman, Faruqi & Faruqi, and Robbins Geller, issued investor alerts tied to an expanded securities class action, reinforcing legal overhang on the stock. Article: RBLX DEADLINE NOTICE: ROSEN, SKILLED INVESTOR COUNSEL…
• Negative Sentiment: The class period in the lawsuit was expanded to cover a longer stretch of trading, which can broaden the pool of potential claimants and intensify investor concern. Article: RBLX INVESTOR ALERT: Roblox Corporation (RBLX) Investors with Substantial Losses…

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 50,628 shares of the stock in a transaction on Wednesday, May 20th. The shares were 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 trade represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction, the insider directly owned 97,141 shares in the company, valued at approximately $4,503,456.76. The trade was a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 161,983 shares of company stock worth $7,580,990 in the last ninety days. Company insiders own 10.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RBLX shares. Canaccord Genuity Group reduced their target price on Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Cantor Fitzgerald began coverage on Roblox in a research report on Monday, June 29th. They issued an “overweight” rating on the stock. Arete Research set a $95.00 price target on shares of Roblox and gave the stock a “buy” rating in a report on Monday, June 29th. Jefferies Financial Group lowered shares of Roblox from a “hold” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Piper Sandler set a $60.00 target price on shares of Roblox in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.85.

Roblox Stock Performance

Shares of RBLX stock opened at $47.57 on Friday. The company has a market capitalization of $31.95 billion, a P/E ratio of -30.11 and a beta of 1.41. The business’s 50 day moving average is $49.17 and its two-hundred day moving average is $58.04. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned ($0.32) earnings per share. Roblox’s quarterly revenue was up 43.4% compared to the same quarter last year. Analysts expect that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to buy up to 9.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Roblox Company 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.