Sumitomo Mitsui Trust Group Inc. Trims Stock Position in Roblox Co. (NYSE:RBLX)

Sumitomo Mitsui Trust Group Inc. decreased its position in Roblox Co. (NYSE:RBLX) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,747,869 shares of the company’s stock after selling 1,276,731 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Roblox were worth $448,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc lifted its position in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Roblox in the 3rd quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its position in shares of Roblox by 20,800.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. GAMMA Investing LLC increased its holdings in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares during the last quarter. Finally, Huntington National Bank raised its position in Roblox by 277.0% in the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock valued at $46,000 after purchasing an additional 770 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Stock Down 11.1 %

RBLX opened at $67.10 on Friday. The stock has a market capitalization of $40.77 billion, a P/E ratio of -40.92 and a beta of 1.46. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox Co. has a one year low of $29.55 and a one year high of $75.74. The business’s 50-day simple moving average is $62.14 and its 200-day simple moving average is $50.44.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. Analysts anticipate that Roblox Co. will post -1.56 EPS for the current year.

Insider Buying and Selling at Roblox

In related news, insider Mark Reinstra sold 16,480 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total transaction of $847,566.40. Following the completion of the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at $14,305,820.23. This trade represents a 5.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 138,555 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the completion of the transaction, the chief executive officer now directly owns 129,301 shares in the company, valued at $9,260,537.62. This represents a 51.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and set a $72.00 price target (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Canaccord Genuity Group lifted their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays increased their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Benchmark lifted their price objective on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.05.

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.