Sumitomo Mitsui Trust Group Inc. Has $399.43 Million Stock Position in Roblox Co. (NYSE:RBLX)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Roblox Co. (NYSE:RBLX) by 9.6% in the 3rd quarter, Holdings Channel reports. The firm owned 9,024,600 shares of the company’s stock after selling 960,217 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Roblox were worth $399,429,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Entropy Technologies LP boosted its stake in shares of Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after acquiring an additional 62,521 shares in the last quarter. Versor Investments LP bought a new position in shares of Roblox in the third quarter valued at approximately $257,000. River Global Investors LLP lifted its position in Roblox by 4.4% during the 3rd quarter. River Global Investors LLP now owns 35,370 shares of the company’s stock worth $1,565,000 after acquiring an additional 1,496 shares during the last quarter. Sigma Planning Corp boosted its holdings in Roblox by 6.6% in the 3rd quarter. Sigma Planning Corp now owns 6,822 shares of the company’s stock valued at $302,000 after purchasing an additional 420 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Roblox by 23.2% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock valued at $19,783,000 after buying an additional 84,198 shares during the period. 91.08% of the stock is currently owned by institutional investors.

Insider Transactions at Roblox

In related news, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the sale, the insider now owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Arvind Chakravarthy sold 592 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total value of $25,645.44. Following the completion of the transaction, the insider now owns 276,892 shares in the company, valued at $11,994,961.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the sale, the insider now owns 342,656 shares in the company, valued at $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,029,373 shares of company stock valued at $46,476,179 over the last three months. Company insiders own 22.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBLX. Raymond James upped their price target on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Wolfe Research started coverage on shares of Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. Finally, Roth Mkm lifted their price objective on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.30.

Roblox Stock Up 4.1 %

NYSE:RBLX opened at $54.56 on Tuesday. The stock has a market cap of $33.15 billion, a price-to-earnings ratio of -33.27 and a beta of 1.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock has a 50-day moving average price of $44.68 and a two-hundred day moving average price of $40.09. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted ($0.45) earnings per share. As a group, equities analysts expect that Roblox Co. will post -1.56 earnings per share for the current year.

Roblox 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.