CANADA LIFE ASSURANCE Co Boosts Holdings in Roblox Co. (NYSE:RBLX)

CANADA LIFE ASSURANCE Co increased its stake in shares of Roblox Co. (NYSE:RBLX) by 29.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 228,935 shares of the company’s stock after buying an additional 51,893 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Roblox were worth $8,748,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RBLX. Global Retirement Partners LLC increased its stake in shares of Roblox by 7.8% in the fourth quarter. Global Retirement Partners LLC now owns 4,423 shares of the company’s stock worth $202,000 after purchasing an additional 320 shares in the last quarter. Mystic Asset Management Inc. increased its stake in shares of Roblox by 4.0% in the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after purchasing an additional 325 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Roblox by 0.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,996 shares of the company’s stock worth $4,297,000 after purchasing an additional 458 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Roblox by 98.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after purchasing an additional 548 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in shares of Roblox by 35.0% in the first quarter. Lindbrook Capital LLC now owns 2,210 shares of the company’s stock worth $84,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent research reports. Macquarie initiated coverage on shares of Roblox in a research note on Friday, June 14th. They issued an “outperform” rating and a $46.00 target price for the company. Needham & Company LLC reduced their price objective on shares of Roblox from $55.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Roth Capital cut shares of Roblox from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Canaccord Genuity Group reduced their price objective on shares of Roblox from $56.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Wedbush reduced their price objective on shares of Roblox from $56.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.59.

Roblox Trading Up 1.5 %

NYSE:RBLX opened at $40.56 on Friday. The company has a fifty day moving average of $36.58 and a 200 day moving average of $38.13. Roblox Co. has a 52 week low of $24.88 and a 52 week high of $47.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 16.04. The firm has a market capitalization of $23.98 billion, a P/E ratio of -21.81 and a beta of 1.59.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The company had revenue of $923.76 million during the quarter, compared to analyst estimates of $918.85 million. During the same period in the prior year, the business posted ($0.44) EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. On average, research analysts predict that Roblox Co. will post -1.67 earnings per share for the current year.

Insider Activity at Roblox

In related news, CFO Michael Guthrie sold 22,076 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $718,794.56. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $12,198,050.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Roblox news, CEO David Baszucki sold 166,668 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the transaction, the chief executive officer now directly owns 142,260 shares of the company’s stock, valued at approximately $5,720,274.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 22,076 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $718,794.56. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at $12,198,050.48. The disclosure for this sale can be found here. Insiders sold 463,889 shares of company stock worth $17,050,105 in the last three months. 22.15% of the stock is owned by insiders.

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.