MML Investors Services LLC Sells 473 Shares of Roblox Co. (NYSE:RBLX)

MML Investors Services LLC lowered its stake in shares of Roblox Co. (NYSE:RBLX) by 6.3% during the third quarter, HoldingsChannel reports. The firm owned 6,980 shares of the company’s stock after selling 473 shares during the quarter. MML Investors Services LLC’s holdings in Roblox were worth $309,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. FMR LLC raised its position in Roblox by 24.5% during the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares in the last quarter. Dragoneer Investment Group LLC raised its holdings in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the period. State Street Corp raised its holdings in shares of Roblox by 2.3% in the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock valued at $480,482,000 after purchasing an additional 240,565 shares during the period. ValueAct Holdings L.P. grew its holdings in Roblox by 340.7% during the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after purchasing an additional 7,835,921 shares during the period. Finally, Two Sigma Advisers LP increased its position in Roblox by 32.9% during the third quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock worth $259,576,000 after buying an additional 1,452,900 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $65.00 in a research note on Monday, November 4th. Citigroup lifted their price objective on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group raised their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, HSBC started coverage on shares of Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective for the company. Seven 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.67.

Roblox Stock Performance

NYSE RBLX opened at $59.56 on Wednesday. The firm’s 50 day simple moving average is $51.12 and its 200 day simple moving average is $44.37. The firm has a market capitalization of $36.19 billion, a price-to-earnings ratio of -36.32 and a beta of 1.50. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $61.77.

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

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 333,334 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $57.31, for a total value of $19,103,371.54. Following the sale, the chief executive officer now owns 129,295 shares in the company, valued at $7,409,896.45. This trade represents a 72.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,260,601 shares of company stock valued at $65,433,735 over the last ninety days. 22.15% of the stock is owned by corporate 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.