According to Defense World, New York Life (NYL) Investment Management LLC sells 533 shares of Roblox Co. (NYSE:RBLX).
Key Points
Investment firm New York Life recently decreased its holdings in Roblox (NYSE: RBLX) stock by 6.3% last quarter. After selling some shares, New York Life now owns about 7,943 RBLX shares worth around $357,000.
Multiple stock analysts have adjusted their Roblox price targets and ratings lately. Some examples: DA Davidson and Stifel Nicolaus lowered targets but still rate RBLX a “buy.” Citigroup cut its target to $51 but also says “buy.”
Currently, 6 analysts rate Roblox stock as a “sell,” 5 have a “hold” rating, and 13 give RBLX a “buy” rating.
Key Roblox stats: Market cap $15.59 billion, P/E ratio -14.63, beta 1.61. In Q1, EPS met estimates at -$0.46, revenue was slightly under forecasts.
On May 22nd, Roblox CTO Daniel Sturman sold some RBLX shares. After the sale, he still owns about 525,000 shares worth around $20 million.
Roblox operates an online gaming and entertainment platform. Its products include Roblox Studio, Client, Education, and Cloud.
The fund decreased its holdings in Roblox by 6.3% during the first 3 months of the year.
After selling those shares, SEC filings show the fund was left with 7,943 shares of RBLX. With the stock price where it was then, the value of those 7,943 shares worked out to around $357,000.
Worth Knowing, Roblox Suffered A Net Loss of Almost $1 Billion in 2022
Several other large investors also changed their positions in Roblox.
Allworth Financial LP increased its stake by 31.5%, purchasing an additional 470 shares in the last quarter, thereby owning 1,964 shares valued at $88,000.
Natixis, on the other hand, escalated its position by a staggering 423.8%, now owning 70,552 shares valued at around $1,995,000.
K.J. Harrison & Partners Inc acquired a new stake in Roblox during the first quarter, valued at $675,000, while KBC Group NV increased its holdings by 400.5%, owning 98,112 shares worth $4,413,000.
Lindbrook Capital LLC also increased its stake by 58.8% and now owns 1,185 shares valued at $53,000.
Institutional investors and hedge funds now own 64.57% of the company’s stock.
Analysts’ Take on Roblox
Now, what do the experts think about Roblox stock? Well, many stock analysts have been sharing their views recently.
Truist Financial lowered their target price from $45.00 to $35.00 and set a “hold” rating for the company.
DA Davidson and Stifel Nicolaus lowered their Roblox price targets. DA Davidson still rates RBLX stock as a “buy.”
Citigroup also cut its price target on Roblox, from $53 down to $51 per share. But they still give RBLX a “buy” rating.
On the other hand, VNET Group maintained its rating on Roblox’s shares.
Looking at the overall analyst consensus, 6 analysts currently rate RBLX stock as a “sell”. 5 analysts have a “hold” rating on the stock. And 13 analysts give Roblox a “buy” rating.
According to MarketBeat, Roblox currently holds a consensus rating of “Hold” with an average price target of $38.04.
Roblox’s Market Performance
As per the latest update, shares of RBLX stock opened at $27.51 on Friday.
To give you some key stats on Roblox:
The company’s total market value right now is about $15.59 billion. Its P/E ratio is -14.63. And RBLX has a beta of 1.61, meaning it’s more volatile than the overall stock market.
Roblox last issued its earnings results on Wednesday, August 9th.
Looking at Roblox’s most recent quarterly results, the company reported earnings per share of negative $0.46. This met Wall Street’s estimates.
Revenue for the quarter came in at $780.69 million. This was slightly under the $784.99 million analysts had forecasted.
Roblox had a negative return on equity of 399.93% and a negative net margin of 46.81%.
Insider Activity
Here’s one other recent news item about Roblox:
- On May 22nd, Roblox’s Chief Technology Officer Daniel Sturman sold 9,530 shares of RBLX stock. He sold at a price of $39.64 per share, for total proceeds of $377,769.20.
- After the sale, Sturman still owns 525,732 Roblox shares. At current values, those remaining shares are worth about $20.8 million.
- Additionally, insider Mark Reinstra sold 11,278 shares at an average price of $39.63, for a total value of $446,947.14.
About Roblox Corporation
For those unfamiliar, Roblox operates an online gaming and entertainment platform.
The company offers several key products:
- Roblox Studio – tools for developers to build 3D experiences
- Roblox Client – an app for users to explore the Roblox digital world
- Roblox Education – learning experiences
- Roblox Cloud – a service that powers the platform
So in a nutshell, New York Life (NYL) Investment Management LLC sells 533 shares of Roblox Co..
FAQs
Roblox operates an online gaming and entertainment platform. Users can create, share, and enjoy immersive 3D experiences.
Some of their main offerings are Roblox Studio, Client, Education, and Cloud. These tools allow users to build, explore, and power experiences on the platform.
A few developments: An investment firm called New York Life decreased its RBLX holdings. Several analysts adjusted price targets and ratings for Roblox shares. And Roblox’s CTO sold some of his personal RBLX stock.
Currently 6 analysts give RBLX a “sell” rating, 5 have it as a “hold,” and 13 rate it a “buy.”
In Q1, Roblox met EPS estimates with -$0.46. But revenue came in slightly under forecasts at $780 million.
Roblox has a market cap around $15.59 billion. Its P/E ratio is -14.63.