Westpac Banking Corp Has $671,000 Position in Roblox Co. (NYSE:RBLX)

Westpac Banking Corp lowered its position in Roblox Co. (NYSE:RBLX) by 79.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,655 shares of the company’s stock after selling 65,592 shares during the quarter. Westpac Banking Corp’s holdings in Roblox were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RBLX. BlackRock Inc. boosted its holdings in shares of Roblox by 11.0% during the 1st quarter. BlackRock Inc. now owns 22,418,113 shares of the company’s stock worth $1,008,367,000 after buying an additional 2,219,142 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Roblox by 39.4% during the first quarter. Vanguard Group Inc. now owns 16,084,809 shares of the company’s stock worth $743,762,000 after purchasing an additional 4,546,253 shares during the period. FMR LLC raised its position in shares of Roblox by 7.9% during the first quarter. FMR LLC now owns 16,071,655 shares of the company’s stock worth $722,903,000 after purchasing an additional 1,178,135 shares during the period. ARK Investment Management LLC raised its position in shares of Roblox by 3.2% during the second quarter. ARK Investment Management LLC now owns 9,318,548 shares of the company’s stock worth $375,537,000 after purchasing an additional 292,068 shares during the period. Finally, State Street Corp raised its position in shares of Roblox by 23.3% during the third quarter. State Street Corp now owns 8,122,366 shares of the company’s stock worth $291,106,000 after purchasing an additional 1,535,510 shares during the period. 69.92% of the stock is currently owned by institutional investors.

Roblox Stock Performance

Shares of RBLX opened at $37.91 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 8.38. The stock has a 50-day moving average price of $31.31 and a 200-day moving average price of $35.09. Roblox Co. has a 12-month low of $24.88 and a 12-month high of $47.65.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.07. The firm had revenue of $839.45 million during the quarter, compared to the consensus estimate of $824.71 million. Roblox had a negative return on equity of 536.12% and a negative net margin of 42.54%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.50) EPS. Equities analysts expect that Roblox Co. will post -1.9 earnings per share for the current year.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 3,089 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $27.14, for a total transaction of $83,835.46. Following the transaction, the chief accounting officer now directly owns 92,556 shares of the company’s stock, valued at approximately $2,511,969.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roblox news, CFO Michael Guthrie sold 14,363 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $27.14, for a total value of $389,811.82. Following the sale, the chief financial officer now directly owns 272,937 shares of the company’s stock, valued at $7,407,510.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 3,089 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $27.14, for a total value of $83,835.46. Following the completion of the sale, the chief accounting officer now directly owns 92,556 shares in the company, valued at $2,511,969.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,200 shares of company stock valued at $1,861,227. Corporate insiders own 27.67% of the company’s stock.

Analyst Upgrades and Downgrades

RBLX has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and issued a $48.00 price target on shares of Roblox in a research report on Friday, October 13th. Citigroup lowered their price target on Roblox from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, August 17th. JPMorgan Chase & Co. increased their price target on Roblox from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday. Truist Financial raised Roblox from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $37.00 in a research report on Friday, October 27th. Finally, Raymond James increased their price target on Roblox from $41.00 to $47.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

About Roblox

Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.