The Vanguard Group, Inc. recently announced the acquisition of new stake in Roblox Corporation (NYSE:RBLX). The institutional investor has increased its shareholding in the Communication Services company by 29.72% to 43.58 million shares with purchase of 9.99 million shares. This fresh investment now brings its stake to 7.60% valued currently at $1.71 billion. In addition, Morgan Stanley Investment Managem raised its holdings by 4.04 million to 37.51 million shares. And BlackRock Fund Advisors has lifted its position by 11.66% or 1.88 million shares – to 18.02 million shares.
With over 9.98 million Roblox Corporation (RBLX) shares trading Friday and a closing price of $45.97 on the day, the dollar volume was approximately $458.84 million. The shares have shown a positive half year performance of 17.24% and its price on 12/22/23 gained nearly 3.35%. Currently, there are 553.34M common shares owned by the public and among those 466.23M shares have been available to trade.
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Insiders at the company have transacted a total of 212 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 61 of these insider trades were purchases, accounting for 11,911,895 shares. Insider sales of the common stock occurred on 151 occasions, with total insider shares sold totaling 24,450,926 shares.
The top 3 mutual fund holders in Roblox Corporation are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and ARK Innovation ETF. Vanguard Total Stock Market ETF owns 15.11 million shares of the company’s stock, all valued at over $593.79 million. The company bought an additional 18510.0 shares recently to bring their total holdings to about 2.63% of the shares outstanding. Vanguard Mid Cap Index Fund bought 26381.0 shares to see its total holdings expand to 10.94 million shares valued at over $429.95 million and representing 1.91% of the shares outstanding. ARK Innovation ETF sold 64246.0 shares to bring its total holdings to over 8.44 million shares at a value of $331.86 million. ARK Innovation ETF now owns shares totaling to 1.47% of the shares outstanding.
Shares of Roblox Corporation (NYSE: RBLX) opened at $43.47, down -$1.01 from a prior closing price of $44.48. However, the script later moved the day high at 46.12, up 3.35%. The company’s stock has a 5-day price change of 4.67% and 75.86% over the past three months. RBLX shares are trading 61.52% year to date (YTD), with the 12-month market performance up to 63.65% higher. It has a 12-month low price of $24.88 and touched a high of $47.65 over the same period. RBLX has an average intraday trading volume of 10.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.96%, 23.81%, and 24.14% respectively.
Institutional ownership of Roblox Corporation (NYSE: RBLX) shares accounts for 52.81% of the company’s 553.34M shares outstanding. Mutual fund holders own 29.49%, while other institutional holders and individual stakeholders account for 34.77% and 28.19% respectively.
It has a market capitalization of $28.67B and a beta (3y monthly) value of 1.69. The earnings-per-share (ttm) stands at -$1.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.55% over the week and 3.42% over the month.
Analysts forecast that Roblox Corporation (RBLX) will achieve an EPS of -$0.55 for the current quarter, -$0.45 for the next quarter and -$1.84 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.64 while analysts give the company a high EPS estimate of -$0.47. Comparatively, EPS for the current quarter was -$0.48 a year ago. Earnings per share for the fiscal year are expected to decrease by -23.39%, and 1.69% over the next financial year. EPS should grow at an annualized rate of -8.10% over the next five years, compared to -76.18% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate Roblox Corporation (RBLX) as a “Strong Buy” at a consensus score of 1.86. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 5 of the 29 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the RBLX, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on December 13, 2023, with the firm’s price target at $49.
