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 27.55% to 27.51 million shares with purchase of 5.94 million shares. This fresh investment now brings its stake to 5.05% valued currently at $1.23 billion. In addition, Baillie Gifford & Co. raised its holdings by 6.12 million to 20.91 million shares. And BlackRock Fund Advisors has lifted its position by 57.57% or 5.08 million shares – to 13.89 million shares.
With over 11.02 million Roblox Corporation (RBLX) shares trading Friday and a closing price of $31.72 on the day, the dollar volume was approximately $349.56 million. The shares have shown a positive half year performance of 0.38% and its price on 11/18/22 lost nearly -2.49%. Currently, there are 597.78M common shares owned by the public and among those 473.61M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for RBLX have a consensus price objective of $37.71. The analysts have set the share’s price value over the next 12 months at a high of $54.00 and a low of $19.00. The average price target is 20.62% above its recent price level and a downside to the estimated low will see the stock lose -66.95% over that period. But an upside of 41.26% will see the stock hit the forecast high price target while median target price for the stock is $35.00.
Insiders at the company have transacted a total of 358 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 48 of these insider trades were purchases, accounting for 5,385,102 shares. Insider sales of the common stock occurred on 310 occasions, with total insider shares sold totaling 12,751,443 shares.
The top 3 mutual fund holders in Roblox Corporation are Vanguard Total Stock Market Index, Morgan Stanley Instl. Fund-Growth, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 9.0 million shares of the company’s stock, all valued at over $402.57 million. The company bought an additional 52031.0 shares recently to bring their total holdings to about 1.65% of the shares outstanding. Morgan Stanley Instl. Fund-Growth sold -0.44 million shares to see its total holdings shrink to 8.05 million shares valued at over $360.35 million and representing 1.48% of the shares outstanding. Vanguard Mid Cap Index Fund bought 86788.0 shares to bring its total holdings to over 7.01 million shares at a value of $313.51 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.29% of the shares outstanding.
Shares of Roblox Corporation (NYSE: RBLX) opened at $33.08, up $0.55 from a prior closing price of $32.53. However, the script later moved the day high at 33.13, down -2.49%. The company’s stock has a 5-day price change of -13.66% and -23.57% over the past three months. RBLX shares are trading -69.25% year to date (YTD), with the 12-month market performance down to -74.85% lower. It has a 12-month low price of $21.65 and touched a high of $141.60 over the same period. RBLX has an average intraday trading volume of 18.48 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 -21.05%, -19.36%, and -21.89% respectively.
Institutional ownership of Roblox Corporation (NYSE: RBLX) shares accounts for 74.10% of the company’s 597.78M shares outstanding. Mutual fund holders own 28.98%, while other institutional holders and individual stakeholders account for 37.91% and 25.53% respectively.
It has a market capitalization of $19.54B. The earnings-per-share (ttm) stands at -$1.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.85% over the week and 7.30% over the month.
Analysts forecast that Roblox Corporation (RBLX) will achieve an EPS of -$0.33 for the current quarter, -$0.34 for the next quarter and -$1.43 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.51 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.13 a year ago. Earnings per share for the fiscal year are expected to decrease by -82.40%, and -12.30% over the next financial year.
Looking at the support for the RBLX, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on November 10, 2022, with the firm’s price target at $53-$35. Piper Sandler coverage for the Roblox Corporation (RBLX) stock in a research note released on October 26, 2022 offered a Overweight rating with a price target of $54. DA Davidson was of a view on October 26, 2022 that the stock is Buy, while Barclays gave the stock Underweight rating on October 11, 2022, issuing a price target of $20. MoffettNathanson on their part issued Underperform rating on October 03, 2022.