Employees Retirement System of Texas Has $3.07 Million Position in Roblox Corporation $RBLX

Employees Retirement System of Texas reduced its stake in Roblox Corporation (NYSE:RBLX) by 55.9% in the 4th quarter, Holdings Channel reports. The firm owned 37,938 shares of the company’s stock after selling 48,008 shares during the period. Employees Retirement System of Texas’ holdings in Roblox were worth $3,074,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its position in Roblox by 199.2% during the 4th quarter. Harbour Investments Inc. now owns 2,361 shares of the company’s stock worth $191,000 after acquiring an additional 1,572 shares during the last quarter. Allstate Corp lifted its position in Roblox by 119.0% during the 4th quarter. Allstate Corp now owns 44,408 shares of the company’s stock worth $3,598,000 after acquiring an additional 24,127 shares during the last quarter. Legal & General Group Plc lifted its position in Roblox by 1.5% during the 4th quarter. Legal & General Group Plc now owns 2,721,252 shares of the company’s stock worth $220,503,000 after acquiring an additional 40,981 shares during the last quarter. Swedbank AB lifted its position in Roblox by 4.6% during the 4th quarter. Swedbank AB now owns 310,632 shares of the company’s stock worth $25,171,000 after acquiring an additional 13,545 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Roblox during the 4th quarter worth $272,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on RBLX shares. Canaccord Genuity Group cut their price target on Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 1st. Bank of America lowered Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a report on Friday, March 27th. HSBC lowered Roblox from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a report on Friday, May 1st. Finally, Barclays cut their price target on Roblox from $115.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $87.07.

Roblox Stock Performance

Shares of NYSE RBLX opened at $45.73 on Thursday. Roblox Corporation has a one year low of $40.15 and a one year high of $150.59. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $30.71 billion, a price-to-earnings ratio of -28.95 and a beta of 1.50. The business has a fifty day simple moving average of $52.92 and a 200 day simple moving average of $70.09.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business posted ($0.32) earnings per share. The company’s quarterly revenue was up 43.4% compared to the same quarter last year. Sell-side analysts expect that Roblox Corporation will post -1.4 EPS for the current year.

Roblox announced that its board has authorized a stock buyback program on Tuesday, May 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 50,628 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the completion of the transaction, the chief executive officer directly owned 852,214 shares in the company, valued at $38,588,249.92. This represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,356 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the transaction, the insider owned 349,964 shares of the company’s stock, valued at $15,842,870.28. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 183,471 shares of company stock valued at $8,930,068. Corporate insiders own 10.05% of the company’s stock.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.