Handelsbanken Fonder AB Sells 108,943 Shares of Roblox Corporation $RBLX

Handelsbanken Fonder AB lessened its stake in Roblox Corporation (NYSE:RBLX) by 38.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,250 shares of the company’s stock after selling 108,943 shares during the period. Handelsbanken Fonder AB’s holdings in Roblox were worth $9,639,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RBLX. Redhawk Wealth Advisors Inc. bought a new stake in shares of Roblox during the 2nd quarter worth $226,000. Wealthcare Advisory Partners LLC increased its stake in Roblox by 13.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 30,034 shares of the company’s stock valued at $1,633,000 after acquiring an additional 3,498 shares during the last quarter. Chemistry Wealth Management LLC raised its position in Roblox by 27.1% during the second quarter. Chemistry Wealth Management LLC now owns 17,265 shares of the company’s stock valued at $939,000 after purchasing an additional 3,679 shares in the last quarter. Polianta Ltd raised its position in Roblox by 56.5% during the second quarter. Polianta Ltd now owns 42,100 shares of the company’s stock valued at $2,289,000 after purchasing an additional 15,200 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in Roblox by 35.5% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock worth $7,076,000 after purchasing an additional 34,120 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Stock Performance

Shares of RBLX stock opened at $37.94 on Friday. The company has a market capitalization of $25.42 billion, a P/E ratio of -26.53 and a beta of 1.46. Roblox Corporation has a fifty-two week low of $33.88 and a fifty-two week high of $142.00. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $47.64 and a two-hundred day moving average price of $53.98.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business earned ($0.41) earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Analysts expect that Roblox Corporation will post -1.39 earnings per share for the current year.

Roblox announced that its Board of Directors has authorized a share buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Roblox news, Director Gregory Baszucki sold 16,666 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $37.46, for a total value of $624,308.36. Following the transaction, the director owned 1,269,502 shares in the company, valued at approximately $47,555,544.92. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 4,512 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $57.34, for a total transaction of $258,718.08. Following the transaction, the insider directly owned 422,248 shares of the company’s stock, valued at approximately $24,211,700.32. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 161,983 shares of company stock worth $7,455,828. 10.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald initiated coverage on Roblox in a report on Monday, June 29th. They set an “overweight” rating on the stock. UBS Group set a $33.00 price target on shares of Roblox in a research note on Friday, July 31st. Bank of America lowered shares of Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price objective for the company. in a report on Friday, May 1st. BTIG Research cut shares of Roblox from a “neutral” rating to a “sell” rating and set a $30.00 price objective for the company. in a research note on Friday, July 31st. Finally, Arete Research set a $95.00 target price on shares of Roblox and gave the company a “buy” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.89.

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.