Roblox Corporation $RBLX Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH lowered its holdings in Roblox Corporation (NYSE:RBLX) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 333,785 shares of the company’s stock after selling 16,699 shares during the quarter. Erste Asset Management GmbH’s holdings in Roblox were worth $27,063,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RBLX. Norges Bank acquired a new position in shares of Roblox in the 4th quarter worth approximately $435,424,000. Vanguard Group Inc. grew its stake in shares of Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after purchasing an additional 3,284,073 shares during the last quarter. Capital International Investors boosted its holdings in shares of Roblox by 7.3% in the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after buying an additional 2,184,439 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Roblox by 99.5% in the fourth quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock worth $273,693,000 after buying an additional 1,684,411 shares during the period. Finally, State Street Corp boosted its holdings in shares of Roblox by 11.0% in the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock worth $1,851,991,000 after buying an additional 1,326,575 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Activity

In other news, CFO Naveen K. Chopra sold 16,863 shares of Roblox stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total value of $763,556.64. Following the transaction, the chief financial officer owned 380,758 shares of the company’s stock, valued at $17,240,722.24. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Reinstra sold 18,653 shares of Roblox stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $57.94, for a total transaction of $1,080,754.82. Following the completion of the transaction, the insider directly owned 455,473 shares in the company, valued at approximately $26,390,105.62. This represents a 3.93% decrease in their position. 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. In the last 90 days, insiders have sold 183,471 shares of company stock valued at $8,930,068. 10.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on RBLX shares. Roth Mkm set a $65.00 target price on shares of Roblox in a report on Tuesday, May 5th. Wall Street Zen cut shares of Roblox from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Wedbush cut shares of Roblox from a “hold” rating to a “neutral” rating in a report on Friday, May 1st. HSBC cut shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Roblox has a consensus rating of “Hold” and an average target price of $87.07.

Roblox Stock Performance

RBLX stock opened at $41.92 on Monday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $28.15 billion, a P/E ratio of -26.53 and a beta of 1.44. The firm has a 50 day simple moving average of $51.24 and a 200 day simple moving average of $67.20. Roblox Corporation has a 52 week low of $40.15 and a 52 week high of $150.59.

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

Roblox declared that its Board of Directors has initiated a share buyback program on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 9.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Roblox Profile

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.