Alberta Investment Management Corp Lowers Stake in Roblox Corporation $RBLX

Alberta Investment Management Corp lessened its stake in Roblox Corporation (NYSE:RBLX) by 21.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 41,500 shares of the company’s stock after selling 11,400 shares during the period. Alberta Investment Management Corp’s holdings in Roblox were worth $5,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Roblox during the second quarter worth approximately $350,720,000. Vanguard Group Inc. increased its stake in Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock valued at $8,648,911,000 after buying an additional 3,284,073 shares during the period. Federated Hermes Inc. increased its stake in Roblox by 103.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock valued at $341,410,000 after buying an additional 1,646,871 shares during the period. Massachusetts Financial Services Co. MA raised its position in Roblox by 47.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock worth $503,718,000 after buying an additional 1,531,380 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Roblox by 359.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock worth $191,295,000 after acquiring an additional 1,422,894 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Roblox

In related news, insider Mark Reinstra sold 34,320 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total value of $2,493,348.00. Following the completion of the transaction, the insider owned 454,322 shares of the company’s stock, valued at approximately $33,006,493.30. The trade was a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew D. Kaufman sold 30,034 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the completion of the transaction, the insider owned 307,263 shares in the company, valued at approximately $22,322,656.95. This trade represents a 8.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 698,310 shares of company stock valued at $53,285,181. 12.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RBLX shares. Roth Mkm raised Roblox from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $84.00 in a report on Monday, February 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Roblox in a research report on Friday, February 6th. Oppenheimer reduced their target price on Roblox from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 6th. BTIG Research reaffirmed a “buy” rating and set a $141.00 price target on shares of Roblox in a research note on Friday, February 6th. Finally, Citigroup reduced their price objective on shares of Roblox from $152.00 to $119.00 and set a “buy” rating for the company in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.44.

Roblox Trading Up 0.2%

Shares of RBLX opened at $63.10 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. Roblox Corporation has a 1-year low of $50.10 and a 1-year high of $150.59. The stock has a market cap of $41.75 billion, a price-to-earnings ratio of -40.71 and a beta of 1.63. The firm has a 50 day simple moving average of $76.53 and a 200-day simple moving average of $104.63.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.Roblox’s quarterly revenue was up 122.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.33) EPS. Equities analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

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.