LGT Fund Management Co Ltd. Sells 20,700 Shares of Roblox Corporation $RBLX

LGT Fund Management Co Ltd. trimmed its holdings in Roblox Corporation (NYSE:RBLX) by 43.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,400 shares of the company’s stock after selling 20,700 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Roblox were worth $3,539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBLX. NewEdge Advisors LLC increased its stake in Roblox by 2.3% in the first quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after purchasing an additional 231 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Roblox by 70.2% during the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock valued at $1,368,000 after purchasing an additional 5,363 shares during the period. Atria Investments Inc purchased a new stake in shares of Roblox during the second quarter valued at $217,000. Sigma Planning Corp bought a new position in shares of Roblox in the second quarter worth about $421,000. Finally, SouthState Corp grew its holdings in shares of Roblox by 232.1% in the second quarter. SouthState Corp now owns 435 shares of the company’s stock worth $46,000 after purchasing an additional 304 shares during the last quarter. 94.46% of the stock is owned by institutional investors.

Roblox Stock Down 4.0%

NYSE:RBLX opened at $63.45 on Monday. 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 company has a 50-day moving average of $72.09 and a 200 day moving average of $99.44. The firm has a market cap of $41.98 billion, a PE ratio of -40.94 and a beta of 1.62.

Roblox (NYSE:RBLX) last posted 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. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm posted ($0.33) EPS. The company’s revenue for the quarter was up 122.6% on a year-over-year basis. As a group, research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RBLX has been the subject of a number of research analyst reports. Oppenheimer decreased their price objective on shares of Roblox from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 6th. UBS Group set a $74.00 target price on shares of Roblox in a research note on Friday, February 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Roblox in a research report on Friday, February 6th. Wells Fargo & Company set a $97.00 price target on shares of Roblox in a research note on Monday, February 9th. Finally, Canaccord Genuity Group lowered their price target on Roblox from $160.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.35.

Insider Activity at Roblox

In related news, insider Matthew D. Kaufman sold 30,034 shares of Roblox stock in a transaction that occurred on 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 transaction, the insider directly owned 307,263 shares of the company’s stock, valued at $22,322,656.95. This trade represents a 8.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Arvind Chakravarthy sold 40,646 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 703,144 shares of company stock valued at $51,681,640 over the last quarter. 12.92% of the stock is owned by insiders.

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.