Handelsbanken Fonder AB Trims Stock Position in Roblox Corporation $RBLX

Handelsbanken Fonder AB cut its stake in Roblox Corporation (NYSE:RBLX) by 38.1% in the 2nd quarter, Holdings Channel reports. The firm 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 quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Reyes Financial Architecture Inc. increased its position in shares of Roblox by 164.4% during the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 194 shares during the period. Hanson & Doremus Investment Management purchased a new stake in Roblox in the first quarter worth about $25,000. Fideuram Asset Management Ireland dac purchased a new stake in Roblox in the fourth quarter worth about $27,000. Basecamp Wealth Advisors LLC boosted its position in Roblox by 98.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after acquiring an additional 252 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in Roblox by 76.3% during the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RBLX has been the subject of several research reports. Morgan Stanley decreased their target price on Roblox from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $47.00 price target (down from $50.00) on shares of Roblox in a research note on Friday, July 31st. Citigroup reduced their price target on Roblox from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Arete Research set a $95.00 price objective on Roblox and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Cantor Fitzgerald started coverage on Roblox in a research report on Monday, June 29th. They set an “overweight” rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.89.

Roblox Price Performance

RBLX stock opened at $37.94 on Friday. The firm has a 50 day moving average price of $47.64 and a 200-day moving average price of $53.98. Roblox Corporation has a 52-week low of $33.88 and a 52-week high of $142.00. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of -26.53 and a beta of 1.46. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82.

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

Roblox announced that its Board of Directors has authorized a stock buyback plan 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 plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $37.46, for a total transaction of $624,308.36. Following the sale, the director directly owned 1,269,502 shares of the company’s stock, valued at approximately $47,555,544.92. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Baszucki sold 50,628 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the sale, the chief executive officer owned 852,214 shares of the company’s stock, valued at approximately $38,588,249.92. This represents a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 161,983 shares of company stock valued at $7,455,828. 10.05% of the stock is currently owned by corporate insiders.

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.