Kentucky Retirement Systems Purchases Shares of 35,855 Roblox Corporation (NYSE:RBLX)

Kentucky Retirement Systems acquired a new stake in shares of Roblox Corporation (NYSE:RBLX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,855 shares of the company’s stock, valued at approximately $2,090,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC increased its holdings in shares of Roblox by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock worth $1,873,000 after buying an additional 161 shares during the last quarter. Rakuten Securities Inc. increased its stake in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after acquiring an additional 195 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after acquiring an additional 230 shares during the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in Roblox by 2.5% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 13,614 shares of the company’s stock worth $794,000 after purchasing an additional 327 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 454,963 shares of Roblox stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $100.61, for a total value of $45,773,827.43. Following the completion of the transaction, the chief executive officer now owns 211,559 shares of the company’s stock, valued at $21,284,950.99. The trade was a 68.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher Carvalho sold 64,925 shares of Roblox stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $100.08, for a total value of $6,497,694.00. Following the completion of the transaction, the director now owns 986,913 shares of the company’s stock, valued at approximately $98,770,253.04. The trade was a 6.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,417,995 shares of company stock worth $553,295,933. Corporate insiders own 12.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RBLX shares. Piper Sandler reissued an “overweight” rating and set a $105.00 target price (up previously from $85.00) on shares of Roblox in a research report on Thursday, June 5th. The Goldman Sachs Group increased their price objective on shares of Roblox from $63.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Canaccord Genuity Group increased their price objective on shares of Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. FBN Securities initiated coverage on Roblox in a report on Friday, March 28th. They issued a “sector perform” rating and a $65.00 price target for the company. Finally, Morgan Stanley lowered their price target on Roblox from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.04.

Roblox Stock Up 1.4%

RBLX stock opened at $103.53 on Tuesday. Roblox Corporation has a twelve month low of $34.62 and a twelve month high of $104.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. The company has a market capitalization of $70.22 billion, a P/E ratio of -77.26 and a beta of 1.56. The firm has a 50 day simple moving average of $80.51 and a 200-day simple moving average of $68.03.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the business earned ($0.43) EPS. On average, equities research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.