Erste Asset Management GmbH Has $49.62 Million Position in Roblox Corporation $RBLX

Erste Asset Management GmbH reduced its stake in shares of Roblox Corporation (NYSE:RBLX) by 16.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 350,484 shares of the company’s stock after selling 69,553 shares during the period. Erste Asset Management GmbH owned 0.05% of Roblox worth $49,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB grew its stake in Roblox by 1.0% in the third quarter. Handelsbanken Fonder AB now owns 200,212 shares of the company’s stock valued at $27,733,000 after purchasing an additional 2,053 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Roblox by 11.9% during the 3rd quarter. Xponance Inc. now owns 125,582 shares of the company’s stock valued at $17,396,000 after buying an additional 13,355 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Roblox by 114.0% during the 3rd quarter. DNB Asset Management AS now owns 208,295 shares of the company’s stock valued at $28,853,000 after buying an additional 110,974 shares during the last quarter. Choreo LLC grew its stake in shares of Roblox by 3.3% in the 3rd quarter. Choreo LLC now owns 24,840 shares of the company’s stock valued at $3,441,000 after buying an additional 798 shares in the last quarter. Finally, West Family Investments Inc. increased its holdings in Roblox by 30.6% in the third quarter. West Family Investments Inc. now owns 2,871 shares of the company’s stock worth $398,000 after buying an additional 672 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Up 4.9%

RBLX stock opened at $71.38 on Friday. 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 52-week low of $50.10 and a 52-week high of $150.59. The company has a 50-day moving average of $73.90 and a two-hundred day moving average of $102.14. The stock has a market capitalization of $47.23 billion, a price-to-earnings ratio of -46.05 and a beta of 1.63.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the company posted ($0.33) earnings per share. The firm’s revenue for the quarter was up 122.6% on a year-over-year basis. As a group, equities research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current year.

Insider Activity at Roblox

In other news, insider Arvind Chakravarthy sold 40,646 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total value of $2,732,630.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 272,269 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the completion of the sale, the chief executive officer owned 811,373 shares in the company, valued at approximately $58,954,362.18. The trade was a 25.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 769,144 shares of company stock valued at $57,789,280. 12.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBLX. Jefferies Financial Group set a $85.00 target price on shares of Roblox in a research report on Thursday, January 15th. Wells Fargo & Company set a $97.00 price objective on shares of Roblox in a research note on Monday, February 9th. UBS Group set a $74.00 target price on shares of Roblox in a research report on Friday, February 6th. JPMorgan Chase & Co. cut their target price on Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Finally, Roth Mkm upgraded Roblox from a “neutral” rating to a “buy” rating and upped their price target for the stock from $78.00 to $84.00 in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.44.

Roblox Company 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.