Roblox Corporation $RBLX Stock Position Decreased by Erste Asset Management GmbH

Erste Asset Management GmbH lessened its position in Roblox Corporation (NYSE:RBLX) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 333,785 shares of the company’s stock after selling 16,699 shares during the period. Erste Asset Management GmbH owned approximately 0.05% of Roblox worth $27,063,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Baird Financial Group Inc. increased its holdings in shares of Roblox by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after acquiring an additional 102 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after acquiring an additional 105 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Roblox by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock worth $560,000 after acquiring an additional 110 shares during the period. Westpac Banking Corp increased its holdings in shares of Roblox by 0.6% in the 3rd quarter. Westpac Banking Corp now owns 20,043 shares of the company’s stock worth $2,776,000 after acquiring an additional 115 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Roblox by 1.3% in the 2nd quarter. NewEdge Advisors LLC now owns 10,374 shares of the company’s stock worth $1,091,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on RBLX shares. Wall Street Zen cut shares of Roblox from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. BTIG Research cut shares of Roblox from a “buy” rating to a “neutral” rating in a report on Friday, May 1st. Canaccord Genuity Group dropped their price objective on shares of Roblox from $140.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $62.00 price objective on shares of Roblox in a report on Friday, May 1st. Finally, UBS Group dropped their price objective on shares of Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.07.

Roblox Stock Up 0.2%

Roblox stock opened at $41.92 on Monday. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of -26.53 and a beta of 1.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. The company’s 50-day moving average price is $51.24 and its two-hundred day moving average price is $67.20. Roblox Corporation has a 52 week low of $40.15 and a 52 week high of $150.59.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. Roblox’s quarterly revenue was up 43.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) EPS. On average, analysts expect that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Gregory Baszucki sold 16,666 shares of Roblox stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $57.95, for a total value of $965,794.70. Following the transaction, the director owned 1,302,834 shares of the company’s stock, valued at $75,499,230.30. The trade was a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 18,653 shares of Roblox stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $57.94, for a total transaction of $1,080,754.82. Following the completion of the transaction, the insider directly owned 455,473 shares in the company, valued at $26,390,105.62. This represents a 3.93% decrease in their position. 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. Insiders have sold 183,471 shares of company stock worth $8,930,068 in the last 90 days. 10.05% of the stock is currently owned by corporate 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.