Nykredit A S Acquires Shares of 244,331 Roblox Corporation $RBLX

Nykredit A S acquired a new stake in Roblox Corporation (NYSE:RBLX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 244,331 shares of the company’s stock, valued at approximately $13,287,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sunbelt Securities Inc. raised its holdings in shares of Roblox by 58.7% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after purchasing an additional 105 shares during the last quarter. Horizon Investments LLC grew its position in Roblox by 2,636.4% during the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company’s stock worth $42,000 after purchasing an additional 290 shares during the period. Fideuram Asset Management Ireland dac acquired a new stake in Roblox during the 4th quarter worth about $27,000. GW&K Investment Management LLC raised its stake in shares of 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 buying an additional 161 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Roblox during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 52,568 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $1,995,481.28. Following the completion of the sale, the chief executive officer owned 799,646 shares of the company’s stock, valued at approximately $30,354,562.16. The trade was a 6.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Reinstra sold 17,934 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $680,774.64. Following the transaction, the insider owned 398,064 shares of the company’s stock, valued at $15,110,509.44. This represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 185,441 shares of company stock worth $7,529,354 in the last ninety days. Company insiders own 10.05% of the company’s stock.

Roblox Stock Performance

NYSE RBLX opened at $43.21 on Friday. The stock has a market capitalization of $28.95 billion, a price-to-earnings ratio of -30.22 and a beta of 1.47. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. The stock has a 50-day moving average of $45.46 and a 200 day moving average of $50.83.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share. Sell-side analysts anticipate that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox announced that its board has initiated a stock buyback program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. B. Riley Financial lowered their target price on Roblox from $80.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Wolfe Research downgraded Roblox from an “outperform” rating to a “hold” rating in a report on Friday, July 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut shares of Roblox from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $56.00 to $38.00 in a research note on Friday, July 31st. Finally, DA Davidson set a $40.00 target price on shares of Roblox in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Roblox has a consensus rating of “Hold” and a consensus target price of $60.89.

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.