Pacer Advisors Inc. Lowers Stock Holdings in Roblox Corporation $RBLX

Pacer Advisors Inc. lessened its stake in Roblox Corporation (NYSE:RBLX) by 98.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,948 shares of the company’s stock after selling 99,879 shares during the period. Pacer Advisors Inc.’s holdings in Roblox were worth $110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBLX. Allspring Global Investments Holdings LLC increased its holdings in shares of Roblox by 379.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock worth $53,102,000 after purchasing an additional 729,379 shares during the last quarter. Glynn Capital Management LLC purchased a new position in shares of Roblox in the fourth quarter valued at $5,706,000. Militia Capital Management LLC bought a new stake in Roblox in the first quarter worth $2,590,000. Spyglass Capital Management LLC purchased a new stake in Roblox during the first quarter valued at $44,116,000. Finally, Engineers Gate Manager LP lifted its position in Roblox by 97.0% during the fourth quarter. Engineers Gate Manager LP now owns 293,744 shares of the company’s stock valued at $23,802,000 after purchasing an additional 144,600 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Roblox news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $57.69, for a total transaction of $961,461.54. Following the completion of the sale, the director directly owned 1,277,835 shares of the company’s stock, valued at approximately $73,718,301.15. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Matthew D. Kaufman sold 14,356 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total transaction of $649,896.12. Following the completion of the sale, the insider owned 349,964 shares in the company, valued at $15,842,870.28. This represents a 3.94% 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 161,983 shares of company stock valued at $7,455,828 over the last three months. Corporate insiders own 10.05% of the company’s stock.

Roblox Stock Down 1.5%

Shares of NYSE RBLX opened at $35.68 on Thursday. 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 market capitalization of $23.91 billion, a PE ratio of -24.95 and a beta of 1.46. The stock’s fifty day simple moving average is $47.75 and its two-hundred day simple moving average is $54.24. Roblox Corporation has a 12-month low of $33.88 and a 12-month high of $142.00.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.08. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.41) EPS. As a group, analysts expect that Roblox Corporation will post -1.39 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Roth Capital set a $65.00 target price on shares of Roblox in a research report on Tuesday, May 5th. Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. BMO Capital Markets cut shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 price target on the stock. in a report on Friday, July 31st. Bank of America downgraded shares of Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research note on Friday, May 1st. Finally, Moffett Nathanson reissued a “neutral” rating and issued a $40.00 price objective on shares of Roblox in a research report on Monday, August 3rd. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.89.

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.