Swedbank AB Raises Holdings in Roblox Corporation $RBLX

Swedbank AB grew its position in shares of Roblox Corporation (NYSE:RBLX) by 4.6% in the fourth quarter, HoldingsChannel reports. The firm owned 310,632 shares of the company’s stock after buying an additional 13,545 shares during the quarter. Swedbank AB’s holdings in Roblox were worth $25,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC grew its position in shares of Roblox by 17.8% during the third quarter. WPG Advisers LLC now owns 555 shares of the company’s stock valued at $77,000 after purchasing an additional 84 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Roblox by 1.4% during the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after purchasing an additional 102 shares in the last quarter. Sunbelt Securities Inc. lifted 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 valued at $39,000 after acquiring an additional 105 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Roblox by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock worth $560,000 after acquiring an additional 110 shares in the last quarter. Finally, QTR Family Wealth LLC grew its position in Roblox by 2.6% in the third quarter. QTR Family Wealth LLC now owns 4,446 shares of the company’s stock worth $616,000 after acquiring an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Stock Down 6.5%

Shares of NYSE RBLX opened at $41.88 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $28.12 billion, a P/E ratio of -26.50 and a beta of 1.50. Roblox Corporation has a 1 year low of $41.66 and a 1 year high of $150.59. The firm has a 50-day simple moving average of $58.29 and a two-hundred day simple moving average of $77.59.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.32) earnings per share. Research analysts anticipate that Roblox Corporation will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on RBLX shares. Freedom Capital upgraded Roblox from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. HSBC lowered Roblox from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a research report on Friday, May 1st. TD Cowen upgraded Roblox from a “sell” rating to a “hold” rating and dropped their price target for the stock from $54.00 to $49.00 in a research report on Friday, May 1st. Needham & Company LLC started coverage on Roblox in a research report on Friday, May 1st. They issued a “buy” rating and a $60.00 price target for the company. Finally, Roth Mkm set a $65.00 price target on Roblox in a research report on Tuesday. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $87.17.

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 18,653 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $57.94, for a total value of $1,080,754.82. Following the completion of the sale, the insider owned 455,473 shares of the company’s stock, valued at $26,390,105.62. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arvind Chakravarthy sold 40,646 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. The disclosure for this sale is available in the SEC filing. Insiders have sold 568,662 shares of company stock valued at $39,170,616 over the last quarter. Corporate insiders own 12.92% of the company’s stock.

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.