Forsta AP Fonden Reduces Position in Roblox Co. (NYSE:RBLX)

Forsta AP Fonden trimmed its holdings in shares of Roblox Co. (NYSE:RBLX) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,400 shares of the company’s stock after selling 400 shares during the quarter. Forsta AP Fonden’s holdings in Roblox were worth $3,401,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Roblox by 10.4% during the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after acquiring an additional 4,818,022 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Roblox by 1.9% in the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after buying an additional 535,414 shares during the last quarter. ARK Investment Management LLC increased its holdings in Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after buying an additional 1,519,591 shares during the last quarter. Ieq Capital LLC increased its holdings in Roblox by 27.6% in the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after buying an additional 2,684,713 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Roblox by 17.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company’s stock valued at $371,535,000 after buying an additional 1,491,726 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RBLX. BTIG Research boosted their price objective on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a report on Monday, September 9th. Benchmark boosted their price objective on Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wolfe Research began coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Jefferies Financial Group began coverage on Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Insiders Place Their Bets

In other Roblox news, CFO Michael Guthrie sold 3,443 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.01, for a total value of $154,969.43. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $15,881,508.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roblox news, CFO Michael Guthrie sold 3,443 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.01, for a total value of $154,969.43. Following the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $15,881,508.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the transaction, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. The disclosure for this sale can be found here. Insiders sold 608,675 shares of company stock worth $25,410,923 over the last ninety days. Company insiders own 22.15% of the company’s stock.

Roblox Stock Performance

RBLX opened at $45.87 on Monday. The company has a market capitalization of $27.12 billion, a price-to-earnings ratio of -24.66 and a beta of 1.60. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. Roblox Co. has a 1-year low of $24.88 and a 1-year high of $47.20. The business has a 50 day moving average price of $41.20 and a two-hundred day moving average price of $38.14.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The firm had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.46) earnings per share. Research analysts predict that Roblox Co. will post -1.59 EPS for the current fiscal year.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.