Employees Retirement System of Texas Grows Holdings in Roblox Co. (NYSE:RBLX)

Employees Retirement System of Texas lifted its stake in Roblox Co. (NYSE:RBLX) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 49,852 shares of the company’s stock after purchasing an additional 1,375 shares during the quarter. Employees Retirement System of Texas’ holdings in Roblox were worth $1,855,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its stake in Roblox by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after purchasing an additional 1,419 shares during the period. Kodai Capital Management LP purchased a new stake in Roblox during the 4th quarter worth approximately $6,805,000. SteelPeak Wealth LLC lifted its holdings in Roblox by 41.4% during the 1st quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company’s stock worth $423,000 after buying an additional 3,247 shares in the last quarter. Sei Investments Co. boosted its position in Roblox by 18.3% in the 1st quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock valued at $11,000,000 after buying an additional 44,557 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Roblox by 62.0% in the second quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock worth $1,395,000 after acquiring an additional 14,348 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Price Performance

Shares of NYSE:RBLX opened at $44.86 on Friday. Roblox Co. has a one year low of $26.78 and a one year high of $48.43. The stock has a market capitalization of $26.85 billion, a price-to-earnings ratio of -24.12 and a beta of 1.60. The company has a 50-day simple moving average of $42.29 and a 200-day simple moving average of $38.55. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03.

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

Insider Buying and Selling

In other news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total value of $25,645.44. Following the completion of the sale, the insider now owns 276,892 shares of the company’s stock, valued at $11,994,961.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the transaction, the chief accounting officer now directly owns 99,617 shares in the company, valued at $4,019,545.95. The disclosure for this sale can be found here. Insiders sold a total of 792,341 shares of company stock valued at $33,923,126 over the last three months. 22.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. The Goldman Sachs Group increased their price objective on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Citigroup increased their price target on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Mkm boosted their price objective on Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Jefferies Financial Group assumed coverage on shares of Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 target price on the stock. Finally, Needham & Company LLC lifted their price target on shares of Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.81.

Roblox Company Profile

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.