Skandinaviska Enskilda Banken AB publ Cuts Stake in Roblox Corporation (NYSE:RBLX)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Roblox Corporation (NYSE:RBLX) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,437 shares of the company’s stock after selling 5,035 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Roblox were worth $5,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in RBLX. FMR LLC grew its holdings in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company’s stock valued at $2,294,642,000 after buying an additional 18,715,837 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Roblox by 1,084.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock valued at $278,500,000 after buying an additional 4,406,885 shares in the last quarter. Durable Capital Partners LP purchased a new stake in Roblox during the 4th quarter valued at approximately $246,560,000. Norges Bank purchased a new stake in Roblox during the 4th quarter valued at approximately $167,211,000. Finally, Ninety One UK Ltd purchased a new position in shares of Roblox in the first quarter valued at $137,379,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Up 0.6%

NYSE:RBLX opened at $118.79 on Monday. Roblox Corporation has a twelve month low of $35.30 and a twelve month high of $127.99. The company has a market cap of $80.57 billion, a price-to-earnings ratio of -88.65 and a beta of 1.60. The stock has a fifty day simple moving average of $100.68 and a 200-day simple moving average of $76.57. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned ($0.43) earnings per share. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. Analysts anticipate that Roblox Corporation will post -1.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Roblox from $46.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Citigroup raised their target price on shares of Roblox from $123.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Macquarie raised their target price on shares of Roblox from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, May 5th. BMO Capital Markets raised their target price on shares of Roblox from $95.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Finally, Raymond James Financial lowered shares of Roblox from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $81.00 to $130.00 in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.95.

Insider Transactions at Roblox

In other news, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total transaction of $711,060.00. Following the completion of the sale, the insider directly owned 307,223 shares in the company, valued at approximately $36,408,997.73. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 139,507 shares of Roblox stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the completion of the sale, the chief executive officer owned 211,559 shares of the company’s stock, valued at $22,253,891.21. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,651,690 shares of company stock worth $593,440,562. 12.92% of the stock is currently owned by insiders.

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.