Nykredit A S Makes New Investment in Roblox Corporation $RBLX

Nykredit A S bought a new position in Roblox Corporation (NYSE:RBLX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 244,331 shares of the company’s stock, valued at approximately $13,287,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. lifted its stake in Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after acquiring an additional 105 shares during the period. Horizon Investments LLC raised its holdings in shares of Roblox by 2,636.4% in the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company’s stock valued at $42,000 after purchasing an additional 290 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in shares of Roblox in the 4th quarter worth approximately $27,000. GW&K Investment Management LLC lifted its position in shares of Roblox by 76.3% in the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in shares of Roblox during the fourth quarter valued at approximately $32,000. Institutional investors own 94.46% of the company’s stock.

Insider Activity at Roblox

In other Roblox news, insider Mark Reinstra sold 17,934 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $680,774.64. Following the transaction, the insider owned 398,064 shares in the company, valued at approximately $15,110,509.44. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of Roblox stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $40.47, for a total transaction of $674,473.02. Following the sale, the director owned 1,261,169 shares of the company’s stock, valued at $51,039,509.43. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 185,441 shares of company stock worth $7,529,354 in the last 90 days. 10.05% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on RBLX shares. B. Riley Financial cut their price objective on shares of Roblox from $80.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Benchmark downgraded Roblox from a “hold” rating to a “sell” rating and set a $33.00 price target on the stock. in a report on Friday, July 31st. Wedbush lowered Roblox from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $65.00 to $40.00 in a research report on Friday, July 31st. Seaport Research Partners cut Roblox to a “neutral” rating in a research note on Monday, June 29th. Finally, Wells Fargo & Company set a $46.00 price objective on Roblox in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Hold” and an average price target of $60.89.

Roblox Price Performance

Shares of RBLX opened at $43.21 on Friday. The company has a 50 day moving average of $45.46 and a two-hundred day moving average of $50.83. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00. The company has a market cap of $28.95 billion, a price-to-earnings ratio of -30.22 and a beta of 1.47.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.60 billion. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.41) earnings per share. As a group, analysts predict that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.

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

About Roblox

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.