Abacus FCF Advisors LLC Has $9.73 Million Stake in Roblox Corporation $RBLX

Key Points

• Abacus FCF Advisors LLC trimmed its Roblox stake by 15.3%, selling 21,722 shares and leaving it with 120,039 shares valued at about $9.73 million per the latest SEC filing.
• Roblox reported Q results of ($0.45) EPS (beating estimates by $0.04) and $1.42 billion in revenue (well below consensus) with revenue up 122.6% YoY, but the company remains unprofitable with negative net margin and ROE.
• Insiders have sold 551,996 shares (~$38.4M) in the past 90 days (insiders own 12.92%), institutional ownership is 94.46%, and analysts hold a consensus "Moderate Buy" rating with a $115.36 price target.

Abacus FCF Advisors LLC decreased its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,039 shares of the company's stock after selling 21,722 shares during the quarter. Abacus FCF Advisors LLC's holdings in Roblox were worth $9,727,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RBLX. Vanguard Group Inc. increased its position in Roblox by 5.6% during the third quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company's stock worth $8,648,911,000 after acquiring an additional 3,284,073 shares during the period. State Street Corp increased its position in Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company's stock worth $1,851,991,000 after acquiring an additional 1,326,575 shares during the period. Assenagon Asset Management S.A. increased its position in Roblox by 342.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,551,456 shares of the company's stock worth $125,714,000 after acquiring an additional 1,200,900 shares during the period. Durable Capital Partners LP increased its position in Roblox by 32.4% during the second quarter. Durable Capital Partners LP now owns 4,588,728 shares of the company's stock worth $482,734,000 after acquiring an additional 1,122,153 shares during the period. Finally, Invesco Ltd. increased its position in Roblox by 48.9% during the third quarter. Invesco Ltd. now owns 2,625,710 shares of the company's stock worth $363,713,000 after acquiring an additional 862,754 shares during the period. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Stock Up 1.0%

NYSE:RBLX opened at $56.00 on Friday. The firm's 50 day simple moving average is $60.03 and its 200 day simple moving average is $81.86. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. Roblox Corporation has a one year low of $51.23 and a one year high of $150.59. The company has a market cap of $37.45 billion, a PE ratio of -36.13 and a beta of 1.67.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company's revenue for the quarter was up 122.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.33) EPS. On average, research analysts anticipate that Roblox Corporation will post -1.61 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on RBLX. BTIG Research reissued a "buy" rating and issued a $122.00 target price on shares of Roblox in a report on Monday, April 13th. Wolfe Research set a $100.00 target price on shares of Roblox in a report on Monday, January 5th. Oppenheimer decreased their target price on shares of Roblox from $150.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, February 6th. TD Cowen reissued a "sell" rating on shares of Roblox in a report on Tuesday, January 27th. Finally, Benchmark reissued a "hold" rating on shares of Roblox in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.36.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 10,834 shares of the business's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $61.63, for a total transaction of $667,699.42. Following the completion of the sale, the chief executive officer owned 800,539 shares in the company, valued at approximately $49,337,218.57. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory Baszucki sold 16,666 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $57.95, for a total transaction of $965,794.70. Following the completion of the sale, the director owned 1,302,834 shares of the company's stock, valued at approximately $75,499,230.30. The trade was a 1.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 551,996 shares of company stock worth $38,421,146 in the last ninety days. 12.92% of the stock is currently owned by corporate insiders.

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.

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