Alberta Investment Management Corp Boosts Stock Position in Roblox Corporation (NYSE:RBLX)

Key Points

• Alberta Investment Management Corp increased its stake in Roblox Corporation by 25.1% during the first quarter, owning a total of 69,300 shares worth approximately $4.04 million.
• Roblox's stock price is currently down 9.2%, with a market capitalization of $84.89 billion and a recent price-to-earnings ratio of -87.52.
• CEO David Baszucki and Director Anthony P. Lee both sold significant quantities of shares recently, indicating a 39.74% and 18.83% decrease in their respective holdings.

Alberta Investment Management Corp grew its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,300 shares of the company's stock after acquiring an additional 13,900 shares during the quarter. Alberta Investment Management Corp's holdings in Roblox were worth $4,039,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. MetLife Investment Management LLC lifted its holdings in Roblox by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after acquiring an additional 161 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Roblox by 1.2% in the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock valued at $775,000 after acquiring an additional 163 shares during the period. Ballentine Partners LLC lifted its holdings in Roblox by 0.3% in the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock valued at $4,518,000 after acquiring an additional 198 shares during the period. Signaturefd LLC lifted its holdings in Roblox by 3.8% in the first quarter. Signaturefd LLC now owns 6,153 shares of the company's stock valued at $359,000 after acquiring an additional 225 shares during the period. Finally, Gordian Capital Singapore Pte Ltd lifted its holdings in Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Stock Down 9.2%

Shares of RBLX opened at $125.16 on Friday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. Roblox Corporation has a one year low of $35.30 and a one year high of $150.59. The stock has a market capitalization of $84.89 billion, a price-to-earnings ratio of -87.52 and a beta of 1.63. The stock has a 50 day moving average price of $105.05 and a 200 day moving average price of $78.67.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.20 billion. Roblox had a negative return on equity of 417.87% and a negative net margin of 23.67%. The firm's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Equities research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RBLX. Oppenheimer reissued an "outperform" rating and issued a $125.00 price target (up from $80.00) on shares of Roblox in a report on Wednesday, June 18th. BMO Capital Markets boosted their price target on Roblox from $135.00 to $150.00 and gave the company an "outperform" rating in a report on Friday. Wells Fargo & Company boosted their price target on Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a report on Friday. Macquarie boosted their price objective on Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, Wedbush boosted their price objective on Roblox from $142.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 139,507 shares of the company's stock in a transaction on Thursday, June 26th. The stock was 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 directly owned 211,559 shares in the company, valued at $22,253,891.21. This represents a 39.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony P. Lee sold 66,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total value of $6,856,740.00. Following the completion of the sale, the director owned 284,488 shares of the company's stock, valued at approximately $29,555,458.32. The trade was a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,651,690 shares of company stock worth $593,440,562 in the last three months. 12.92% of the stock is owned by corporate 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.

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