Alberta Investment Management Corp Increases Stake 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 boosted its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,300 shares of the company's stock after purchasing an additional 13,900 shares during the quarter. Alberta Investment Management Corp's holdings in Roblox were worth $4,039,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Larson Financial Group LLC boosted its position in Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after purchasing an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Roblox in the first quarter worth about $39,000. Colonial Trust Co SC acquired a new stake in shares of Roblox during the fourth quarter worth $41,000. Finally, TD Private Client Wealth LLC acquired a new stake in shares of Roblox during the first quarter worth about $58,000. Institutional investors own 94.46% of the company's stock.

Insider Buying and Selling

In other news, CEO David Baszucki sold 687,500 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the sale, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $18,610,845.23. This represents a 76.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 5,434,585 shares of company stock worth $516,227,822 over the last ninety days. Corporate insiders own 12.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their price target on Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Piper Sandler boosted their price objective on shares of Roblox from $105.00 to $138.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Macquarie upped their price target on Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Citigroup raised their target price on Roblox from $123.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $117.59.

Roblox Trading Down 3.3%

Shares of NYSE:RBLX traded down $4.38 during mid-day trading on Thursday, hitting $129.76. The stock had a trading volume of 7,110,488 shares, compared to its average volume of 8,797,050. The company's 50 day moving average is $107.85 and its 200-day moving average is $79.92. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $83.70 billion, a PE ratio of -90.74 and a beta of 1.63. Roblox Corporation has a 12-month low of $36.32 and a 12-month high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The business's revenue was up 50.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.32) EPS. On average, sell-side analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

About Roblox

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.