DNB Asset Management AS Sells 95,545 Shares of Roblox Corporation $RBLX

Key Points

• DNB Asset Management AS reduced its Roblox stake by 45.9% in the fourth quarter, selling 95,545 shares and leaving it with 112,750 shares worth about $9.1 million.
• Roblox’s latest quarterly results beat EPS expectations, posting -$0.35 per share versus the expected -$0.41, but revenue of $1.44 billion came in below forecasts.
• Wall Street sentiment remains cautious: analysts have a “Hold” consensus on Roblox with an average price target of $87.17, while the stock recently traded far below its 200-day average and 52-week high.

DNB Asset Management AS cut its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,750 shares of the company's stock after selling 95,545 shares during the quarter. DNB Asset Management AS's holdings in Roblox were worth $9,136,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. National Pension Service grew its stake in Roblox by 7.3% in the third quarter. National Pension Service now owns 1,697,820 shares of the company's stock valued at $235,182,000 after purchasing an additional 115,096 shares in the last quarter. Cypress Wealth Services LLC bought a new position in Roblox in the fourth quarter valued at approximately $2,373,000. Yarbrough Capital LLC grew its stake in Roblox by 1,514.5% in the fourth quarter. Yarbrough Capital LLC now owns 57,331 shares of the company's stock valued at $4,646,000 after purchasing an additional 53,780 shares in the last quarter. Triglav Investments D.O.O. bought a new position in Roblox in the third quarter valued at approximately $3,186,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Roblox by 28.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,590 shares of the company's stock valued at $10,609,000 after purchasing an additional 16,915 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RBLX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of Roblox in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of Roblox from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Jefferies Financial Group cut shares of Roblox from a "hold" rating to a "hold" rating in a research note on Friday, May 1st. BTIG Research cut shares of Roblox from a "buy" rating to a "neutral" rating in a research note on Friday, May 1st. Finally, Wedbush cut shares of Roblox from a "hold" rating to a "neutral" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $87.17.

Roblox Stock Performance

NYSE RBLX opened at $47.05 on Tuesday. The firm has a 50-day moving average of $54.77 and a 200-day moving average of $73.27. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $31.60 billion, a PE ratio of -29.78 and a beta of 1.50. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. Roblox's quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.32) EPS. On average, sell-side analysts anticipate that Roblox Corporation will post -1.4 EPS for the current year.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 10,834 shares of Roblox stock in a transaction that occurred on Friday, February 20th. The stock was 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 directly owned 800,539 shares of the company's stock, valued at approximately $49,337,218.57. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Matthew D. Kaufman sold 13,325 shares of Roblox stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $57.94, for a total value of $772,050.50. Following the sale, the insider directly owned 364,320 shares of the company's stock, valued at approximately $21,108,700.80. The trade was a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 76,144 shares of company stock valued at $4,235,769. 10.05% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Corporation (NYSE:RBLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.