Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Position in Roblox Corporation $RBLX

Key Points

• Fjarde AP Fonden increased its Roblox stake by 42.8% in the first quarter, ending with 173,950 shares valued at about $9.84 million.
• Roblox posted quarterly earnings that beat EPS expectations, but revenue came in below forecasts even as it grew 43.4% year over year. Analysts now expect the company to lose $1.40 per share for the current fiscal year.
• The board approved a $3 billion share repurchase program covering up to 9.5% of outstanding shares, while analysts maintain a Moderate Buy consensus with an average price target of $85.48.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,950 shares of the company's stock after acquiring an additional 52,150 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Roblox were worth $9,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RBLX. Baird Financial Group Inc. lifted its position in shares of Roblox by 1.4% during the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company's stock worth $767,000 after purchasing an additional 102 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company's stock valued at $39,000 after purchasing an additional 105 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Roblox by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company's stock valued at $560,000 after purchasing an additional 110 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Roblox by 1.3% in the second quarter. NewEdge Advisors LLC now owns 10,374 shares of the company's stock valued at $1,091,000 after purchasing an additional 138 shares in the last quarter. Finally, L2 Asset Management LLC grew its holdings in shares of Roblox by 5.9% in the third quarter. L2 Asset Management LLC now owns 2,783 shares of the company's stock valued at $386,000 after purchasing an additional 154 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Down 0.2%

Shares of NYSE:RBLX opened at $55.29 on Friday. Roblox Corporation has a fifty-two week low of $40.15 and a fifty-two week high of $150.59. The firm's 50 day moving average price is $47.64 and its 200 day moving average price is $61.03. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.45. The stock has a market cap of $37.13 billion, a price-to-earnings ratio of -34.99 and a beta of 1.41.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the business posted ($0.32) EPS. The firm's revenue was up 43.4% on a year-over-year basis. As a group, equities research analysts predict that Roblox Corporation will post -1.4 earnings per share for the current fiscal year.

Roblox announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Roblox

In related news, insider Sean Jack Buckley sold 4,744 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.36, for a total value of $219,931.84. Following the transaction, the insider owned 97,141 shares of the company's stock, valued at $4,503,456.76. This represents a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Matthew D. Kaufman sold 14,356 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total value of $649,896.12. Following the completion of the sale, the insider owned 349,964 shares in the company, valued at approximately $15,842,870.28. This represents a 3.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 189,449 shares of company stock worth $9,175,077. 10.05% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of research reports. Wedbush lowered shares of Roblox from a "hold" rating to a "neutral" rating in a report on Friday, May 1st. DA Davidson dropped their price target on shares of Roblox from $47.50 to $45.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. The Goldman Sachs Group dropped their price target on shares of Roblox from $125.00 to $65.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Barclays raised Roblox from an "equal weight" rating to an "outperform" rating in a research report on Monday, June 29th. Finally, Seaport Research Partners cut Roblox to a "neutral" rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and an average price target of $85.48.

Key Roblox News

Here are the key news stories impacting Roblox this week:

• Negative Sentiment: Roblox is facing a securities class action over claims that its Q1 report failed to fully account for the impact of age-check changes on user growth, keeping legal and reputational risk in focus. Roblox Corporation Faces Securities Class Action Amid Surprise Age Verification Impact
• Negative Sentiment: Multiple law firms are reminding investors about the lead-plaintiff deadline, reinforcing headline risk and suggesting the litigation story is still gathering momentum. RBLX Shareholder Action Reminder
• Negative Sentiment: Insider selling by Director Gregory Baszucki added to cautious sentiment, even though the sale was made under a pre-arranged 10b5-1 trading plan. Insider Selling: Roblox Director Sells 16,666 Shares
• Neutral Sentiment: Roblox also partnered with EDO to add TV-style ad benchmarks to its platform, a longer-term monetization development that could help advertising demand but is not an immediate catalyst. Roblox Partners With EDO To Bring TV Style Ad Benchmarks In Game

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.