Forsta AP Fonden Has $5.64 Million Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Forsta AP Fonden reduced its holdings in Roblox Corporation by 4.1%, ending the 1st quarter with 96,800 shares worth approximately $5.64 million.
• Analysts have varied opinions on Roblox's stock, with recent reports increasing target prices significantly and a consensus rating of "Moderate Buy", while two analysts still rate it as a sell.
• Insider selling occurred with Director Andrea L. Wong and CEO David Baszucki both offloading shares, with a total of 5.2 million shares sold by insiders in the last ninety days.

Forsta AP Fonden reduced its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,800 shares of the company's stock after selling 4,100 shares during the quarter. Forsta AP Fonden's holdings in Roblox were worth $5,642,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Roblox by 15.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock worth $2,096,000 after buying an additional 4,760 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Roblox during the 1st quarter worth $890,000. IFM Investors Pty Ltd boosted its position in Roblox by 7.2% during the 1st quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock worth $5,370,000 after acquiring an additional 6,180 shares during the period. Montag A & Associates Inc. grew its stake in shares of Roblox by 1,193.7% in the first quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock worth $1,570,000 after purchasing an additional 24,852 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in shares of Roblox during the first quarter valued at $280,000. 94.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $133.67, for a total value of $802,020.00. Following the transaction, the insider owned 301,223 shares in the company, valued at $40,264,478.41. This represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea L. Wong sold 5,770 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $130.40, for a total transaction of $752,408.00. Following the sale, the director owned 41,891 shares of the company's stock, valued at approximately $5,462,586.40. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,215,535 shares of company stock valued at $500,468,909. 12.92% of the stock is owned by insiders.

Roblox Trading Down 0.9%

Roblox stock traded down $1.23 during midday trading on Tuesday, reaching $129.51. The stock had a trading volume of 5,703,553 shares, compared to its average volume of 9,921,019. The firm's fifty day simple moving average is $111.20 and its two-hundred day simple moving average is $81.78. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. Roblox Corporation has a twelve month low of $37.50 and a twelve month high of $150.59. The firm has a market cap of $83.54 billion, a price-to-earnings ratio of -90.57 and a beta of 1.63.

Roblox (NYSE:RBLX - Get Free Report) last issued its 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). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned ($0.32) EPS. The business's quarterly revenue was up 50.5% on a year-over-year basis. Equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RBLX shares. Wall Street Zen downgraded shares of Roblox from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Barclays upped their price target on shares of Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Raymond James Financial lowered shares of Roblox from a "strong-buy" rating to an "outperform" rating and raised their price objective for the company from $81.00 to $130.00 in a research note on Wednesday, July 23rd. Morgan Stanley upped their target price on Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group increased their price target on Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.59.

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.