J. Safra Sarasin Holding AG Decreases Stock Position in Roblox Corporation (NYSE:RBLX)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Roblox Corporation by 5.3%, selling 2,566 shares to own 45,429 shares valued at approximately $2.65 million.
• Several hedge funds increased their positions in Roblox significantly, with FMR LLC boosting its stake by 89.4% during the fourth quarter.
• Roblox stock is currently down 9.2%, and the company reported quarterly earnings with a negative net margin of 23.67%, missing EPS estimates.

J. Safra Sarasin Holding AG lessened its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 5.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,429 shares of the company's stock after selling 2,566 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Roblox were worth $2,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its position in Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after purchasing an additional 18,715,837 shares during the last quarter. Durable Capital Partners LP acquired a new position in Roblox during the fourth quarter valued at approximately $246,560,000. Ninety One UK Ltd acquired a new position in Roblox during the first quarter valued at approximately $137,379,000. Whale Rock Capital Management LLC boosted its position in Roblox by 95.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock valued at $275,137,000 after purchasing an additional 2,326,588 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Roblox by 210.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,256,815 shares of the company's stock valued at $189,840,000 after purchasing an additional 2,207,897 shares during the last quarter. Institutional investors own 94.46% of the company's stock.

Roblox Trading Down 2.1%

Shares of NYSE:RBLX traded down $2.79 during midday trading on Tuesday, reaching $127.91. The company's stock had a trading volume of 2,070,471 shares, compared to its average volume of 8,784,195. The firm has a market capitalization of $82.51 billion, a price-to-earnings ratio of -89.61 and a beta of 1.63. 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 firm has a 50 day moving average price of $106.02 and a two-hundred day moving average price of $79.21. Roblox Corporation has a fifty-two week low of $36.07 and a fifty-two week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data 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 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 company's revenue was up 50.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.32) EPS. As a group, analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Raymond James Financial cut Roblox from a "strong-buy" rating to an "outperform" rating and increased their price target for the company from $81.00 to $130.00 in a research report on Wednesday, July 23rd. The Goldman Sachs Group lifted their price target on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Citigroup lifted their price target on Roblox from $123.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Bank of America lifted their price target on Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Finally, BTIG Research set a $131.00 price target on Roblox and gave the stock a "buy" rating in a report on Monday, July 28th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Activity

In other news, insider Matthew D. Kaufman sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total value of $711,060.00. Following the transaction, the insider owned 307,223 shares in the company, valued at $36,408,997.73. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Baszucki sold 139,507 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the completion of the transaction, the chief executive officer owned 211,559 shares in the company, valued at $22,253,891.21. This represents a 39.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,251,703 shares of company stock worth $492,380,210 over the last quarter. 12.92% of the stock is currently owned by corporate insiders.

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.