Maryland State Retirement & Pension System Has $1.43 Million Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Roblox Corporation by 13.2% in Q1, now owning 24,549 shares valued at approximately $1.43 million.
• Roblox's recent quarterly earnings report revealed a loss of ($0.41) EPS, missing analysts' estimates, although the company reported revenue of $1.44 billion, significantly surpassing expectations of $1.20 billion.
• Major institutional investors have shown increased interest in Roblox, with firms like Gordian Capital Singapore boosting their position by 74.8% in the last quarter; overall, institutional investors own 94.46% of Roblox's shares.

Maryland State Retirement & Pension System trimmed its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 13.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,549 shares of the company's stock after selling 3,732 shares during the quarter. Maryland State Retirement & Pension System's holdings in Roblox were worth $1,431,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RBLX. Vanguard Group Inc. grew its position in shares of Roblox by 8.3% in the first quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock valued at $3,359,854,000 after purchasing an additional 4,400,624 shares during the last quarter. Durable Capital Partners LP acquired a new stake in shares of Roblox in the fourth quarter valued at about $246,560,000. Ninety One UK Ltd acquired a new stake in shares of Roblox in the first quarter valued at about $137,379,000. Whale Rock Capital Management LLC grew its position in shares of Roblox by 95.8% in 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 grew its position in shares of Roblox by 210.5% in 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. 94.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Raymond James Financial downgraded Roblox from a "strong-buy" rating to an "outperform" rating and raised their price target for the company from $81.00 to $130.00 in a research report on Wednesday, July 23rd. Wedbush increased their target price on shares of Roblox from $142.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Macquarie increased their target price on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Oppenheimer restated an "outperform" rating and set a $125.00 price target (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Finally, Morgan Stanley raised their price target on shares of Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Activity

In other news, CEO David Baszucki sold 687,500 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the completion of the transaction, the chief executive officer owned 211,559 shares of the company's stock, valued at approximately $18,610,845.23. This trade represents a 76.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 5,201,935 shares of company stock worth $499,388,389 over the last ninety days. 12.92% of the stock is currently owned by company insiders.

Roblox Price Performance

NYSE:RBLX traded down $4.25 on Wednesday, hitting $125.28. The company had a trading volume of 871,125 shares, compared to its average volume of 8,700,751. The stock has a market capitalization of $80.81 billion, a price-to-earnings ratio of -87.78 and a beta of 1.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The firm has a 50 day moving average of $111.20 and a two-hundred day moving average of $81.78. Roblox Corporation has a 52 week low of $37.50 and a 52 week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last issued 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 company 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%. Roblox's revenue for the quarter was up 50.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) EPS. On average, research analysts anticipate that Roblox Corporation will post -1.49 earnings per share 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.