National Pension Service Sells 791,197 Shares of Roblox Corporation $RBLX

Key Points

• National Pension Service cut its Roblox stake by 46.6% in the fourth quarter, selling 791,197 shares and leaving it with 906,623 shares valued at about $73.5 million.
• Wall Street sentiment on Roblox is mixed: analysts currently have a Hold consensus rating with a consensus target price of $87.07, though several firms recently adjusted ratings and price targets.
• Roblox reported a smaller-than-expected loss for the quarter, and its board approved a $3 billion share repurchase program, which covers up to 9.5% of outstanding shares.

National Pension Service reduced its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 46.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 906,623 shares of the company's stock after selling 791,197 shares during the period. National Pension Service owned approximately 0.14% of Roblox worth $73,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RBLX. NewEdge Advisors LLC increased its holdings in Roblox by 2.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company's stock valued at $597,000 after acquiring an additional 231 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Roblox by 70.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company's stock valued at $1,368,000 after acquiring an additional 5,363 shares during the last quarter. CW Advisors LLC bought a new stake in Roblox in the 2nd quarter valued at $272,000. Baird Financial Group Inc. increased its holdings in Roblox by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company's stock valued at $767,000 after acquiring an additional 102 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Roblox in the 2nd quarter valued at $438,000. 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 research reports. Canaccord Genuity Group reduced their price target on shares of Roblox from $140.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Wolfe Research started coverage on shares of Roblox in a report on Friday, May 1st. They issued an "outperform" rating on the stock. TD Cowen upgraded shares of Roblox from a "sell" rating to a "hold" rating and reduced their target price for the stock from $54.00 to $49.00 in a report on Friday, May 1st. Wedbush downgraded shares of Roblox from a "hold" rating to a "neutral" rating in a report on Friday, May 1st. Finally, Oppenheimer started coverage on shares of Roblox in a report on Friday, May 1st. They issued an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $87.07.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 50,628 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the transaction, the chief executive officer directly owned 852,214 shares in the company, valued at approximately $38,588,249.92. This represents a 5.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,356 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total transaction of $649,896.12. Following the transaction, the insider owned 349,964 shares in the company, valued at $15,842,870.28. The trade was a 3.94% 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. Insiders sold a total of 183,471 shares of company stock worth $8,930,068 in the last three months. 10.05% of the stock is owned by insiders.

Roblox Stock Performance

Roblox stock opened at $47.10 on Friday. The company's 50-day moving average price is $52.48 and its 200-day moving average price is $69.51. Roblox Corporation has a twelve month low of $40.15 and a twelve month high of $150.59. 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 company has a market cap of $31.63 billion, a PE ratio of -29.81 and a beta of 1.50.

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

Roblox declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 9.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Roblox Company Profile

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.

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