Roblox Corporation $RBLX Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors cut its Roblox position by 98.1% in the first quarter, selling 99,879 shares and retaining 1,948 shares worth approximately $110,000. Institutional investors still own 94.46% of the company.
• Roblox reported a quarterly loss of $0.26 per share, beating estimates, while revenue of $1.47 billion fell short of forecasts but increased 8.3% year over year. The company also authorized a $3 billion share buyback covering up to 9.5% of outstanding shares.
• Analysts have broadly reduced their outlook, with several downgrades and price-target cuts; the stock carries a consensus rating of “Hold” and an average target price of $60.89.

Pacer Advisors Inc. trimmed its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 98.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,948 shares of the company's stock after selling 99,879 shares during the period. Pacer Advisors Inc.'s holdings in Roblox were worth $110,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its holdings in Roblox by 58.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company's stock worth $39,000 after acquiring an additional 105 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of Roblox by 2,636.4% in the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company's stock valued at $42,000 after purchasing an additional 290 shares in the last quarter. Reyes Financial Architecture Inc. raised its holdings in shares of Roblox by 164.4% in the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company's stock valued at $25,000 after purchasing an additional 194 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in shares of Roblox during the 4th quarter worth $27,000. Finally, GW&K Investment Management LLC lifted its position in shares of Roblox by 76.3% during the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company's stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Insider Activity

In other news, insider Matthew D. Kaufman sold 14,356 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the completion of the sale, the insider directly owned 349,964 shares of the company's stock, valued at approximately $15,842,870.28. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen K. Chopra sold 16,863 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $763,556.64. Following the transaction, the chief financial officer owned 380,758 shares in the company, valued at approximately $17,240,722.24. This trade represents a 4.24% 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 have sold a total of 161,983 shares of company stock worth $7,455,828 over the last ninety days. 10.05% of the stock is owned by corporate insiders.

Roblox Stock Performance

NYSE RBLX opened at $35.68 on Thursday. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. Roblox Corporation has a 1 year low of $33.88 and a 1 year high of $142.00. The company has a market capitalization of $23.91 billion, a PE ratio of -24.95 and a beta of 1.46. The company has a fifty day moving average of $47.75 and a two-hundred day moving average of $54.24.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company posted ($0.41) earnings per share. The business's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts expect that Roblox Corporation will post -1.39 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RBLX. Citigroup lowered their target price on shares of Roblox from $70.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. TD Cowen decreased their price target on Roblox from $49.00 to $40.00 and set a "hold" rating for the company in a report on Friday, July 31st. Wolfe Research cut Roblox from an "outperform" rating to a "hold" rating in a research report on Friday, July 31st. BMO Capital Markets cut Roblox from an "outperform" rating to a "market perform" rating and set a $45.00 price objective for the company. in a research report on Friday, July 31st. Finally, Wedbush downgraded Roblox from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $65.00 to $40.00 in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.89.

Roblox 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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