Roblox Corporation $RBLX Shares Sold by Teachers Retirement System of The State of Kentucky

Key Points

• Teachers Retirement System of The State of Kentucky cut its stake in Roblox by 15.7% in Q4, selling 29,350 shares and leaving it with 157,182 shares valued at about $12.74 million.
• Significant insider selling: CEO David Baszucki sold 272,269 shares (~$19.8M) and another insider sold 60,000 shares, with insiders selling 551,996 shares (~$38.4M) in the past 90 days and now owning 12.92% of the company.
• Financial and analyst snapshot: revenue was up 122.6% to $1.42B but the company remains unprofitable (negative EPS), the stock trades near $56 (market cap ~$37.5B), and the consensus rating is a Moderate Buy with an average target of $115.36.

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,182 shares of the company's stock after selling 29,350 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Roblox were worth $12,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RBLX. WPG Advisers LLC lifted its position in Roblox by 17.8% in the third quarter. WPG Advisers LLC now owns 555 shares of the company's stock valued at $77,000 after acquiring an additional 84 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Roblox by 1.4% during the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company's stock worth $767,000 after purchasing an additional 102 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company's stock valued at $39,000 after purchasing an additional 105 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Roblox by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company's stock valued at $560,000 after purchasing an additional 110 shares during the last quarter. Finally, QTR Family Wealth LLC boosted its position in shares of Roblox by 2.6% in the 3rd quarter. QTR Family Wealth LLC now owns 4,446 shares of the company's stock valued at $616,000 after purchasing an additional 111 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Trading Down 0.2%

NYSE:RBLX opened at $56.00 on Monday. Roblox Corporation has a 12-month low of $51.23 and a 12-month high of $150.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. The stock's 50 day simple moving average is $60.03 and its 200-day simple moving average is $81.55. The firm has a market cap of $37.45 billion, a P/E ratio of -36.13 and a beta of 1.67.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the company earned ($0.33) earnings per share. The company's revenue for the quarter was up 122.6% on a year-over-year basis. Equities analysts anticipate that Roblox Corporation will post -1.6 EPS for the current year.

Insider Activity at Roblox

In other news, insider Mark Reinstra sold 60,000 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $63.94, for a total value of $3,836,400.00. Following the completion of the sale, the insider owned 394,322 shares in the company, valued at approximately $25,212,948.68. This trade represents a 13.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Baszucki sold 272,269 shares of Roblox stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the completion of the sale, the chief executive officer directly owned 811,373 shares in the company, valued at approximately $58,954,362.18. The trade was a 25.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 551,996 shares of company stock worth $38,421,146 in the last 90 days. Corporate insiders own 12.92% of the company's stock.

Analyst Ratings Changes

RBLX has been the topic of a number of research reports. BTIG Research restated a "buy" rating and set a $122.00 price target on shares of Roblox in a research note on Monday, April 13th. Canaccord Genuity Group lowered their target price on shares of Roblox from $160.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, February 3rd. Roth Mkm raised shares of Roblox from a "neutral" rating to a "buy" rating and lifted their target price for the company from $78.00 to $84.00 in a report on Monday, February 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Roblox in a research note on Friday, February 6th. Finally, UBS Group set a $74.00 price objective on shares of Roblox in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell 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 $115.36.

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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