Skandinaviska Enskilda Banken AB publ Has $5.68 Million Stock Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Skandinaviska Enskilda Banken AB sold 5,035 shares of Roblox Corporation, reducing its holdings by 4.9%, now owning 97,437 shares valued at approximately $5.68 million.
• A significant number of institutional investors, including FMR LLC and Arrowstreet Capital, have notably increased their stakes in Roblox during the last quarter.
• Several analysts have raised their price targets for Roblox, with BTIG Research setting it at $124.00, indicating a strong positive outlook for the stock.

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,437 shares of the company's stock after selling 5,035 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Roblox were worth $5,679,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RBLX. Gordian Capital Singapore Pte Ltd lifted its stake in Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC lifted its stake in Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Roblox during the first quarter worth $39,000. Colonial Trust Co SC bought a new stake in Roblox during the fourth quarter worth $41,000. Finally, TD Private Client Wealth LLC bought a new stake in Roblox during the first quarter worth $58,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Trading Up 1.6%

NYSE:RBLX traded up $1.91 during trading hours on Monday, hitting $120.73. 5,112,482 shares of the company were exchanged, compared to its average volume of 7,826,434. The stock has a market capitalization of $81.89 billion, a price-to-earnings ratio of -90.10 and a beta of 1.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. Roblox Corporation has a one year low of $35.30 and a one year high of $127.99. The company has a fifty day simple moving average of $101.47 and a 200 day simple moving average of $76.99.

Roblox (NYSE:RBLX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. Roblox's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the company earned ($0.43) EPS. Sell-side analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the completion of the sale, the director directly owned 284,488 shares in the company, valued at approximately $29,555,458.32. This trade represents a 18.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Baszucki sold 139,507 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $105.19, for a total value of $14,674,741.33. Following the sale, the chief executive officer owned 211,559 shares of the company's stock, valued at approximately $22,253,891.21. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,651,690 shares of company stock worth $593,440,562. Company insiders own 12.92% of the company's stock.

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent analyst reports. Needham & Company LLC restated a "buy" rating on shares of Roblox in a research note on Friday, May 2nd. The Goldman Sachs Group upped their target price on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Bank of America upped their target price on Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Canaccord Genuity Group upped their target price on Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Benchmark increased their price target on Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.27.

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.