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

National Pension Service reduced its stake in Roblox Corporation (NYSE:RBLX) by 46.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 906,623 shares of the company’s stock after selling 791,197 shares during the quarter. National Pension Service’s holdings in Roblox were worth $73,464,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RBLX. Vanguard Group Inc. grew its stake in Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after acquiring an additional 3,284,073 shares in the last quarter. State Street Corp grew its stake in Roblox by 11.0% in the 3rd quarter. State Street Corp now owns 13,369,844 shares of the company’s stock worth $1,851,991,000 after acquiring an additional 1,326,575 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Roblox by 342.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,551,456 shares of the company’s stock worth $125,714,000 after acquiring an additional 1,200,900 shares in the last quarter. Durable Capital Partners LP grew its stake in Roblox by 32.4% in the 2nd quarter. Durable Capital Partners LP now owns 4,588,728 shares of the company’s stock worth $482,734,000 after acquiring an additional 1,122,153 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Roblox by 48.9% in the 3rd quarter. Invesco Ltd. now owns 2,625,710 shares of the company’s stock worth $363,713,000 after acquiring an additional 862,754 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Insider Activity at Roblox

In related news, insider Sean Jack Buckley sold 4,744 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $46.36, for a total transaction of $219,931.84. Following the completion of the sale, the insider owned 97,141 shares of the company’s stock, valued at $4,503,456.76. This represents a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Amy Marie Rawlings sold 2,895 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.24, for a total transaction of $130,969.80. Following the sale, the chief accounting officer directly owned 35,238 shares of the company’s stock, valued at $1,594,167.12. The trade was a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 183,471 shares of company stock valued at $8,930,068 over the last three months. Company insiders own 10.05% of the company’s stock.

Roblox Price Performance

NYSE RBLX opened at $47.10 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50 day moving average price is $52.48 and its 200-day moving average price is $69.51. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59. 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) last posted its earnings results on Thursday, April 30th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the company posted ($0.32) earnings per share. Roblox’s revenue for the quarter was up 43.4% compared to the same quarter last year. Sell-side analysts forecast that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox announced that its board has approved a share buyback plan on Tuesday, May 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wedbush downgraded shares of Roblox from a “hold” rating to a “neutral” rating in a research note on Friday, May 1st. Jefferies Financial Group downgraded shares of Roblox from a “hold” rating to a “hold” rating in a research note on Friday, May 1st. Oppenheimer began coverage on shares of Roblox in a research note on Friday, May 1st. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a research note on Friday, March 27th. Finally, BTIG Research downgraded shares of Roblox from a “buy” rating to a “neutral” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.07.

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.