PensionDanmark Pensionsforsikringsaktieselskab Increases Holdings in Roblox Corporation $RBLX

PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Roblox Corporation (NYSE:RBLX) by 35.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,130 shares of the company’s stock after purchasing an additional 34,120 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Roblox were worth $7,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirabaud & Cie SA bought a new stake in Roblox in the second quarter worth about $386,000. Assenagon Asset Management S.A. grew its position in shares of Roblox by 89.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock valued at $102,984,000 after acquiring an additional 891,634 shares during the period. GAMMA Investing LLC grew its position in shares of Roblox by 12.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,191 shares of the company’s stock valued at $174,000 after acquiring an additional 358 shares during the period. Versant Capital Management Inc increased its stake in shares of Roblox by 27.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,536 shares of the company’s stock worth $84,000 after purchasing an additional 328 shares during the last quarter. Finally, CX Institutional increased its stake in shares of Roblox by 183.4% during the 2nd quarter. CX Institutional now owns 1,213 shares of the company’s stock worth $66,000 after purchasing an additional 785 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Up 5.0%

RBLX opened at $37.84 on Friday. The company has a 50 day moving average of $48.28 and a 200 day moving average of $55.31. The company has a market cap of $25.35 billion, a PE ratio of -26.46 and a beta of 1.46. Roblox Corporation has a 12 month low of $33.88 and a 12 month high of $142.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.41) EPS. On average, sell-side analysts expect that Roblox Corporation will post -1.39 EPS for the current year.

Roblox announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Mark Reinstra sold 17,275 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $782,212.00. Following the sale, the insider owned 438,198 shares of the company’s stock, valued at approximately $19,841,605.44. This represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Baszucki sold 50,628 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $2,292,435.84. Following the completion of the transaction, the chief executive officer owned 852,214 shares of the company’s stock, valued at approximately $38,588,249.92. This represents a 5.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 161,983 shares of company stock valued at $7,455,828 in the last 90 days. Corporate insiders own 10.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TD Cowen dropped their price objective on Roblox from $49.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, July 31st. The Goldman Sachs Group decreased their target price on Roblox from $125.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Cantor Fitzgerald assumed coverage on Roblox in a research note on Monday, June 29th. They issued an “overweight” rating on the stock. DA Davidson set a $40.00 price target on Roblox in a research report on Friday, July 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $47.00 price target (down from $50.00) on shares of Roblox in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Roblox has an average rating of “Hold” and a consensus target price of $60.89.

About Roblox

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.