181,051 Shares in Roblox Corporation $RBLX Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Roblox Corporation (NYSE:RBLX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 181,051 shares of the company’s stock, valued at approximately $9,846,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kinetic Partners Management LP acquired a new stake in shares of Roblox during the 2nd quarter worth approximately $6,569,000. S&CO Inc. purchased a new position in shares of Roblox during the 2nd quarter worth approximately $921,000. Stonekeep Investments LLC boosted its position in shares of Roblox by 2.4% during the 2nd quarter. Stonekeep Investments LLC now owns 9,070 shares of the company’s stock worth $493,000 after purchasing an additional 213 shares during the period. Redhawk Wealth Advisors Inc. acquired a new stake in Roblox in the 2nd quarter valued at approximately $226,000. Finally, Wealthcare Advisory Partners LLC increased its holdings in Roblox by 13.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 30,034 shares of the company’s stock valued at $1,633,000 after purchasing an additional 3,498 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Roblox from $62.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. DA Davidson set a $40.00 target price on Roblox in a report on Friday, July 31st. Arete Research set a $95.00 target price on Roblox and gave the stock a “buy” rating in a research note on Monday, June 29th. Piper Sandler restated a “neutral” rating and set a $47.00 price target (down from $50.00) on shares of Roblox in a report on Friday, July 31st. Finally, Canaccord Genuity Group set a $58.00 price target on Roblox in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.89.

Roblox Price Performance

Shares of NYSE:RBLX opened at $41.32 on Tuesday. Roblox Corporation has a 12 month low of $33.88 and a 12 month high of $142.00. The firm has a market capitalization of $27.68 billion, a P/E ratio of -28.90 and a beta of 1.46. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $45.92 and its 200 day moving average price is $51.39.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.08. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. Roblox’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, sell-side analysts predict that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.

Roblox announced that its board has approved a stock repurchase plan on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 9.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Matthew D. Kaufman sold 14,904 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $565,755.84. Following the completion of the sale, the insider directly owned 335,060 shares of the company’s stock, valued at approximately $12,718,877.60. This represents a 4.26% 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 17,509 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $664,641.64. Following the transaction, the chief financial officer owned 363,249 shares in the company, valued at approximately $13,788,932.04. This trade represents a 4.60% 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 168,213 shares of company stock worth $6,831,901 over the last ninety days. 10.05% of the stock is owned by corporate insiders.

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.