Swedbank AB Has $25.17 Million Stock Holdings in Roblox Corporation $RBLX

Swedbank AB raised its holdings in shares of Roblox Corporation (NYSE:RBLX) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,632 shares of the company’s stock after purchasing an additional 13,545 shares during the quarter. Swedbank AB’s holdings in Roblox were worth $25,171,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Baird Financial Group Inc. lifted its holdings in Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after purchasing an additional 102 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Roblox by 58.7% during 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 Roblox by 2.8% during 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. Westpac Banking Corp lifted its holdings in Roblox by 0.6% during the 3rd quarter. Westpac Banking Corp now owns 20,043 shares of the company’s stock valued at $2,776,000 after purchasing an additional 115 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Roblox by 1.3% during the 2nd quarter. NewEdge Advisors LLC now owns 10,374 shares of the company’s stock valued at $1,091,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Stock Up 0.2%

RBLX stock opened at $48.23 on Tuesday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $32.39 billion, a price-to-earnings ratio of -30.53 and a beta of 1.50. The business’s fifty day moving average price is $53.40 and its two-hundred day moving average price is $70.88. Roblox Corporation has a fifty-two week low of $40.15 and a fifty-two week high of $150.59.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) EPS. On average, equities analysts anticipate that Roblox Corporation will post -1.4 earnings per share for the current year.

Roblox declared that its Board of Directors has approved a share buyback program on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 9.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $57.95, for a total value of $965,794.70. Following the transaction, the director owned 1,302,834 shares in the company, valued at approximately $75,499,230.30. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Matthew D. Kaufman sold 14,356 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the completion of the transaction, the insider owned 349,964 shares in the company, valued at $15,842,870.28. The trade was a 3.94% decrease in their position. 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 178,453 shares of company stock valued at $8,696,984 in the last ninety days. Insiders own 10.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wolfe Research assumed coverage on Roblox in a report on Friday, May 1st. They set an “outperform” rating for the company. Benchmark reaffirmed a “hold” rating on shares of Roblox in a report on Monday, February 2nd. Roth Mkm set a $65.00 price objective on Roblox in a research report on Tuesday, May 5th. UBS Group lowered their price objective on Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Finally, Needham & Company LLC began coverage on Roblox in a research report on Friday, May 1st. They set a “buy” rating and a $60.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $87.07.

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.