Employees Retirement System of Texas Sells 10,470 Shares of Roblox Corporation $RBLX

Employees Retirement System of Texas decreased its position in shares of Roblox Corporation (NYSE:RBLX) by 10.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 85,946 shares of the company’s stock after selling 10,470 shares during the quarter. Employees Retirement System of Texas’ holdings in Roblox were worth $11,905,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC raised its position in shares of Roblox by 17.8% during the third quarter. WPG Advisers LLC now owns 555 shares of the company’s stock worth $77,000 after acquiring an additional 84 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Roblox by 1.4% in the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after acquiring an additional 102 shares during the last quarter. Lido Advisors LLC boosted its holdings in Roblox by 1.3% in the second quarter. Lido Advisors LLC now owns 8,529 shares of the company’s stock valued at $897,000 after acquiring an additional 106 shares during the last quarter. QTR Family Wealth LLC increased its position in Roblox by 2.6% in the third quarter. QTR Family Wealth LLC now owns 4,446 shares of the company’s stock worth $616,000 after purchasing an additional 111 shares during the period. Finally, Perpetual Ltd raised its holdings in Roblox by 0.6% during the 3rd quarter. Perpetual Ltd now owns 19,043 shares of the company’s stock worth $2,638,000 after purchasing an additional 115 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

Roblox Price Performance

Shares of RBLX opened at $56.33 on Friday. The stock has a 50 day simple moving average of $70.34 and a 200 day simple moving average of $98.10. Roblox Corporation has a 52-week low of $50.10 and a 52-week high of $150.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $37.27 billion, a PE ratio of -36.34 and a beta of 1.62.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the company posted ($0.33) EPS. The business’s quarterly revenue was up 122.6% on a year-over-year basis. Sell-side analysts predict that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Roblox in a research note on Wednesday, March 4th. They issued a “neutral” rating and a $65.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $100.00 price target (down from $125.00) on shares of Roblox in a research note on Friday, February 6th. Canaccord Genuity Group cut their price objective on shares of Roblox from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Roblox in a research note on Friday, February 6th. Finally, Roth Mkm upgraded shares of Roblox from a “neutral” rating to a “buy” rating and upped their target price for the company from $78.00 to $84.00 in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.35.

Insider Activity at Roblox

In related news, insider Arvind Chakravarthy sold 40,646 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total transaction of $2,732,630.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 60,000 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the completion of the sale, the insider directly owned 394,322 shares in the company, valued at $25,212,948.68. This represents a 13.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 703,144 shares of company stock valued at $51,681,640 over the last three months. Insiders own 12.92% of the company’s stock.

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.