Profund Advisors LLC Trims Stock Position in Roblox Co. (NYSE:RBLX)

Profund Advisors LLC decreased its stake in shares of Roblox Co. (NYSE:RBLX) by 30.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,482 shares of the company’s stock after selling 12,192 shares during the period. Profund Advisors LLC’s holdings in Roblox were worth $1,023,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of RBLX. Vanguard Group Inc. grew its holdings in shares of Roblox by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after acquiring an additional 4,818,022 shares during the period. Ieq Capital LLC lifted its position in Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after buying an additional 2,684,713 shares during the period. First Trust Advisors LP boosted its holdings in shares of Roblox by 836.1% during the 4th quarter. First Trust Advisors LP now owns 2,739,514 shares of the company’s stock valued at $125,251,000 after buying an additional 2,446,867 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Roblox by 12.9% in the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after buying an additional 1,519,591 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Roblox by 17.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company’s stock worth $371,535,000 after acquiring an additional 1,491,726 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling

In other news, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $45.56, for a total transaction of $7,593,302.96. Following the sale, the chief executive officer now owns 135,755 shares in the company, valued at $6,184,997.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Roblox news, CFO Michael Guthrie sold 3,443 shares of Roblox stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.01, for a total value of $154,969.43. Following the completion of the transaction, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $15,881,508.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Baszucki sold 166,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.56, for a total value of $7,593,302.96. Following the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at $6,184,997.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 775,341 shares of company stock valued at $33,004,226. Corporate insiders own 22.15% of the company’s stock.

Analysts Set New Price Targets

RBLX has been the topic of several research reports. Benchmark boosted their price objective on shares of Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Macquarie upped their price target on Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. The Goldman Sachs Group boosted their target price on Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC lifted their price target on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Roblox has an average rating of “Moderate Buy” and a consensus target price of $44.40.

Roblox Stock Performance

RBLX opened at $45.53 on Tuesday. Roblox Co. has a 12-month low of $24.88 and a 12-month high of $47.49. The company’s 50 day moving average is $41.83 and its 200 day moving average is $38.35. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The company has a market cap of $26.92 billion, a price-to-earnings ratio of -24.48 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm earned ($0.46) earnings per share. On average, equities research analysts predict that Roblox Co. will post -1.59 EPS for the current year.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.