California Public Employees Retirement System Sells 42,502 Shares of Roblox Co. (NYSE:RBLX)

California Public Employees Retirement System lessened its stake in Roblox Co. (NYSE:RBLX) by 5.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 803,641 shares of the company’s stock after selling 42,502 shares during the quarter. California Public Employees Retirement System’s holdings in Roblox were worth $46,499,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Parkside Financial Bank & Trust raised its stake in Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after acquiring an additional 230 shares during the period. Rakuten Securities Inc. lifted its holdings in Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after purchasing an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Roblox by 188.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 633 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Roblox by 29.2% in the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $69,000 after purchasing an additional 271 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on RBLX. JPMorgan Chase & Co. lifted their target price on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Roblox in a research report on Friday, February 7th. HSBC started coverage on Roblox in a report on Thursday, December 12th. They set a “buy” rating and a $63.00 price target for the company. OTR Global raised Roblox from a “mixed” rating to a “positive” rating in a report on Monday, February 3rd. Finally, Roth Mkm increased their price objective on Roblox from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $64.23.

Roblox Stock Performance

Roblox stock opened at $61.05 on Wednesday. The stock has a market cap of $37.79 billion, a PE ratio of -42.10 and a beta of 1.49. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $75.74. The business’s 50-day moving average price is $62.97 and its two-hundred day moving average price is $55.76.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, analysts expect that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Insider Activity at Roblox

In related news, Director Anthony P. Lee sold 250,000 shares of Roblox stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the sale, the director now directly owns 6,254,137 shares in the company, valued at $406,769,070.48. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arvind Chakravarthy sold 982 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $61.26, for a total transaction of $60,157.32. Following the completion of the transaction, the insider now owns 204,261 shares of the company’s stock, valued at approximately $12,513,028.86. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 926,466 shares of company stock valued at $60,212,297 in the last 90 days. 22.15% of the stock is owned by corporate insiders.

Roblox Profile

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.