National Pension Service increased its position in Roblox Corporation (NYSE:RBLX – Free Report) by 34.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,243,524 shares of the company’s stock after acquiring an additional 315,244 shares during the period. National Pension Service owned approximately 0.19% of Roblox worth $67,623,000 at the end of the most recent reporting period.
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Several other hedge funds have also recently bought and sold shares of RBLX. Hanson & Doremus Investment Management bought a new position in Roblox in the 1st quarter worth about $25,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Roblox in the fourth quarter valued at approximately $27,000. Basecamp Wealth Advisors LLC raised its holdings in shares of Roblox by 98.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after buying an additional 252 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after buying an additional 161 shares during the period. Finally, Root Financial Partners LLC boosted its position in shares of Roblox by 100.7% during the first quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock worth $32,000 after buying an additional 283 shares during the period. 94.46% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Gregory Baszucki sold 16,666 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $40.47, for a total value of $674,473.02. Following the sale, the director directly owned 1,261,169 shares in the company, valued at $51,039,509.43. The trade was a 1.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 5,773 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $44.80, for a total transaction of $258,630.40. Following the sale, the insider directly owned 392,291 shares of the company’s stock, valued at approximately $17,574,636.80. This represents a 1.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 185,236 shares of company stock worth $7,538,642 in the last ninety days. Insiders own 10.05% of the company’s stock.
Key Stories Impacting Roblox
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Here are the key news stories impacting Roblox this week:
- Positive Sentiment:Expanded distribution could broaden Roblox’s reach. Roblox plans to let creators distribute games as standalone applications across mobile devices, PCs and consoles, as well as beyond the main Roblox app. Easier access could increase game discovery, usage and monetization. Reuters article
- Positive Sentiment:New AI and development tools may strengthen the creator ecosystem. RDC announcements included AI-assisted game-building tools, expanded non-player-character capabilities and other technology intended to help developers create more sophisticated experiences. Greater creator productivity could increase the supply and quality of content on the platform. TechCrunch article
- Positive Sentiment:Creator payments are being made more flexible. Roblox is preparing a dedicated Roblox Wallet and Roblox Card, with a system that would allow eligible creators to receive payments daily. Faster access to earnings could improve creator retention and encourage more development on the platform. Roblox wallet article
- Neutral Sentiment:Trading momentum was modestly favorable. A market recap noted that RBLX outperformed the broader market during the latest session, but the stock remains below its 200-day moving average. Analysts’ consensus rating is Hold, with an average price target of $59.21. Zacks article
- Negative Sentiment:Short interest rose sharply. Short interest increased 68.7% between mid- and late August to 23.4 million shares, representing 3.9% of shares outstanding. This signals growing bearish positioning and could increase volatility.
- Negative Sentiment:Insider selling adds a cautionary signal. Insider Mark Reinstra sold $258,630 of stock under a pre-arranged Rule 10b5-1 plan. Roblox also remains unprofitable, with analysts expecting a full-year loss and its latest revenue falling short of consensus estimates.
Analyst Upgrades and Downgrades
Several research firms recently commented on RBLX. Jefferies Financial Group restated a “hold” rating and issued a $38.00 target price on shares of Roblox in a research report on Wednesday. Morgan Stanley reduced their price target on Roblox from $62.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Seaport Research Partners cut Roblox to a “neutral” rating in a research note on Monday, June 29th. Benchmark lowered Roblox from a “hold” rating to a “sell” rating and set a $33.00 price target on the stock. in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Roblox from a “buy” rating to a “hold” rating and cut their price objective for the company from $56.00 to $38.00 in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.21.
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