Highland Capital Management LLC Buys New Stake in Roblox Corporation (NYSE:RBLX)

Highland Capital Management LLC purchased a new position in Roblox Corporation (NYSE:RBLX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,856 shares of the company's stock, valued at approximately $1,391,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. MetLife Investment Management LLC grew its position in shares of Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after purchasing an additional 161 shares in the last quarter. Rakuten Securities Inc. grew 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 buying an additional 195 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after buying an additional 230 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Finally, Atala Financial Inc lifted its stake in shares of Roblox by 0.6% in the 1st quarter. Atala Financial Inc now owns 50,403 shares of the company's stock valued at $2,941,000 after purchasing an additional 292 shares during the last quarter. 94.46% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO David Baszucki sold 1,375,002 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the transaction, the chief executive officer directly owned 221,983 shares in the company, valued at $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 6,712,649 shares of company stock valued at $584,262,803. 12.92% of the stock is owned by corporate insiders.

Roblox Stock Down 0.5%

Shares of RBLX stock traded down $0.48 during trading hours on Monday, reaching $105.11. 8,941,642 shares of the company's stock were exchanged, compared to its average volume of 7,997,796. Roblox Corporation has a 1 year low of $35.30 and a 1 year high of $106.76. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. The stock has a market cap of $71.29 billion, a PE ratio of -78.44 and a beta of 1.56. The stock's fifty day moving average price is $84.13 and its two-hundred day moving average price is $69.33.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. Roblox's revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) EPS. Research analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

Analysts Set New Price Targets

RBLX has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Roblox from $78.00 to $116.00 and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Roblox from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday. Roth Mkm raised their target price on shares of Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Macquarie upped their price target on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Barclays raised their price target on Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Roblox has an average rating of "Moderate Buy" and a consensus price target of $80.57.

Roblox Company 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.