Ethic Inc. Takes Position in Roblox Corporation $RBLX

Key Points

• Ethic Inc. bought 8,758 shares of Roblox Corporation, valued at approximately $534,000, marking significant new investment interest in the company.
• CEO David Baszucki sold 687,500 shares of Roblox stock, resulting in a 76.47% decrease in his ownership, highlighting significant insider activity.
• Several analysts have recently upgraded Roblox's stock ratings, with price targets ranging from $80.00 to $170.00, indicating positive market sentiment around the company's future performance.

Ethic Inc. bought a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,758 shares of the company's stock, valued at approximately $534,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RBLX. Vanguard Group Inc. increased its stake in Roblox by 8.3% in the first quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock valued at $3,359,854,000 after acquiring an additional 4,400,624 shares during the period. Durable Capital Partners LP bought a new stake in Roblox during the fourth quarter worth about $246,560,000. Ninety One UK Ltd bought a new stake in Roblox during the first quarter worth about $137,379,000. Whale Rock Capital Management LLC grew its stake in Roblox by 95.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after buying an additional 2,326,588 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Roblox by 210.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,256,815 shares of the company's stock worth $189,840,000 after buying an additional 2,207,897 shares during the last quarter. Institutional investors own 94.46% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on RBLX shares. Piper Sandler upped their price objective on shares of Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Cowen reaffirmed a "sell" rating on shares of Roblox in a research note on Monday, August 18th. Oppenheimer reaffirmed an "outperform" rating and set a $125.00 price objective (up from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Wall Street Zen cut shares of Roblox from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Twenty equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.00.

Insider Activity at Roblox

In other news, insider Arvind Chakravarthy sold 20,552 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $117.71, for a total transaction of $2,419,175.92. Following the completion of the sale, the insider owned 242,469 shares of the company's stock, valued at $28,541,025.99. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $133.67, for a total transaction of $802,020.00. Following the sale, the insider directly owned 301,223 shares of the company's stock, valued at $40,264,478.41. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,935,047 shares of company stock valued at $478,661,185 over the last three months. Insiders own 12.92% of the company's stock.

Roblox Trading Down 0.7%

NYSE RBLX traded down $0.93 during trading hours on Wednesday, hitting $123.83. The company's stock had a trading volume of 1,771,200 shares, compared to its average volume of 8,852,685. The stock has a fifty day moving average of $116.21 and a 200 day moving average of $85.30. Roblox Corporation has a twelve month low of $37.50 and a twelve month high of $150.59. The firm has a market capitalization of $79.87 billion, a P/E ratio of -86.73 and a beta of 1.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%.The company's revenue for the quarter was up 50.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.32) earnings per share. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.