Aigen Investment Management LP Acquires Shares of 45,384 Roblox Corporation (NYSE:RBLX)

Key Points

• Aigen Investment Management LP has acquired 45,384 shares of Roblox Corporation (NYSE:RBLX), valued at approximately $2,645,000, during the first quarter of 2023.
• Roblox stock is experiencing insider selling, with CEO David Baszucki selling 687,500 shares for over $60 million, resulting in a 76.47% decrease in his holdings.
• Analysts have been upbeat about Roblox, with multiple firms raising their price targets, including Morgan Stanley, which increased its target from $76.00 to $170.00.

Aigen Investment Management LP acquired a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,384 shares of the company's stock, valued at approximately $2,645,000.

Other large investors have also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd raised its holdings in shares of 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 purchasing an additional 240 shares during the period. Larson Financial Group LLC raised its holdings in shares of Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after purchasing an additional 516 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Roblox during the first quarter worth $39,000. Colonial Trust Co SC acquired a new stake in shares of Roblox during the fourth quarter worth $41,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Roblox during the first quarter worth $57,000. 94.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 687,500 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the completion of the transaction, the chief executive officer owned 211,559 shares in the company, valued at approximately $18,610,845.23. This trade represents a 76.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 5,441,460 shares of company stock worth $517,140,722. Company insiders own 12.92% of the company's stock.

Roblox Stock Down 0.7%

Roblox stock opened at $128.75 on Friday. The stock has a market cap of $83.05 billion, a price-to-earnings ratio of -90.03 and a beta of 1.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The company's 50-day moving average price is $109.58 and its two-hundred day moving average price is $80.90. Roblox Corporation has a 52 week low of $36.77 and a 52 week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data 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). Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted ($0.32) EPS. The business's revenue for the quarter was up 50.5% on a year-over-year basis. On average, analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RBLX shares. Morgan Stanley increased their target price on shares of Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $125.00 price objective (up previously from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Needham & Company LLC increased their price objective on shares of Roblox from $79.00 to $159.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Raymond James Financial cut shares of Roblox from a "strong-buy" rating to an "outperform" rating and increased their price objective for the stock from $81.00 to $130.00 in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Roblox presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.59.

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.

Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Corporation (NYSE:RBLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.