AXS Investments LLC Acquires Shares of 7,573 Roblox Corporation (NYSE:RBLX)

Key Points

• AXS Investments LLC acquired 7,573 shares of Roblox Corporation, valued at approximately $441,000, during the first quarter.
• Roblox insiders, including CEO David Baszucki, have notably sold over 5.4 million shares in the last three months, indicating a 39.74% decrease in Baszucki's ownership.
• Analysts have raised their target prices for Roblox, with Barclays and Oppenheimer setting new targets of $120.00 and $125.00, respectively, suggesting a strong outlook for the stock.

AXS Investments LLC bought a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,573 shares of the company's stock, valued at approximately $441,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Roblox by 15.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock worth $2,096,000 after acquiring an additional 4,760 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Roblox during the first quarter worth about $890,000. IFM Investors Pty Ltd increased its position in shares of Roblox by 7.2% during the first quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock worth $5,370,000 after acquiring an additional 6,180 shares during the last quarter. Montag A & Associates Inc. increased its position in shares of Roblox by 1,193.7% during the first quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock worth $1,570,000 after acquiring an additional 24,852 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Roblox during the first quarter worth about $280,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 139,507 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the sale, the chief executive officer owned 211,559 shares of the company's stock, valued at $22,253,891.21. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total value of $711,060.00. Following the sale, the insider directly owned 307,223 shares in the company, valued at approximately $36,408,997.73. The trade was a 1.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,434,585 shares of company stock worth $516,227,822. 12.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RBLX shares. The Goldman Sachs Group lifted their target price on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Barclays lifted their target price on Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Oppenheimer reiterated an "outperform" rating and issued a $125.00 price target (up from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Finally, Wedbush lifted their price target on Roblox from $142.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $117.59.

Roblox Stock Performance

RBLX opened at $134.28 on Thursday. The business's 50 day moving average is $107.85 and its 200-day moving average is $79.92. The stock has a market cap of $86.61 billion, a PE ratio of -93.90 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. Roblox Corporation has a twelve month low of $36.07 and a twelve month high of $150.59.

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

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