Azzad Asset Management Inc. ADV Purchases Shares of 4,812 Roblox Co. (NYSE:RBLX)

Azzad Asset Management Inc. ADV bought a new stake in shares of Roblox Co. (NYSE:RBLX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,812 shares of the company's stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBLX. Gordian Capital Singapore Pte Ltd raised its position 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. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Roblox in the 1st quarter worth approximately $39,000. Colonial Trust Co SC purchased a new position in Roblox in the fourth quarter valued at about $41,000. Parkside Financial Bank & Trust lifted its stake in Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after acquiring an additional 230 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock worth $55,000 after purchasing an additional 195 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 6,391 shares of Roblox stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total value of $515,498.06. Following the sale, the chief accounting officer now owns 73,931 shares of the company's stock, valued at approximately $5,963,274.46. This trade represents a 7.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 60,047 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.97, for a total value of $5,762,710.59. Following the transaction, the chief executive officer now directly owns 211,559 shares of the company's stock, valued at approximately $20,303,317.23. This trade represents a 22.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,253,072 shares of company stock worth $436,291,786 over the last three months. Corporate insiders own 12.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RBLX. Piper Sandler restated an "overweight" rating and issued a $105.00 price objective (up from $85.00) on shares of Roblox in a research note on Thursday, June 5th. Citigroup reiterated an "overweight" rating on shares of Roblox in a research note on Monday. Oppenheimer increased their target price on Roblox from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Wedbush restated a "hold" rating on shares of Roblox in a research report on Monday. Finally, Benchmark boosted their target price on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.09.

Roblox Stock Up 3.4%

Shares of NYSE:RBLX traded up $3.26 during trading on Monday, hitting $100.43. 9,310,459 shares of the company's stock traded hands, compared to its average volume of 7,936,459. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. Roblox Co. has a 52 week low of $34.41 and a 52 week high of $100.74. The company has a 50-day moving average price of $74.96 and a 200-day moving average price of $66.04. The company has a market cap of $68.12 billion, a price-to-earnings ratio of -69.26 and a beta of 1.56.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The firm's revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) EPS. As a group, research analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

About Roblox

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.