Bank of New York Mellon Corp Raises Stake in Roblox Corporation (NYSE:RBLX)

Bank of New York Mellon Corp grew its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 0.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,748,853 shares of the company's stock after purchasing an additional 12,297 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.28% of Roblox worth $101,941,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 valued at $2,096,000 after purchasing an additional 4,760 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Roblox in the first quarter worth about $890,000. Azzad Asset Management Inc. ADV purchased a new stake in Roblox in the first quarter worth about $280,000. IFM Investors Pty Ltd lifted its stake in Roblox by 7.2% in 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 period. Finally, NewSquare Capital LLC lifted its stake in Roblox by 2.7% in the first quarter. NewSquare Capital LLC now owns 115,121 shares of the company's stock worth $6,710,000 after acquiring an additional 3,065 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Price Performance

Shares of NYSE:RBLX traded up $0.59 during midday trading on Friday, reaching $105.62. 4,539,981 shares of the company's stock traded hands, compared to its average volume of 8,056,834. Roblox Corporation has a 1 year low of $35.30 and a 1 year high of $108.10. The company has a market cap of $71.64 billion, a P/E ratio of -78.82 and a beta of 1.60. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day simple moving average of $91.80 and a two-hundred day simple moving average of $72.36.

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

Insider Buying and Selling

In other news, CEO David Baszucki sold 139,507 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the completion of the transaction, the chief executive officer owned 211,559 shares of the company's stock, valued at approximately $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew D. Kaufman sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $102.58, for a total transaction of $615,480.00. Following the completion of the transaction, the insider directly owned 313,223 shares of the company's stock, valued at approximately $32,130,415.34. The trade was a 1.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,645,690 shares of company stock worth $592,729,502. Insiders own 12.92% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on RBLX. Wells Fargo & Company boosted their target price on shares of Roblox from $78.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Benchmark boosted their target price on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Macquarie boosted their target price on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. The Goldman Sachs Group boosted their target price on shares of Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Finally, FBN Securities started coverage on shares of Roblox in a report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Roblox has an average rating of "Moderate Buy" and a consensus target price of $86.45.

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.