Roblox Corporation (NYSE:RBLX) Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. sold 3,918 shares of Roblox Corporation, reducing its stake by 9.2%, holding a total of 38,823 shares valued at approximately $2.26 million.
• Roblox's CEO David Baszucki sold 687,500 shares of the company, decreasing his position by 76.47%, with total insider sales in the last quarter amounting to $500 million.
• Despite a revenue increase of 50.5% year-over-year, Roblox reported a loss of ($0.41) per share, missing analysts' consensus estimates, and has a market cap of approximately $84.43 billion.

Benjamin Edwards Inc. reduced its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,823 shares of the company's stock after selling 3,918 shares during the quarter. Benjamin Edwards Inc.'s holdings in Roblox were worth $2,263,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RBLX. Vanguard Group Inc. lifted its stake in shares of Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock valued at $3,359,854,000 after purchasing an additional 4,400,624 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Roblox by 23.7% in the 4th quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock valued at $419,867,000 after purchasing an additional 1,391,800 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of Roblox by 95.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock valued at $275,137,000 after purchasing an additional 2,326,588 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Roblox by 25.7% in the 4th quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock valued at $261,219,000 after purchasing an additional 921,822 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Roblox by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,363,982 shares of the company's stock valued at $252,501,000 after purchasing an additional 871,027 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 687,500 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the transaction, the chief executive officer owned 211,559 shares in the company, valued at $18,610,845.23. This trade represents a 76.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 5,127,213 shares of company stock valued at $493,410,989. Corporate insiders own 12.92% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RBLX. Raymond James Financial lowered Roblox from a "strong-buy" rating to an "outperform" rating and upped their price target for the company from $81.00 to $130.00 in a research note on Wednesday, July 23rd. Citigroup increased their target price on Roblox from $123.00 to $152.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Roth Mkm increased their target price on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Barclays increased their target price on Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $117.59.

Roblox Stock Down 6.3%

Shares of RBLX traded down $7.87 during mid-day trading on Friday, reaching $117.41. The company's stock had a trading volume of 18,711,524 shares, compared to its average volume of 9,255,519. Roblox Corporation has a 12-month low of $37.50 and a 12-month high of $150.59. The stock has a market cap of $75.73 billion, a PE ratio of -82.10 and a beta of 1.63. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. The company's 50 day moving average is $112.96 and its 200 day moving average is $82.83.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The company's revenue was up 50.5% compared to the same quarter last year. Equities analysts anticipate that Roblox Corporation will post -1.49 EPS 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.