Benjamin Edwards Inc. Sells 3,918 Shares of Roblox Corporation (NYSE:RBLX)

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. lessened its position in Roblox Corporation (NYSE:RBLX - Free Report) by 9.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 38,823 shares of the company's stock after selling 3,918 shares during the period. Benjamin Edwards Inc.'s holdings in Roblox were worth $2,263,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its position in Roblox by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock worth $1,873,000 after buying an additional 161 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Roblox by 1.2% in the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock worth $775,000 after buying an additional 163 shares during the last quarter. Commerce Bank increased its position in Roblox by 2.7% in the first quarter. Commerce Bank now owns 7,257 shares of the company's stock worth $423,000 after buying an additional 191 shares during the last quarter. Ballentine Partners LLC increased its position in Roblox by 0.3% in the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock worth $4,518,000 after buying an additional 198 shares during the last quarter. Finally, Signaturefd LLC increased its position in Roblox by 3.8% in the first quarter. Signaturefd LLC now owns 6,153 shares of the company's stock worth $359,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Insider Transactions at Roblox

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of Roblox stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $129.37, for a total transaction of $8,538,420.00. Following the completion of the sale, the director owned 279,868 shares of the company's stock, valued at $36,206,523.16. The trade was a 19.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 875 shares of Roblox stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $126.72, for a total value of $110,880.00. Following the sale, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $26,808,756.48. This trade represents a 0.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,127,213 shares of company stock worth $493,410,989. 12.92% of the stock is currently owned by company insiders.

Roblox Price Performance

Roblox stock traded down $1.64 during midday trading on Thursday, hitting $125.14. 6,493,902 shares of the company's stock were exchanged, compared to its average volume of 8,731,896. Roblox Corporation has a 52-week low of $37.50 and a 52-week high of $150.59. The stock has a 50-day moving average price of $111.91 and a two-hundred day moving average price of $82.09. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $80.72 billion, a P/E ratio of -87.51 and a beta of 1.63.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on RBLX shares. Morgan Stanley raised their target price on Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup raised their target price on Roblox from $123.00 to $152.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on Roblox from $116.00 to $153.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Canaccord Genuity Group raised their target price on Roblox from $125.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Piper Sandler raised their target price on Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.59.

Roblox 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.