Brown Advisory Inc. Has $8.88 Million Stock Position in Roblox Corporation (NYSE:RBLX)

Brown Advisory Inc. cut its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 29.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 152,357 shares of the company's stock after selling 62,557 shares during the period. Brown Advisory Inc.'s holdings in Roblox were worth $8,881,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RBLX. Gordian Capital Singapore Pte Ltd increased its stake in Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after acquiring an additional 240 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Roblox during the first quarter valued at about $39,000. Colonial Trust Co SC bought a new position in Roblox during the fourth quarter valued at about $41,000. Rakuten Securities Inc. increased its stake in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after acquiring an additional 195 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Roblox by 188.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock valued at $56,000 after acquiring an additional 633 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. BMO Capital Markets restated an "outperform" rating and set a $95.00 price target (up from $82.00) on shares of Roblox in a research note on Friday, May 30th. Morgan Stanley decreased their price objective on Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. FBN Securities started coverage on Roblox in a research note on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price objective on the stock. Finally, Macquarie upped their price objective on Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.45.

Roblox Trading Up 0.6%

RBLX traded up $0.59 during mid-day trading on Friday, reaching $105.62. The stock had a trading volume of 4,539,981 shares, compared to its average volume of 8,056,834. The stock has a market capitalization 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 firm's fifty day simple moving average is $91.80 and its two-hundred day simple moving average is $72.45. Roblox Corporation has a 52 week low of $35.30 and a 52 week high of $108.10.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) 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 quarterly revenue was up 30.6% compared to the same quarter last year. During the same period last year, the company earned ($0.43) EPS. On average, equities analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the transaction, the chief executive officer directly owned 221,983 shares in the company, valued at approximately $16,024,952.77. This trade represents a 86.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 6,645,690 shares of company stock valued at $592,729,502. 12.92% of the stock is currently owned by company insiders.

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.