Roblox Corporation (NYSE:RBLX) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Roblox Corporation by 10.7% in the first quarter, owning 34,183 shares valued at approximately $1.99 million.
• Roblox's CEO, David Baszucki, sold 687,500 shares for over $60 million, resulting in a significant decrease in his ownership stake by 76.47%.
• Analyst reports have recently boosted price targets for Roblox, with BMO Capital Markets increasing theirs from $135 to $150, indicating strong market interest and expectations.

Cetera Investment Advisers lifted its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,183 shares of the company's stock after acquiring an additional 3,296 shares during the period. Cetera Investment Advisers' holdings in Roblox were worth $1,993,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RBLX. Gordian Capital Singapore Pte Ltd raised its holdings in shares of Roblox by 74.8% in the 4th 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. Larson Financial Group LLC raised its holdings in shares of Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after purchasing an additional 516 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Roblox in the 1st quarter worth about $39,000. Colonial Trust Co SC purchased a new position in shares of Roblox in the 4th quarter worth about $41,000. Finally, TD Private Client Wealth LLC purchased a new position in shares of Roblox in the 1st quarter worth about $58,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Stock Performance

RBLX traded down $0.88 during trading on Friday, reaching $128.75. 5,703,051 shares of the company were exchanged, compared to its average volume of 9,982,098. The stock has a market cap of $83.05 billion, a P/E ratio of -90.03 and a beta of 1.63. The firm has a 50 day moving average of $109.58 and a 200 day moving average of $81.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. Roblox Corporation has a 52 week low of $36.77 and a 52 week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last issued 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). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. Roblox's quarterly revenue was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) earnings per share. On average, sell-side analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 687,500 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer owned 211,559 shares in the company, valued at approximately $18,610,845.23. The trade was a 76.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 5,441,460 shares of company stock worth $517,140,722. Insiders own 12.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RBLX shares. Citigroup raised their target price on Roblox from $123.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Barclays raised their target price on Roblox from $62.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Roth Mkm raised their target price on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Bank of America raised their target price on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $117.59.

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.