Cwm LLC Increases Stock Holdings in Roblox Corporation (NYSE:RBLX)

CWM LLC raised its position in Roblox Corporation (NYSE:RBLX - Free Report) by 66.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 160,713 shares of the company's stock after purchasing an additional 64,111 shares during the period. CWM LLC's holdings in Roblox were worth $9,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RBLX. Proficio Capital Partners LLC purchased a new position in shares of Roblox during the 4th quarter worth $6,455,000. Independent Advisor Alliance raised its holdings in Roblox by 23.6% in the 4th quarter. Independent Advisor Alliance now owns 11,178 shares of the company's stock valued at $647,000 after buying an additional 2,132 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Roblox in the 4th quarter valued at about $250,000. EverSource Wealth Advisors LLC raised its holdings in Roblox by 188.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock valued at $56,000 after buying an additional 633 shares during the period. Finally, Vestcor Inc raised its holdings in Roblox by 16.8% in the 4th quarter. Vestcor Inc now owns 9,711 shares of the company's stock valued at $562,000 after buying an additional 1,394 shares during the period. Hedge funds and other institutional investors own 94.46% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on RBLX. Macquarie lifted their target price on Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Roth Mkm lifted their target price on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $105.00 target price (up from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Canaccord Genuity Group lifted their target price on Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Roblox in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.45.

Roblox Price Performance

RBLX stock traded up $0.55 on Tuesday, reaching $112.38. 8,099,464 shares of the company's stock were exchanged, compared to its average volume of 8,056,931. The stock has a fifty day moving average of $92.61 and a 200-day moving average of $72.82. Roblox Corporation has a twelve month low of $35.30 and a twelve month high of $112.92. The firm has a market cap of $76.22 billion, a PE ratio of -83.86 and a beta of 1.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. The company 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%. Roblox's revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) earnings per share. As a group, equities analysts predict that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $102.58, for a total value of $615,480.00. Following the sale, the insider directly owned 313,223 shares of the company's stock, valued at approximately $32,130,415.34. This trade represents a 1.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony P. Lee sold 66,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total value of $6,856,740.00. Following the completion of the sale, the director directly owned 284,488 shares in the company, valued at approximately $29,555,458.32. The trade was a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,645,690 shares of company stock valued at $592,729,502 over the last quarter. Insiders own 12.92% of the company's stock.

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.