Donoghue Forlines LLC Acquires Shares of 39,597 Roblox Corporation (NYSE:RBLX)

Key Points

• Donoghue Forlines LLC acquired 39,597 shares of Roblox Corporation, valued at approximately $2.3 million, during the first quarter.
• Roblox has received a series of upward price target adjustments from various analysts, with the average target now set at $117.59.
• Institutional investors and hedge funds hold 94.46% of Roblox's stock, highlighting significant confidence in the company's future.

Donoghue Forlines LLC purchased a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 39,597 shares of the company's stock, valued at approximately $2,308,000.

Several other large investors also recently modified their holdings of RBLX. Mirae Asset Global Investments Co. Ltd. grew its stake in Roblox by 15.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock valued at $2,096,000 after buying an additional 4,760 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Roblox in the 1st quarter valued at approximately $890,000. IFM Investors Pty Ltd grew its stake in Roblox by 7.2% in the 1st quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock valued at $5,370,000 after buying an additional 6,180 shares in the last quarter. Montag A & Associates Inc. boosted its holdings in Roblox by 1,193.7% in the 1st quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock valued at $1,570,000 after purchasing an additional 24,852 shares during the period. Finally, Azzad Asset Management Inc. ADV bought a new position in Roblox in the 1st quarter valued at $280,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Insider Buying and Selling at Roblox

In other Roblox news, Director Andrea L. Wong sold 5,770 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $130.40, for a total value of $752,408.00. Following the transaction, the director owned 41,891 shares in the company, valued at approximately $5,462,586.40. The trade was a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony P. Lee sold 66,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $129.37, for a total transaction of $8,538,420.00. Following the completion of the transaction, the director owned 279,868 shares in the company, valued at $36,206,523.16. The trade was a 19.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,441,460 shares of company stock valued at $517,140,722. Company insiders own 12.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on RBLX shares. JPMorgan Chase & Co. raised their price target on shares of 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 price target on shares of Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Raymond James Financial downgraded shares of Roblox from a "strong-buy" rating to an "outperform" rating and raised their price target for the company from $81.00 to $130.00 in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Oppenheimer reissued an "outperform" rating and issued a $125.00 price target (up from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $117.59.

Roblox Trading Down 0.7%

Roblox stock traded down $0.88 during mid-day trading on Friday, hitting $128.75. The company's stock had a trading volume of 5,703,051 shares, compared to its average volume of 9,982,098. 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 stock has a market cap of $83.05 billion, a price-to-earnings ratio of -90.03 and a beta of 1.63. The business has a 50 day moving average price of $109.58 and a 200-day moving average price of $81.00. Roblox Corporation has a 12 month low of $36.77 and a 12 month high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The business had revenue of $1.44 billion during 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%. The business's revenue for the quarter was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) earnings per share. As a group, analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

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.