Edgestream Partners L.P. Makes New Investment in Roblox Corporation (NYSE:RBLX)

Edgestream Partners L.P. bought a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 138,232 shares of the company's stock, valued at approximately $8,058,000.

Other hedge funds have also added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its stake in shares of Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after purchasing an additional 161 shares during the period. Ballentine Partners LLC raised its holdings in shares of Roblox by 0.3% during the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock valued at $4,518,000 after acquiring an additional 198 shares in the last quarter. Gordian Capital Singapore Pte Ltd raised its holdings in shares of 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 in the last quarter. Atala Financial Inc raised its holdings in shares of Roblox by 0.6% during the first quarter. Atala Financial Inc now owns 50,403 shares of the company's stock valued at $2,941,000 after acquiring an additional 292 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its holdings in shares of Roblox by 2.5% during the first quarter. Moss Adams Wealth Advisors LLC now owns 13,614 shares of the company's stock valued at $794,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 139,507 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $105.19, for a total value of $14,674,741.33. Following the sale, the chief executive officer owned 211,559 shares in the company, valued at $22,253,891.21. This represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony P. Lee sold 66,000 shares of the company'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 owned 284,488 shares in the company, valued at $29,555,458.32. The trade was a 18.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,645,690 shares of company stock worth $592,729,502. 12.92% of the stock is currently owned by insiders.

Roblox Price Performance

NYSE:RBLX traded up $2.39 during trading hours on Thursday, reaching $121.41. The stock had a trading volume of 3,593,794 shares, compared to its average volume of 8,089,980. The stock has a market capitalization of $82.35 billion, a PE ratio of -90.50 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 company has a 50 day moving average price of $94.41 and a two-hundred day moving average price of $73.41. Roblox Corporation has a 52 week low of $35.30 and a 52 week high of $121.72.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.43) EPS. As a group, sell-side analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RBLX shares. Benchmark upped their target price on Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Barclays increased their price objective on Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Oppenheimer reaffirmed an "outperform" rating and set a $125.00 price objective (up from $80.00) on shares of Roblox in a research report on Wednesday, June 18th. Canaccord Genuity Group raised their target price on Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.68.

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.