Emerald Advisers LLC Increases Position in Roblox Corporation (NYSE:RBLX)

Emerald Advisers LLC boosted its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 187.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,559 shares of the company's stock after acquiring an additional 4,277 shares during the period. Emerald Advisers LLC's holdings in Roblox were worth $382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after purchasing an additional 18,715,837 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Roblox by 1,084.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock worth $278,500,000 after buying an additional 4,406,885 shares during the period. Durable Capital Partners LP purchased a new position in shares of Roblox during the fourth quarter worth about $246,560,000. Norges Bank purchased a new position in shares of Roblox during the fourth quarter worth about $167,211,000. Finally, Ninety One UK Ltd acquired a new position in Roblox in the 1st quarter valued at about $137,379,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of recent research reports. Wedbush raised Roblox to a "strong-buy" rating in a report on Tuesday, July 1st. Barclays upped their price objective on shares of Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Roblox from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Canaccord Genuity Group increased their price target on shares of Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $95.00 price objective (up previously from $82.00) on shares of Roblox in a report on Friday, May 30th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.45.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 139,507 shares of the firm'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 transaction, the chief executive officer directly owned 211,559 shares of the company's stock, valued at $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony P. Lee sold 66,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 284,488 shares in the company, valued at $29,555,458.32. This trade represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,645,690 shares of company stock worth $592,729,502 over the last three months. 12.92% of the stock is owned by insiders.

Roblox Trading Up 5.9%

Shares of RBLX traded up $6.23 during mid-day trading on Monday, hitting $111.92. The company had a trading volume of 8,008,542 shares, compared to its average volume of 8,598,033. Roblox Corporation has a 1-year low of $35.30 and a 1-year high of $111.96. The business's 50-day simple moving average is $91.80 and its 200-day simple moving average is $72.45. The stock has a market cap of $75.91 billion, a PE ratio of -83.52 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 announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The business's quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.43) EPS. Sell-side analysts forecast that Roblox Corporation will post -1.49 earnings per share 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.