Envestnet Asset Management Inc. Has $3.90 Million Stock Holdings in Roblox Corporation (NYSE:RBLX)

Envestnet Asset Management Inc. cut its position in Roblox Corporation (NYSE:RBLX - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,944 shares of the company's stock after selling 6,355 shares during the period. Envestnet Asset Management Inc.'s holdings in Roblox were worth $3,902,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FMR LLC lifted its position in Roblox by 89.4% in the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after acquiring an additional 18,715,837 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Roblox by 1,084.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock valued at $278,500,000 after acquiring an additional 4,406,885 shares in the last quarter. Durable Capital Partners LP bought a new position in Roblox in the 4th quarter valued at about $246,560,000. Norges Bank bought a new position in Roblox in the 4th quarter valued at about $167,211,000. Finally, Whale Rock Capital Management LLC lifted its position in Roblox by 95.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock valued at $275,137,000 after acquiring an additional 2,326,588 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the transaction, the chief executive officer directly owned 221,983 shares in the company, valued at approximately $16,024,952.77. The trade was a 86.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 6,651,690 shares of company stock valued at $593,440,562. 12.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

RBLX has been the topic of several recent research reports. Piper Sandler raised their price target on shares of Roblox from $105.00 to $138.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James Financial cut shares of Roblox from a "strong-buy" rating to an "outperform" rating and lifted their target price for the stock from $81.00 to $130.00 in a research report on Wednesday. Bank of America lifted their target price on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. BTIG Research lifted their target price on shares of Roblox from $73.00 to $124.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, Benchmark lifted their target price on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat, Roblox currently has an average rating of "Moderate Buy" and a consensus price target of $95.95.

Roblox Trading Up 0.6%

Shares of RBLX stock opened at $118.79 on Friday. The company has a 50 day moving average of $100.68 and a 200-day moving average of $76.47. 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 Corporation has a 12-month low of $35.30 and a 12-month high of $127.99. The firm has a market cap of $80.57 billion, a P/E ratio of -88.65 and a beta of 1.60.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned ($0.43) EPS. Roblox's revenue was up 30.6% compared to the same quarter last year. Sell-side analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current year.

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.

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