Exchange Traded Concepts LLC Has $31.19 Million Holdings in Roblox Corporation $RBLX

Key Points

• Exchange Traded Concepts LLC reduced its stake in Roblox Corporation (RBLX) by 27.2% during the second quarter, selling 110,696 shares and holding 296,475 shares valued at approximately $31.2 million thereafter.
• Multiple institutional investors have recently increased their positions in Roblox, with Gordian Capital Singapore boosting its holdings by 74.8% during the fourth quarter.
• Roblox's stock has received positive price target upgrades from several analysts, with Needham & Company raising its target to $159 while maintaining a "buy" rating as of August 1st.

Exchange Traded Concepts LLC cut its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 27.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,475 shares of the company's stock after selling 110,696 shares during the quarter. Exchange Traded Concepts LLC's holdings in Roblox were worth $31,189,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd boosted its position in shares of Roblox by 74.8% in 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 during the period. Larson Financial Group LLC grew its position in Roblox by 819.0% during the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Roblox during the 1st quarter valued at about $39,000. Headlands Technologies LLC purchased a new stake in Roblox during the 1st quarter valued at about $57,000. Finally, TD Private Client Wealth LLC purchased a new stake in Roblox during the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RBLX. Canaccord Genuity Group upped their target price on shares of Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Arete upgraded shares of Roblox from a "sell" rating to a "neutral" rating and set a $116.00 price objective on the stock in a research note on Tuesday, September 9th. Raymond James Financial cut shares of Roblox from a "strong-buy" rating to an "outperform" rating and increased their price objective for the stock from $81.00 to $130.00 in a research note on Wednesday, July 23rd. Piper Sandler increased their price objective on shares of Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Wolfe Research raised shares of Roblox from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Friday, August 22nd. Twenty research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.16.

Roblox Trading Down 0.2%

Shares of NYSE:RBLX traded down $0.30 during midday trading on Friday, reaching $135.24. The company's stock had a trading volume of 16,746,329 shares, compared to its average volume of 7,281,631. The business has a 50 day moving average price of $125.89 and a 200 day moving average price of $93.74. Roblox Corporation has a 1 year low of $37.50 and a 1 year high of $150.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94. The firm has a market cap of $87.23 billion, a price-to-earnings ratio of -94.57 and a beta of 1.62.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned ($0.32) EPS. The company's revenue for the quarter was up 50.5% compared to the same quarter last year. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

Insider Buying and Selling at Roblox

In other news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $122.74, for a total transaction of $8,100,840.00. Following the sale, the director directly owned 275,248 shares in the company, valued at approximately $33,783,939.52. This represents a 19.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 6,567 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $117.71, for a total value of $773,001.57. Following the sale, the chief accounting officer owned 46,866 shares in the company, valued at $5,516,596.86. The trade was a 12.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 822,938 shares of company stock worth $92,998,426. Corporate insiders own 12.92% of the company's stock.

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.