Roblox Corporation (NYSE:RBLX) Shares Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Roblox Corporation by 48.9%, now owning approximately 1.6 million shares valued at $93.2 million.
• CEO David Baszucki sold over 1.37 million shares for around $99.3 million, representing an 86.10% decrease in his holdings.
• Analysts have mixed views on Roblox stock, with price targets ranging from $70 to $152 and a consensus rating of "Moderate Buy."

Federated Hermes Inc. lifted its position in Roblox Corporation (NYSE:RBLX - Free Report) by 48.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,598,467 shares of the company's stock after purchasing an additional 524,690 shares during the quarter. Federated Hermes Inc. owned about 0.25% of Roblox worth $93,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd grew its position in Roblox by 74.8% in the 4th 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. Larson Financial Group LLC grew its holdings in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after purchasing an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Roblox in the first quarter valued at approximately $39,000. Colonial Trust Co SC purchased a new stake in Roblox during the 4th quarter worth approximately $41,000. Finally, TD Private Client Wealth LLC acquired a new stake in Roblox during the 1st quarter worth approximately $58,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Stock Performance

Roblox stock traded down $12.63 during mid-day trading on Friday, reaching $125.16. 14,997,187 shares of the company were exchanged, compared to its average volume of 8,640,285. The firm has a market cap of $84.89 billion, a PE ratio of -87.52 and a beta of 1.63. The firm's 50-day simple moving average is $104.20 and its two-hundred day simple moving average is $78.13. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. Roblox Corporation has a twelve month low of $35.30 and a twelve month high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last announced 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 net margin of 23.67% and a negative return on equity of 417.87%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned ($0.32) EPS. Roblox's revenue for the quarter was up 50.5% on a year-over-year basis. Equities analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RBLX shares. Canaccord Genuity Group raised their target price on shares of Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a report on Thursday. Macquarie lifted their price objective on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Bank of America increased their target price on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Roth Mkm upped their price objective on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Piper Sandler raised their target price on Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Activity at Roblox

In other Roblox news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 284,488 shares in the company, valued at approximately $29,555,458.32. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total transaction of $711,060.00. Following the sale, the insider owned 307,223 shares in the company, valued at $36,408,997.73. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,651,690 shares of company stock worth $593,440,562 over the last three months. 12.92% of the stock is currently owned by corporate insiders.

Roblox 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.