Financial Harvest LLC Makes New Investment in Roblox Corporation (NYSE:RBLX)

Financial Harvest LLC purchased a new stake in Roblox Corporation (NYSE:RBLX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,242 shares of the company's stock, valued at approximately $655,000. Roblox comprises 0.4% of Financial Harvest LLC's investment portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd boosted its holdings in 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 purchasing an additional 240 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Roblox by 819.0% during 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 stake in Roblox during the first quarter valued at approximately $39,000. Colonial Trust Co SC acquired a new stake in Roblox during the fourth quarter valued at approximately $41,000. Finally, TD Private Client Wealth LLC acquired a new stake in Roblox during the first quarter valued at approximately $58,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction dated Monday, May 5th. The stock was 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 of the company's stock, valued at $16,024,952.77. The trade was a 86.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 6,645,690 shares of company stock valued at $592,729,502. 12.92% of the stock is currently owned by corporate insiders.

Roblox Trading Up 1.8%

Shares of RBLX opened at $124.35 on Friday. Roblox Corporation has a twelve month low of $35.30 and a twelve month high of $124.60. The company has a market cap of $84.34 billion, a P/E ratio of -92.80 and a beta of 1.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. The company's fifty day simple moving average is $96.51 and its 200-day simple moving average is $74.31.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business earned ($0.43) EPS. The firm's quarterly revenue was up 30.6% on a year-over-year basis. As a group, analysts expect that Roblox Corporation will post -1.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wedbush raised shares of Roblox to a "strong-buy" rating in a research note on Tuesday, July 1st. Oppenheimer restated an "outperform" rating and set a $125.00 target price (up previously from $80.00) on shares of Roblox in a research report on Wednesday, June 18th. Piper Sandler restated an "overweight" rating and set a $105.00 target price (up previously from $85.00) on shares of Roblox in a research report on Thursday, June 5th. JPMorgan Chase & Co. increased their price target on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Bank of America raised their target price on shares of Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $86.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.