GF Fund Management CO. LTD. Has $3.64 Million Stake in Roblox Corporation (NYSE:RBLX)

GF Fund Management CO. LTD. lessened its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,384 shares of the company's stock after selling 12,322 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Roblox were worth $3,636,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RBLX. FMR LLC increased its position in shares of Roblox by 89.4% during the fourth 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 in the last quarter. Wealthfront Advisers LLC raised its holdings in Roblox by 74,400.8% in the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock valued at $1,063,365,000 after acquiring an additional 17,312,325 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in 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 purchasing an additional 4,406,885 shares during the period. Durable Capital Partners LP purchased a new position in Roblox in the fourth quarter worth approximately $246,560,000. Finally, Norges Bank acquired a new position in shares of Roblox in the 4th quarter worth approximately $167,211,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Performance

NYSE:RBLX traded up $1.17 during midday trading on Friday, reaching $103.57. The stock had a trading volume of 3,215,401 shares, compared to its average volume of 8,041,105. The stock has a market capitalization of $70.25 billion, a P/E ratio of -77.29 and a beta of 1.60. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. Roblox Corporation has a 1-year low of $35.30 and a 1-year high of $106.17. The firm's fifty day simple moving average is $88.07 and its 200-day simple moving average is $70.67.

Roblox (NYSE:RBLX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The firm's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) EPS. On average, equities research analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the sale, the chief executive officer directly owned 221,983 shares of the company's stock, valued at approximately $16,024,952.77. The trade was a 86.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 6,868,857 shares of company stock worth $604,140,707 over the last 90 days. Insiders own 12.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RBLX. Oppenheimer reiterated an "outperform" rating and set a $125.00 price target (up previously from $80.00) on shares of Roblox in a report on Wednesday, June 18th. 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. JPMorgan Chase & Co. raised their price target on Roblox from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Morgan Stanley lowered their price objective on Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC reissued a "buy" rating on shares of Roblox in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.52.

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.