Gulf International Bank UK Ltd Cuts Stake in Roblox Corporation (NYSE:RBLX)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Roblox Corporation by 26.9%, selling 10,016 shares, and now holds 27,269 shares valued at approximately $1.59 million.
• Roblox's CEO, David Baszucki, sold 687,500 shares at an average price of $87.97, significantly reducing his stake by 76.47%.
• Analysts have increased their price targets for Roblox, with Piper Sandler raising it to $138.00 and Morgan Stanley to $170.00, indicating a positive outlook amidst a current average consensus price target of $117.59.

Gulf International Bank UK Ltd reduced its position in Roblox Corporation (NYSE:RBLX - Free Report) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,269 shares of the company's stock after selling 10,016 shares during the quarter. Gulf International Bank UK Ltd's holdings in Roblox were worth $1,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MetLife Investment Management LLC increased its position in shares of Roblox by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after acquiring an additional 161 shares during the period. SBI Securities Co. Ltd. grew its stake in Roblox by 1.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock valued at $775,000 after purchasing an additional 163 shares during the last quarter. Commerce Bank grew its stake in Roblox by 2.7% during the 1st quarter. Commerce Bank now owns 7,257 shares of the company's stock valued at $423,000 after purchasing an additional 191 shares during the last quarter. Ballentine Partners LLC grew its stake in Roblox by 0.3% during the 1st quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock valued at $4,518,000 after purchasing an additional 198 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Roblox by 3.8% during the 1st quarter. Signaturefd LLC now owns 6,153 shares of the company's stock valued at $359,000 after purchasing an additional 225 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 687,500 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the completion of the transaction, the chief executive officer owned 211,559 shares in the company, valued at $18,610,845.23. This represents a 76.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 5,127,213 shares of company stock worth $493,410,989. 12.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on RBLX shares. Piper Sandler boosted their price target on Roblox from $105.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Barclays boosted their price target on Roblox from $62.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Oppenheimer reiterated an "outperform" rating and set a $125.00 price target (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Roth Mkm upped their price target on shares of Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Morgan Stanley upped their price target on shares of Roblox from $76.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and a consensus price target of $117.59.

Roblox Stock Down 1.3%

RBLX opened at $125.14 on Friday. Roblox Corporation has a twelve month low of $37.50 and a twelve month 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 company has a 50-day moving average price of $112.53 and a 200 day moving average price of $82.49. The company has a market cap of $80.72 billion, a PE ratio of -87.51 and a beta of 1.63.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate 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 last year, the company earned ($0.32) EPS. The firm's revenue for the quarter was up 50.5% on a year-over-year basis. Sell-side analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.

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