Harel Insurance Investments & Financial Services Ltd. Makes New Investment in Roblox Corporation (NYSE:RBLX)

Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,069 shares of the company's stock, valued at approximately $820,000.

Several other hedge funds have also added to or reduced their stakes in RBLX. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Roblox during the 1st quarter worth about $890,000. Azzad Asset Management Inc. ADV acquired a new position in Roblox in the first quarter valued at about $280,000. NewSquare Capital LLC increased its stake in Roblox by 2.7% in the first quarter. NewSquare Capital LLC now owns 115,121 shares of the company's stock valued at $6,710,000 after acquiring an additional 3,065 shares during the last quarter. Amundi raised its holdings in shares of Roblox by 111.4% during the 4th quarter. Amundi now owns 3,191,137 shares of the company's stock worth $198,010,000 after buying an additional 1,681,263 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Roblox by 101.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock worth $40,762,000 after acquiring an additional 355,270 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Stock Performance

Shares of RBLX stock traded up $1.17 on Friday, hitting $103.57. 3,215,401 shares of the stock were exchanged, compared to its average volume of 8,041,105. Roblox Corporation has a one year low of $35.30 and a one year high of $106.17. The firm's 50 day moving average is $88.07 and its two-hundred day moving average is $70.67. The firm has a market capitalization of $70.25 billion, a PE ratio of -77.29 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.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. Roblox's revenue was up 30.6% 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RBLX. Bank of America boosted their price target on Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Wells Fargo & Company increased their target price on shares of Roblox from $78.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Piper Sandler restated an "overweight" rating and issued a $105.00 price target (up previously from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Wedbush upgraded shares of Roblox to a "strong-buy" rating in a research report on Tuesday. Finally, FBN Securities started coverage on shares of Roblox in a research note on Friday, March 28th. They set a "sector perform" rating and a $65.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.52.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 1,375,002 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 221,983 shares in the company, valued at $16,024,952.77. The trade was a 86.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 6,868,857 shares of company stock worth $604,140,707. 12.92% of the stock is owned by company insiders.

Roblox Company 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.