HB Wealth Management LLC Invests $474,000 in Roblox Corporation (NYSE:RBLX)

Key Points

• HB Wealth Management LLC invested $474,000 in Roblox Corporation, acquiring 8,126 shares in the 1st quarter, indicating growing institutional interest in the company.
• Roblox Corporation's stock has recently seen significant price target adjustments from various analysts, including a hike to $152.00 by Citigroup, reflecting bullish sentiment in the market despite some earnings misses.
• Roblox CEO David Baszucki sold over 1.3 million shares, reducing his stake by 86.10%, which raises questions about insider confidence as the company faced a negative quarterly earnings report.

HB Wealth Management LLC bought a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 8,126 shares of the company's stock, valued at approximately $474,000.

Other institutional investors also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd grew its position in shares of Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after buying an additional 240 shares during the period. Larson Financial Group LLC grew its position in shares of Roblox by 819.0% during the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after buying an additional 516 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Roblox during the 1st quarter worth about $39,000. Colonial Trust Co SC acquired a new position in shares of Roblox during the 4th quarter worth about $41,000. Finally, TD Private Client Wealth LLC acquired a new position in shares of Roblox during the 1st quarter worth about $58,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RBLX. Morgan Stanley decreased their target price on Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group lifted their price objective on Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Oppenheimer reiterated an "outperform" rating and set a $125.00 price objective (up previously from $80.00) on shares of Roblox in a report on Wednesday, June 18th. BMO Capital Markets lifted their price objective on Roblox from $95.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Citigroup lifted their price objective on Roblox from $123.00 to $152.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $99.73.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of the business's 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 transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 6,651,690 shares of company stock worth $593,440,562. 12.92% of the stock is owned by insiders.

Roblox Trading Up 10.2%

NYSE RBLX opened at $137.65 on Friday. The stock has a market capitalization of $93.37 billion, a price-to-earnings ratio of -102.72 and a beta of 1.60. The stock's 50 day moving average price is $104.20 and its two-hundred day moving average price 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 52 week low of $35.30 and a 52 week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last posted 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). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 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 50.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.32) EPS. As a group, analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.

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