Roblox Corporation (NYSE:RBLX) Shares Purchased by ING Groep NV

Key Points

• ING Groep NV increased its stake in Roblox Corporation by 149.3% during the first quarter, owning 376,400 shares valued at approximately $21.94 million.
• Multiple hedge funds, including FMR LLC and Whale Rock Capital Management, also significantly increased their holdings in Roblox, demonstrating growing institutional investment interest.
• Roblox's stock price target has been raised by several analysts, with Barclays setting a new target of $120 and Wedbush raising it to $165, indicating bullish sentiment on the company's future performance.

ING Groep NV raised its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 149.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 376,400 shares of the company's stock after acquiring an additional 225,400 shares during the quarter. ING Groep NV owned approximately 0.06% of Roblox worth $21,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Earned Wealth Advisors LLC lifted its holdings in Roblox by 70.0% in the 1st quarter. Earned Wealth Advisors LLC now owns 7,383 shares of the company's stock valued at $430,000 after purchasing an additional 3,040 shares in the last quarter. Blair William & Co. IL grew its stake in Roblox by 15.8% in the 1st quarter. Blair William & Co. IL now owns 11,169 shares of the company's stock worth $651,000 after acquiring an additional 1,527 shares during the period. Bank of Nova Scotia grew its stake in Roblox by 2.6% in the 1st quarter. Bank of Nova Scotia now owns 21,300 shares of the company's stock worth $1,242,000 after acquiring an additional 533 shares during the period. R Squared Ltd raised its holdings in Roblox by 230.3% in the 1st quarter. R Squared Ltd now owns 4,790 shares of the company's stock valued at $279,000 after acquiring an additional 3,340 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Roblox during the 1st quarter worth $1,726,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Roblox Stock Up 5.6%

Shares of RBLX stock traded up $7.17 during trading hours on Wednesday, hitting $134.28. 7,777,645 shares of the company were exchanged, compared to its average volume of 9,715,622. The stock has a market capitalization of $86.61 billion, a price-to-earnings ratio of -93.90 and a beta of 1.63. Roblox Corporation has a one year low of $36.07 and a one year high of $150.59. The business's 50-day simple moving average is $106.86 and its two-hundred day simple moving average is $79.55. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business earned ($0.32) EPS. The company's quarterly revenue was up 50.5% on a year-over-year basis. Sell-side analysts predict that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 687,500 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $18,610,845.23. This represents a 76.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 5,434,585 shares of company stock valued at $516,227,822 over the last three months. Insiders own 12.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RBLX shares. Raymond James Financial downgraded Roblox from a "strong-buy" rating to an "outperform" rating and increased their target price for the stock from $81.00 to $130.00 in a research report on Wednesday, July 23rd. Morgan Stanley boosted their target price on Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Barclays increased their target price on shares of Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their price target on shares of Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Oppenheimer reissued an "outperform" rating and issued a $125.00 target price (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $117.59.

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.