Invesco Ltd. Grows Stock Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Invesco Ltd. increased its stake in Roblox Corporation by 5.6%, holding approximately 1.7 million shares valued at $99 million as of the latest SEC filing.
• Analyst upgrades for Roblox have raised price targets significantly, with Wedbush raising theirs from $142 to $165, and several other firms also increasing their targets toward the $120-$165 range.
• Roblox's recent quarterly earnings report showed a revenue of $1.44 billion, exceeding estimates, but the company also reported a loss of ($0.41) EPS, missing analyst expectations by $0.04.

Invesco Ltd. raised its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,698,813 shares of the company's stock after buying an additional 90,788 shares during the period. Invesco Ltd. owned about 0.27% of Roblox worth $99,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in RBLX. Vanguard Group Inc. boosted its position in Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock valued at $3,359,854,000 after buying an additional 4,400,624 shares during the period. Durable Capital Partners LP purchased a new stake in shares of Roblox in the 4th quarter worth approximately $246,560,000. Ninety One UK Ltd purchased a new stake in shares of Roblox in the 1st quarter worth approximately $137,379,000. Whale Rock Capital Management LLC lifted its position in shares of Roblox by 95.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after purchasing an additional 2,326,588 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Roblox by 210.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,256,815 shares of the company's stock worth $189,840,000 after purchasing an additional 2,207,897 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RBLX shares. Wedbush upped their price target on shares of Roblox from $142.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. The Goldman Sachs Group upped their price target on shares of Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their price target on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their price target on shares of Roblox from $116.00 to $153.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Barclays upped their price target 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Roblox currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 875 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $126.72, for a total value of $110,880.00. Following the sale, the chief executive officer owned 211,559 shares in the company, valued at $26,808,756.48. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $133.67, for a total transaction of $802,020.00. Following the completion of the sale, the insider owned 301,223 shares in the company, valued at $40,264,478.41. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,127,213 shares of company stock worth $493,410,989 over the last ninety days. 12.92% of the stock is owned by insiders.

Roblox Trading Down 6.3%

Shares of Roblox stock opened at $117.41 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. Roblox Corporation has a 12-month low of $37.50 and a 12-month high of $150.59. The firm has a market capitalization of $75.73 billion, a price-to-earnings ratio of -82.10 and a beta of 1.63. The firm's 50 day simple moving average is $112.96 and its two-hundred day simple moving average is $82.83.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The company's revenue for the quarter was up 50.5% compared to the same quarter last year. Analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.