IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Roblox Corporation by 70.3%, acquiring an additional 35,687 shares, raising its total holdings to 86,474 shares valued at approximately $5.04 million.
• Roblox CEO David Baszucki sold 687,500 shares at an average price of $87.97, a 76.47% decrease in his position, with total sales of nearly $60.5 million in recent months.
• Analysts have raised their price targets for Roblox, with Benchmark setting a new target of $150, while maintaining a consensus rating of "Moderate Buy".

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Roblox Corporation (NYSE:RBLX - Free Report) by 70.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,474 shares of the company's stock after purchasing an additional 35,687 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Roblox were worth $5,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. FMR LLC grew its stake in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after buying an additional 18,715,837 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Roblox by 24.3% in the 4th quarter. Renaissance Technologies LLC now owns 7,570,959 shares of the company's stock worth $438,056,000 after purchasing an additional 1,478,421 shares during the last quarter. Two Sigma Advisers LP lifted its position in Roblox by 23.7% in the 4th quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock valued at $419,867,000 after purchasing an additional 1,391,800 shares during the last quarter. Whale Rock Capital Management LLC raised its stake 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 buying an additional 2,326,588 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Roblox by 25.7% during the fourth quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock valued at $261,219,000 after buying an additional 921,822 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roblox

In related news, Director Anthony P. Lee sold 66,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $129.37, for a total value of $8,538,420.00. Following the completion of the sale, the director directly owned 279,868 shares in the company, valued at approximately $36,206,523.16. This trade represents a 19.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrea L. Wong sold 5,770 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $130.40, for a total transaction of $752,408.00. Following the transaction, the director directly owned 41,891 shares in the company, valued at approximately $5,462,586.40. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,434,585 shares of company stock worth $516,227,822. 12.92% of the stock is owned by insiders.

Roblox Stock Up 5.6%

Shares of Roblox stock traded up $7.17 on Wednesday, hitting $134.28. 7,777,645 shares of the company traded hands, compared to its average volume of 9,715,622. The company has a 50-day moving average price of $106.86 and a 200 day moving average price of $79.55. Roblox Corporation has a 12-month low of $36.07 and a 12-month high of $150.59. The company has a market cap of $86.61 billion, a PE ratio of -93.90 and a beta of 1.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94.

Roblox (NYSE:RBLX - Get Free Report) last announced its 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 business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. Roblox's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.32) EPS. Sell-side analysts predict that Roblox Corporation will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price 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. Bank of America boosted their price target on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Piper Sandler boosted their price objective on Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Macquarie increased their target price on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Barclays raised their target price on Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research note 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.