Left Brain Wealth Management LLC Acquires Shares of 6,150 Roblox Corporation (NYSE:RBLX)

Left Brain Wealth Management LLC purchased a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,150 shares of the company's stock, valued at approximately $358,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MetLife Investment Management LLC raised its stake in Roblox by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock worth $1,873,000 after buying an additional 161 shares in the last quarter. Ballentine Partners LLC raised its stake in Roblox by 0.3% in the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock worth $4,518,000 after buying an additional 198 shares in the last quarter. Gordian Capital Singapore Pte Ltd raised its stake in Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after buying an additional 240 shares in the last quarter. Atala Financial Inc raised its stake in Roblox by 0.6% in the first quarter. Atala Financial Inc now owns 50,403 shares of the company's stock worth $2,941,000 after buying an additional 292 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its stake in Roblox by 2.5% in the first quarter. Moss Adams Wealth Advisors LLC now owns 13,614 shares of the company's stock worth $794,000 after buying an additional 327 shares in the last quarter. Institutional investors own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark upped their price target on Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. FBN Securities assumed coverage on Roblox in a research report on Friday, March 28th. They set a "sector perform" rating and a $65.00 price target on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $125.00 price target (up from $80.00) on shares of Roblox in a research report on Wednesday, June 18th. Morgan Stanley reduced their price target on Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, Roth Mkm upped their price target on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.45.

Roblox Price Performance

Shares of RBLX stock traded up $0.59 during mid-day trading on Friday, hitting $105.62. 4,539,981 shares of the stock were exchanged, compared to its average volume of 8,056,834. The company has a market cap of $71.64 billion, a PE ratio of -78.82 and a beta of 1.60. Roblox Corporation has a 52-week low of $35.30 and a 52-week high of $108.10. The firm has a fifty day moving average of $91.80 and a 200 day moving average of $72.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. Roblox's quarterly revenue was up 30.6% compared to the same quarter last year. During the same period last year, the company posted ($0.43) EPS. Research analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the sale, the chief executive officer owned 221,983 shares in the company, valued at approximately $16,024,952.77. This represents a 86.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 6,645,690 shares of company stock valued at $592,729,502. Company insiders own 12.92% of the company's stock.

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.