Longboard Asset Management LP Acquires New Position in Roblox Corporation $RBLX

Key Points

• Longboard Asset Management LP invested $258,000 in Roblox Corporation (NYSE:RBLX) by acquiring 2,457 shares during the second quarter.
• Several institutional investors have increased their stakes in Roblox, with hedge funds and other institutions now owning 94.46% of the stock.
• Roblox's stock received multiple analyst upgrades, with price targets being raised significantly, including an increase to $170 from Morgan Stanley and to $173 from BTIG Research.

Longboard Asset Management LP acquired a new stake in Roblox Corporation (NYSE:RBLX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,457 shares of the company's stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in shares of Roblox by 1.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock worth $775,000 after purchasing an additional 163 shares during the period. Commerce Bank increased its position in Roblox by 2.7% during the first quarter. Commerce Bank now owns 7,257 shares of the company's stock worth $423,000 after buying an additional 191 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Roblox by 6.1% in the 1st quarter. Advisors Asset Management Inc. now owns 3,323 shares of the company's stock valued at $194,000 after purchasing an additional 192 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Roblox by 0.3% in the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock valued at $4,518,000 after buying an additional 198 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Roblox by 3.8% in the first quarter. Signaturefd LLC now owns 6,153 shares of the company's stock valued at $359,000 after buying an additional 225 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Stock Performance

Shares of RBLX stock traded down $0.30 during trading hours on Friday, hitting $135.24. 16,746,329 shares of the company were exchanged, compared to its average volume of 7,281,631. Roblox Corporation has a 52-week low of $37.50 and a 52-week high of $150.59. The stock has a market capitalization of $87.23 billion, a price-to-earnings ratio of -94.57 and a beta of 1.62. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The firm has a fifty day simple moving average of $125.89 and a 200 day simple moving average of $93.53.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The firm had revenue of $1.44 billion during 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%. The firm's revenue for the quarter was up 50.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) earnings per share. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 192,617 shares of Roblox stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $105.13, for a total transaction of $20,249,825.21. Following the completion of the transaction, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $22,241,197.67. The trade was a 47.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony P. Lee sold 111,112 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $131.01, for a total transaction of $14,556,783.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 822,938 shares of company stock worth $92,998,426. Company insiders own 12.92% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Arete upgraded Roblox from a "sell" rating to a "neutral" rating and set a $116.00 target price for the company in a research note on Tuesday, September 9th. Benchmark upped their price target on Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Needham & Company LLC lifted their target price on Roblox from $79.00 to $159.00 and gave the company a "buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Bank of America lifted their price target on Roblox from $159.00 to $171.00 and gave the company a "buy" rating in a report on Monday, September 8th. Twenty investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.16.

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.