LPL Financial LLC Trims Stock Holdings in Roblox Corporation (NYSE:RBLX)

LPL Financial LLC trimmed its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,015 shares of the company's stock after selling 3,291 shares during the quarter. LPL Financial LLC's holdings in Roblox were worth $6,996,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd increased its position in Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after purchasing an additional 240 shares in the last quarter. Larson Financial Group LLC increased its position in Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after acquiring an additional 516 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Roblox in the 1st quarter valued at approximately $39,000. Colonial Trust Co SC acquired a new position in Roblox in the 4th quarter valued at approximately $41,000. Finally, TD Private Client Wealth LLC acquired a new position in Roblox in the 1st quarter valued at approximately $58,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David Baszucki sold 875 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $126.72, for a total value of $110,880.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anthony P. Lee sold 66,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $129.37, for a total transaction of $8,538,420.00. Following the sale, the director owned 279,868 shares of the company's stock, valued at $36,206,523.16. This trade represents a 19.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,215,535 shares of company stock worth $500,468,909. Company insiders own 12.92% of the company's stock.

Roblox Stock Down 0.9%

NYSE RBLX traded down $1.23 on Tuesday, hitting $129.51. 5,703,553 shares of the company were exchanged, compared to its average volume of 9,921,019. The stock has a fifty day moving average of $111.20 and a 200-day moving average of $81.78. The company has a market cap of $83.54 billion, a PE ratio of -90.57 and a beta of 1.63. 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.

Roblox (NYSE:RBLX - Get Free Report) last announced its 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 analysts' expectations of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The business's revenue for the quarter was up 50.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. As a group, analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

RBLX has been the subject of several recent research reports. Wells Fargo & Company upped 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. Canaccord Genuity Group upped their price target on shares of Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Raymond James Financial cut shares of Roblox from a "strong-buy" rating to an "outperform" rating and upped their price target for the company from $81.00 to $130.00 in a research report on Wednesday, July 23rd. Needham & Company LLC upped their price target on shares of Roblox from $79.00 to $159.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Benchmark upped their price objective on shares of Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.