Roblox Corporation (NYSE:RBLX) Holdings Lifted by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Roblox Corporation by 38.2% during the first quarter, owning a total of 39,159 shares valued at approximately $2.28 million after acquiring an additional 10,830 shares.
• Roblox reported a quarterly revenue of $1.44 billion, surpassing analyst expectations of $1.20 billion, but posted an EPS of ($0.41) which was below estimates.
• Roblox’s stock has received multiple target price upgrades from analysts, with Needham & Company lifting its price objective from $79 to $159 and several other firms providing optimistic ratings.

Mackenzie Financial Corp increased its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 38.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,159 shares of the company's stock after purchasing an additional 10,830 shares during the quarter. Mackenzie Financial Corp's holdings in Roblox were worth $2,283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carrera Capital Advisors grew its position in shares of Roblox by 1.9% during the first quarter. Carrera Capital Advisors now owns 17,826 shares of the company's stock worth $1,039,000 after buying an additional 338 shares in the last quarter. TD Asset Management Inc raised its holdings in Roblox by 4.7% in the first quarter. TD Asset Management Inc now owns 136,171 shares of the company's stock valued at $7,937,000 after acquiring an additional 6,174 shares in the last quarter. HB Wealth Management LLC acquired a new stake in Roblox in the first quarter valued at approximately $474,000. Drive Wealth Management LLC purchased a new stake in Roblox during the first quarter worth approximately $241,000. Finally, Cetera Investment Advisers lifted its stake in Roblox by 10.7% during the first quarter. Cetera Investment Advisers now owns 34,183 shares of the company's stock worth $1,993,000 after purchasing an additional 3,296 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Stock Up 5.6%

NYSE RBLX traded up $7.17 during mid-day trading on Wednesday, reaching $134.28. 7,777,645 shares of the company's stock traded hands, compared to its average volume of 9,715,622. Roblox Corporation has a 1-year low of $36.07 and a 1-year high of $150.59. The company has a fifty day simple moving average of $106.86 and a 200-day simple moving average of $79.55. 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 company has a market cap of $86.61 billion, a price-to-earnings ratio of -93.90 and a beta of 1.63.

Roblox (NYSE:RBLX - Get Free Report) last issued 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 analyst estimates of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. Roblox's revenue was up 50.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.32) EPS. As a group, equities research analysts expect that Roblox Corporation will post -1.49 EPS for the current year.

Analysts Set New Price Targets

RBLX has been the subject of several recent analyst reports. Benchmark boosted their target price on Roblox from $77.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Piper Sandler boosted their target price on Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their target price on Roblox from $116.00 to $153.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Roth Mkm boosted their price objective on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered Roblox from a "hold" rating to a "sell" rating in a report on Saturday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Roblox has a consensus rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 687,500 shares of Roblox stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the sale, the chief executive officer owned 211,559 shares of the company's stock, valued at $18,610,845.23. The trade was a 76.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 5,434,585 shares of company stock worth $516,227,822. Insiders own 12.92% of the company's stock.

About Roblox

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.