Maia Wealth LLC Decreases Stock Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Maia Wealth LLC reduced its stake in Roblox Corporation by 15.1%, owning 12,541 shares valued at $714,000 after selling 2,231 shares in the first quarter.
• Research analysts have rated Roblox with a consensus of "Moderate Buy", with an average target price of $117.59, reflecting positive sentiment in the market.
• CEO David Baszucki sold 687,500 shares at an average price of $87.97, equating to a transaction worth over $60 million, significantly reducing his ownership percentage.

Maia Wealth LLC lowered its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,541 shares of the company's stock after selling 2,231 shares during the quarter. Maia Wealth LLC's holdings in Roblox were worth $714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Roblox by 8.3% in the first quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock worth $3,359,854,000 after purchasing an additional 4,400,624 shares in the last quarter. Two Sigma Advisers LP lifted its position in Roblox by 23.7% during the 4th quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock worth $419,867,000 after buying an additional 1,391,800 shares in the last quarter. Whale Rock Capital Management LLC lifted its position in Roblox by 95.8% during 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. Two Sigma Investments LP raised its position in Roblox by 25.7% in the 4th quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock worth $261,219,000 after purchasing an additional 921,822 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Roblox by 24.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,363,982 shares of the company's stock valued at $252,501,000 after acquiring an additional 871,027 shares during the period. Institutional investors own 94.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Barclays raised their target price on shares of Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. 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 report on Wednesday, July 23rd. BTIG Research set a $131.00 price objective on shares of Roblox and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Morgan Stanley upped their target price on shares of Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $117.59.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 687,500 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.97, for a total value 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. This trade represents a 76.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 5,127,213 shares of company stock valued at $493,410,989. 12.92% of the stock is owned by insiders.

Roblox Price Performance

Shares of RBLX stock traded down $1.64 on Thursday, reaching $125.14. The company's stock had a trading volume of 6,493,902 shares, compared to its average volume of 8,731,896. 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 Corporation has a 12-month low of $37.50 and a 12-month high of $150.59. The company has a market capitalization of $80.72 billion, a P/E ratio of -87.51 and a beta of 1.63. The stock's 50 day simple moving average is $111.91 and its 200-day simple moving average is $82.09.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The company's revenue for the quarter was up 50.5% on a year-over-year basis. During the same period last year, the firm earned ($0.32) EPS. As a group, equities analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.