Merit Financial Group LLC Buys 34,554 Shares of Roblox Co. (NYSE:RBLX)

Merit Financial Group LLC increased its stake in Roblox Co. (NYSE:RBLX - Free Report) by 271.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,282 shares of the company's stock after buying an additional 34,554 shares during the period. Merit Financial Group LLC's holdings in Roblox were worth $2,756,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Yousif Capital Management LLC grew its holdings in Roblox by 3.8% in the fourth quarter. Yousif Capital Management LLC now owns 6,672 shares of the company's stock worth $386,000 after purchasing an additional 245 shares during the period. Choreo LLC grew its holdings in Roblox by 7.0% in the fourth quarter. Choreo LLC now owns 21,374 shares of the company's stock worth $1,248,000 after purchasing an additional 1,399 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Roblox in the fourth quarter worth about $7,362,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Roblox by 13.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 44,439 shares of the company's stock worth $2,571,000 after purchasing an additional 5,387 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in Roblox in the fourth quarter worth about $524,000. 94.46% of the stock is owned by institutional investors.

Roblox Trading Up 3.3%

Shares of RBLX stock opened at $94.10 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. Roblox Co. has a 12-month low of $34.41 and a 12-month high of $94.61. The stock has a market capitalization of $63.82 billion, a P/E ratio of -64.89 and a beta of 1.56. The firm's 50 day moving average is $70.28 and its 200 day moving average is $63.95.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned ($0.43) earnings per share. The company's quarterly revenue was up 30.6% on a year-over-year basis. Research analysts expect that Roblox Co. will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RBLX. Macquarie upped their price objective on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. JPMorgan Chase & Co. increased their price target on shares of Roblox from $80.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday. Moffett Nathanson cut shares of Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price target on the stock. in a report on Friday, February 7th. The Goldman Sachs Group increased their price target on shares of Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Finally, Citigroup reiterated a "buy" rating and set a $100.00 price target (up previously from $85.00) on shares of Roblox in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.91.

Insiders Place Their Bets

In other Roblox news, insider Manuel Bronstein sold 26,798 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $90.20, for a total value of $2,417,179.60. Following the transaction, the insider now directly owns 468,486 shares in the company, valued at approximately $42,257,437.20. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 6,391 shares of Roblox stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $80.66, for a total transaction of $515,498.06. Following the transaction, the chief accounting officer now owns 73,931 shares in the company, valued at approximately $5,963,274.46. This trade represents a 7.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,354,101 shares of company stock worth $256,430,887. Company insiders own 12.92% of the company's stock.

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.

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