MIG Capital LLC Increases Position in Roblox Corporation $RBLX

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

MIG Capital LLC lifted its position in Roblox Corporation (NYSE:RBLX - Free Report) by 133.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,316 shares of the company's stock after purchasing an additional 7,602 shares during the period. MIG Capital LLC's holdings in Roblox were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RBLX. Vanguard Group Inc. increased its stake in shares of 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. Durable Capital Partners LP purchased a new stake in shares of Roblox in the fourth quarter worth $246,560,000. Ninety One UK Ltd purchased a new stake in shares of Roblox in the first quarter worth $137,379,000. Whale Rock Capital Management LLC increased its stake in shares of Roblox by 95.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after purchasing an additional 2,326,588 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Roblox by 210.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,256,815 shares of the company's stock worth $189,840,000 after acquiring an additional 2,207,897 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RBLX. Canaccord Genuity Group upped their target price on shares of Roblox from $125.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Raymond James Financial lowered shares of Roblox from a "strong-buy" rating to an "outperform" rating and upped their target price for the stock from $81.00 to $130.00 in a research report on Wednesday, July 23rd. BTIG Research set a $131.00 target price on shares of Roblox and gave the stock a "buy" rating in a research report on Monday, July 28th. Needham & Company LLC upped their target price on shares of Roblox from $79.00 to $159.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets upped their target price on shares of Roblox from $135.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Roblox has a consensus rating of "Moderate Buy" and an average price target of $117.59.

Insider Activity

In other news, CEO David Baszucki sold 875 shares of the firm's 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 approximately $26,808,756.48. This trade represents a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of 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. Insiders have sold a total of 4,994,441 shares of company stock worth $482,701,599 over the last 90 days. Insiders own 12.92% of the company's stock.

Roblox Price Performance

Roblox stock opened at $120.01 on Tuesday. The firm has a 50-day moving average price of $113.50 and a 200-day moving average price of $83.34. The firm has a market capitalization of $77.41 billion, a PE ratio of -83.92 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 released its 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 during 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%. Roblox's revenue was up 50.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.32) EPS. As a group, equities research analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

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.

Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Corporation (NYSE:RBLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.