Neo Ivy Capital Management Has $2.11 Million Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Neo Ivy Capital Management reduced its stake in Roblox Corporation (NYSE:RBLX) by 37.3%, holding 36,120 shares valued at $2,105,000 after selling 21,504 shares in Q1.
• Analyst ratings are predominantly positive, with 19 out of 24 analysts giving Roblox a "buy" rating and an average target price of $95.95.
• CEO David Baszucki sold 139,507 shares of Roblox stock for approximately $14.67 million, representing a significant reduction of 39.74% in his position.

Neo Ivy Capital Management lowered its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 37.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,120 shares of the company's stock after selling 21,504 shares during the quarter. Neo Ivy Capital Management's holdings in Roblox were worth $2,105,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after purchasing an additional 240 shares during 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 worth $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Roblox in the 1st quarter worth about $39,000. Colonial Trust Co SC acquired a new position in Roblox in the 4th quarter worth about $41,000. Finally, TD Private Client Wealth LLC acquired a new position in shares of Roblox during the 1st quarter valued at about $58,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 1,375,002 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the sale, the chief executive officer directly owned 221,983 shares in the company, valued at $16,024,952.77. The trade was a 86.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 6,651,690 shares of company stock worth $593,440,562 in the last 90 days. Insiders own 12.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RBLX shares. Morgan Stanley lowered their price objective on Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. FBN Securities began coverage on Roblox in a report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 target price on the stock. Wells Fargo & Company raised their price objective on Roblox from $78.00 to $116.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Needham & Company LLC reiterated a "buy" rating on shares of Roblox in a research report on Friday, May 2nd. Finally, BMO Capital Markets raised their target price on Roblox from $95.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.95.

Roblox Trading Up 0.6%

Shares of NYSE RBLX traded up $0.67 during midday trading on Friday, hitting $118.79. The stock had a trading volume of 5,550,984 shares, compared to its average volume of 8,101,534. The company's 50-day simple moving average is $100.68 and its 200 day simple moving average is $76.37. The firm has a market cap of $80.57 billion, a P/E ratio of -88.65 and a beta of 1.60. Roblox Corporation has a fifty-two week low of $35.30 and a fifty-two week high of $127.99. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the firm earned ($0.43) earnings per share. The firm's quarterly revenue was up 30.6% compared to the same quarter last year. Research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current 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.