Neuberger Berman Group LLC Has $72.65 Million Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Neuberger Berman Group LLC increased its holdings in Roblox Corporation by 51.7%, owning approximately $72.65 million worth of shares as of the latest SEC filing.
• Insider Matthew D. Kaufman sold 6,000 shares of Roblox stock for about $802,020, resulting in a 1.95% decrease in his holdings.
• Roblox's stock recently hit a market capitalization of $81.78 billion and reported earnings of ($0.41) per share, missing expectations but showing a 50.5% increase in revenue year-over-year.

Neuberger Berman Group LLC lifted its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 51.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,246,265 shares of the company's stock after acquiring an additional 424,545 shares during the period. Neuberger Berman Group LLC owned approximately 0.20% of Roblox worth $72,645,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Roblox by 15.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock valued at $2,096,000 after acquiring an additional 4,760 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Roblox during the first quarter worth about $890,000. IFM Investors Pty Ltd lifted its position in Roblox by 7.2% during the first quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock worth $5,370,000 after purchasing an additional 6,180 shares during the period. Montag A & Associates Inc. lifted its position in Roblox by 1,193.7% during the first quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock worth $1,570,000 after purchasing an additional 24,852 shares during the period. Finally, Azzad Asset Management Inc. ADV bought a new stake in Roblox during the first quarter worth about $280,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roblox

In related news, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $133.67, for a total value of $802,020.00. Following the completion of the sale, the insider owned 301,223 shares of the company's stock, valued at approximately $40,264,478.41. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrea L. Wong sold 5,770 shares of Roblox stock in a transaction on Monday, August 4th. The shares were sold at an average price of $130.40, for a total transaction of $752,408.00. Following the completion of the sale, the director directly owned 41,891 shares of the company's stock, valued at approximately $5,462,586.40. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,127,213 shares of company stock worth $493,410,989. Corporate insiders own 12.92% of the company's stock.

Roblox Stock Performance

NYSE:RBLX opened at $126.79 on Thursday. The company has a market capitalization of $81.78 billion, a PE ratio of -88.66 and a beta of 1.63. The company has a 50 day simple moving average of $111.91 and a two-hundred day simple moving average of $82.09. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. Roblox Corporation has a fifty-two week low of $37.50 and a fifty-two week 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 for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The business's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.32) EPS. Research analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RBLX has been the subject of a number of research reports. Piper Sandler increased their target price on shares of Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup increased their target price on shares of Roblox from $123.00 to $152.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley increased their target price on shares of Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their target price on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Canaccord Genuity Group increased their target price on shares of Roblox from $125.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Roblox has a consensus rating of "Moderate Buy" and a consensus price target of $117.59.

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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