Nuveen LLC Buys Shares of 1,205,251 Roblox Corporation $RBLX

Key Points

• Nuveen LLC invested approximately $70.25 million in Roblox Corporation by acquiring over 1.2 million shares, marking a new position in the company.
• Several large investors, including Vanguard Group, have increased their stakes in Roblox, with Whale Rock Capital Management boosting its holdings by 95.8%.
• Roblox received multiple target price upgrades from analysts, with Wells Fargo raising its target from $116 to $153, reflecting strong market expectations for growth.

Nuveen LLC purchased a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,205,251 shares of the company's stock, valued at approximately $70,254,000. Nuveen LLC owned approximately 0.19% of Roblox at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Roblox by 15.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock worth $2,096,000 after purchasing an additional 4,760 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Roblox during the first quarter valued at approximately $890,000. IFM Investors Pty Ltd increased its stake in Roblox by 7.2% during the 1st quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock worth $5,370,000 after buying an additional 6,180 shares during the period. Deutsche Bank AG increased its position in shares of Roblox by 5.7% during the first quarter. Deutsche Bank AG now owns 1,843,721 shares of the company's stock worth $107,470,000 after acquiring an additional 99,207 shares during the last quarter. Finally, Montag A & Associates Inc. raised its position in shares of Roblox by 1,193.7% in the 1st quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock valued at $1,570,000 after purchasing an additional 24,852 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RBLX has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Macquarie increased 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. Cowen reaffirmed a "sell" rating on shares of Roblox in a report on Monday. JPMorgan Chase & Co. increased their price target on Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Roblox from $116.00 to $153.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Three 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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 that occurred on Monday, June 2nd. The stock was sold at an average price of $87.97, for a total value of $60,479,375.00. Following the completion of the sale, the chief executive officer owned 211,559 shares in the company, valued at approximately $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 can be accessed through the SEC website. Over the last quarter, insiders sold 5,127,213 shares of company stock valued at $493,410,989. Insiders own 12.92% of the company's stock.

Roblox Stock Up 0.2%

Shares of NYSE RBLX traded up $0.21 during mid-day trading on Monday, reaching $117.55. The company had a trading volume of 7,117,964 shares, compared to its average volume of 8,784,075. The stock has a market capitalization of $75.82 billion, a PE ratio of -82.34 and a beta of 1.63. The stock's 50 day moving average is $112.96 and its 200-day moving average is $83.00. Roblox Corporation has a twelve month low of $37.50 and a twelve month high of $150.59. 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 (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. Roblox's quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. As a group, equities analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal 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.