Nuveen LLC Makes New $70.25 Million Investment in Roblox Corporation (NYSE: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 acquired a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,205,251 shares of the company's stock, valued at approximately $70,254,000. Nuveen LLC owned about 0.19% of Roblox as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Roblox by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock worth $3,359,854,000 after buying an additional 4,400,624 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Roblox by 23.7% in the 4th quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock valued at $419,867,000 after purchasing an additional 1,391,800 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Roblox by 95.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock valued at $275,137,000 after purchasing an additional 2,326,588 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Roblox by 25.7% in the 4th quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock valued at $261,219,000 after purchasing an additional 921,822 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Roblox by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,363,982 shares of the company's stock valued at $252,501,000 after purchasing an additional 871,027 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RBLX. Oppenheimer reiterated an "outperform" rating and issued a $125.00 price target (up previously from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Wells Fargo & Company increased their price target on shares of Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC increased their price target on shares of Roblox from $79.00 to $159.00 and gave the company a "buy" rating in a report on Friday, August 1st. Benchmark increased their price target on shares of Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Piper Sandler increased their price target on shares of Roblox from $105.00 to $138.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Two equities research 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's stock. Based on data from MarketBeat.com, Roblox has a consensus rating of "Moderate Buy" and a consensus target price of $117.59.

Roblox Price Performance

Roblox stock opened at $126.79 on Thursday. The firm's 50-day moving average is $111.91 and its two-hundred day moving average is $82.09. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. Roblox Corporation has a 12-month low of $37.50 and a 12-month high of $150.59. The stock has a market capitalization of $81.78 billion, a P/E ratio of -88.66 and a beta of 1.63.

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 analysts' consensus estimates of ($0.37) by ($0.04). Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. Roblox's revenue for the quarter was up 50.5% compared to the same quarter last year. Equities analysts predict that Roblox Corporation will post -1.49 earnings per share for the current year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 875 shares of the business's stock in a transaction that occurred on 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 directly owned 211,559 shares in the company, valued at approximately $26,808,756.48. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $133.67, for a total transaction 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. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,127,213 shares of company stock valued at $493,410,989 in the last ninety days. 12.92% of the stock is owned by company insiders.

Roblox Company 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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