OVERSEA CHINESE BANKING Corp Ltd Takes Position in Roblox Corporation (NYSE:RBLX)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,611 shares of the company's stock, valued at approximately $1,726,000.

A number of other hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. increased its holdings in shares of Roblox by 1.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock valued at $775,000 after acquiring an additional 163 shares during the last quarter. Signaturefd LLC grew its holdings in Roblox by 3.8% in the 1st quarter. Signaturefd LLC now owns 6,153 shares of the company's stock valued at $359,000 after buying an additional 225 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Roblox in the 1st quarter valued at approximately $8,058,000. Bleakley Financial Group LLC grew its holdings in Roblox by 17.3% in the 1st quarter. Bleakley Financial Group LLC now owns 13,092 shares of the company's stock valued at $763,000 after buying an additional 1,928 shares during the last quarter. Finally, Left Brain Wealth Management LLC acquired a new stake in Roblox in the 1st quarter valued at approximately $358,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Roth Mkm raised their target price on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Macquarie raised their target price on Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $125.00 target price (up previously from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Needham & Company LLC reaffirmed a "buy" rating on shares of Roblox in a report on Friday, May 2nd. Finally, FBN Securities assumed 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.68.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 139,507 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the completion of the sale, the chief executive officer directly owned 211,559 shares of the company's stock, valued at $22,253,891.21. This trade represents a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $102.58, for a total value of $615,480.00. Following the sale, the insider directly owned 313,223 shares of the company's stock, valued at $32,130,415.34. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,645,690 shares of company stock valued at $592,729,502 in the last three months. Corporate insiders own 12.92% of the company's stock.

Roblox Price Performance

RBLX stock traded up $6.59 during midday trading on Wednesday, reaching $119.07. 15,275,536 shares of the company's stock traded hands, compared to its average volume of 8,105,980. The company has a 50-day simple moving average of $94.41 and a two-hundred day simple moving average of $73.41. Roblox Corporation has a 1-year low of $35.30 and a 1-year high of $120.13. The company has a market cap of $80.76 billion, a price-to-earnings ratio of -88.86 and a beta of 1.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating 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 firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the firm posted ($0.43) EPS. The business's revenue was up 30.6% on a year-over-year basis. On average, analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current year.

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.