29,611 Shares in Roblox Corporation (NYSE:RBLX) Bought by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• Oversea Chinese Banking Corp Ltd has invested approximately $1.73 million in Roblox Corporation, acquiring 29,611 shares in the first quarter.
• CEO David Baszucki sold 1,375,002 shares for over $99 million, significantly reducing his stake in the company by 86.1%.
• Roblox reported a revenue increase of 50.5% year-over-year despite reporting an EPS loss of ($0.41), failing to meet estimates.

OVERSEA CHINESE BANKING Corp Ltd bought a new position in Roblox Corporation (NYSE:RBLX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 29,611 shares of the company's stock, valued at approximately $1,726,000.

Several other large investors also recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd boosted its holdings in shares of Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after purchasing an additional 240 shares during the period. Larson Financial Group LLC boosted its holdings in shares of 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 period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Roblox in the 1st quarter worth approximately $39,000. Colonial Trust Co SC bought a new position in shares of Roblox during the fourth quarter valued at approximately $41,000. Finally, TD Private Client Wealth LLC bought a new position in shares of Roblox during the first quarter valued at approximately $58,000. 94.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on RBLX. Wedbush upped their target price on Roblox from $142.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday. Morgan Stanley upped their target price on Roblox from $76.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday. Canaccord Genuity Group upped their target price on Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. BMO Capital Markets upped their target price on Roblox from $135.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Benchmark upped their target price on Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $117.59.

Roblox Stock Down 1.9%

Roblox stock traded down $2.50 during mid-day trading on Tuesday, reaching $128.20. 1,581,607 shares of the company were exchanged, compared to its average volume of 8,781,750. The business has a fifty day moving average of $106.02 and a 200 day moving average of $79.21. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $82.69 billion, a P/E ratio of -89.59 and a beta of 1.63. Roblox Corporation has a 12-month low of $36.07 and a 12-month high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the company posted ($0.32) EPS. The business's revenue for the quarter was up 50.5% on a year-over-year basis. Research analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total transaction of $711,060.00. Following the completion of the sale, the insider owned 307,223 shares in the company, valued at approximately $36,408,997.73. This represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Baszucki sold 139,507 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the sale, the chief executive officer owned 211,559 shares of the company's stock, valued at approximately $22,253,891.21. This represents a 39.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,251,703 shares of company stock worth $492,380,210. Insiders own 12.92% of the company's stock.

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.