Pallas Capital Advisors LLC Increases Holdings in Roblox Co. (NYSE:RBLX)

Pallas Capital Advisors LLC grew its stake in Roblox Co. (NYSE:RBLX - Free Report) by 196.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,063 shares of the company's stock after buying an additional 41,152 shares during the period. Pallas Capital Advisors LLC's holdings in Roblox were worth $3,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RBLX. MetLife Investment Management LLC lifted its holdings in shares of Roblox by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock worth $1,873,000 after acquiring an additional 161 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Roblox by 25.6% in the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock worth $55,000 after acquiring an additional 195 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after acquiring an additional 230 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its position in Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Roblox by 3.8% during the 4th quarter. Yousif Capital Management LLC now owns 6,672 shares of the company's stock worth $386,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 94.46% of the company's stock.

Roblox Stock Up 2.3%

Shares of NYSE:RBLX traded up $2.23 on Friday, hitting $97.34. 9,208,006 shares of the company traded hands, compared to its average volume of 7,922,067. The company has a market cap of $66.02 billion, a PE ratio of -67.13 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox Co. has a 52 week low of $34.41 and a 52 week high of $98.15. The stock has a 50 day simple moving average of $74.03 and a 200-day simple moving average of $65.48.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the firm posted ($0.43) EPS. The firm's quarterly revenue was up 30.6% on a year-over-year basis. As a group, research analysts expect that Roblox Co. will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on RBLX. Roth Mkm upped their price target on shares of Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating on shares of Roblox in a report on Friday, May 2nd. Macquarie upped their price objective on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 price objective (up from $85.00) on shares of Roblox in a research note on Thursday, June 5th. Finally, Barclays upped their price objective on shares of Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $76.09.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 229,167 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $52.48, for a total value of $12,026,684.16. Following the completion of the transaction, the chief executive officer now directly owns 221,983 shares in the company, valued at $11,649,667.84. This represents a 50.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony P. Lee sold 21,200 shares of Roblox stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $61.37, for a total transaction of $1,301,044.00. Following the completion of the sale, the director now owns 6,589,757 shares in the company, valued at approximately $404,413,387.09. This represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,287,171 shares of company stock valued at $438,237,134. Insiders own 12.92% of the company's stock.

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.