Pekin Hardy Strauss Inc. Purchases New Shares in Roblox Corporation (NYSE:RBLX)

Pekin Hardy Strauss Inc. purchased a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,456 shares of the company's stock, valued at approximately $201,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Roblox by 15.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock valued at $2,096,000 after purchasing an additional 4,760 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Roblox in the 1st quarter valued at about $890,000. Azzad Asset Management Inc. ADV purchased a new stake in Roblox in the 1st quarter valued at about $280,000. NewSquare Capital LLC boosted its position in Roblox by 2.7% in the 1st quarter. NewSquare Capital LLC now owns 115,121 shares of the company's stock valued at $6,710,000 after buying an additional 3,065 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Roblox by 101.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock valued at $40,762,000 after buying an additional 355,270 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RBLX shares. Roth Mkm lifted their target price on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Canaccord Genuity Group lifted their target price on Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their target price on Roblox from $78.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. FBN Securities initiated coverage on shares of Roblox in a research report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price target for the company. Finally, BTIG Research upped their price target on shares of Roblox from $73.00 to $124.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.52.

Roblox Stock Performance

Roblox stock traded up $0.59 during mid-day trading on Friday, reaching $105.62. 4,539,579 shares of the company traded hands, compared to its average volume of 8,042,885. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. Roblox Corporation has a fifty-two week low of $35.30 and a fifty-two week high of $108.02. The company has a market capitalization of $71.64 billion, a price-to-earnings ratio of -78.82 and a beta of 1.60. The firm's fifty day moving average is $91.18 and its two-hundred day moving average is $71.96.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. Roblox's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.43) EPS. On average, equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the sale, the chief executive officer owned 211,559 shares in the company, valued at approximately $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $615,480.00. Following the sale, the insider owned 313,223 shares in the company, valued at approximately $32,130,415.34. This represents a 1.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,645,690 shares of company stock worth $592,729,502 over the last 90 days. 12.92% of the stock is currently 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.