Pekin Hardy Strauss Inc. Acquires Shares of 3,456 Roblox Corporation (NYSE:RBLX)

Pekin Hardy Strauss Inc. purchased a new stake in Roblox Corporation (NYSE:RBLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,456 shares of the company's stock, valued at approximately $201,000.

Several other hedge funds have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd increased its stake in Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after buying an additional 240 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Roblox in the 1st quarter valued at approximately $39,000. Colonial Trust Co SC acquired a new position in Roblox in the 4th quarter valued at approximately $41,000. Rakuten Securities Inc. increased its stake in Roblox by 25.6% in the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after buying an additional 195 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Roblox by 188.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock valued at $56,000 after buying an additional 633 shares during the period. Hedge funds and other institutional investors own 94.46% of the company's stock.

Roblox Price Performance

Shares of NYSE:RBLX traded up $1.56 during midday trading on Wednesday, reaching $106.50. 5,097,415 shares of the company's stock were exchanged, compared to its average volume of 8,038,079. The company's 50 day simple moving average is $89.67 and its two-hundred day simple moving average is $71.40. The firm has a market capitalization of $72.24 billion, a PE ratio of -79.48 and a beta of 1.60. Roblox Corporation has a 12 month low of $35.30 and a 12 month high of $108.00. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm's revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) EPS. Equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on RBLX shares. Wells Fargo & Company increased their price target on shares of Roblox from $78.00 to $116.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Bank of America increased their price target on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Oppenheimer restated an "outperform" rating and set a $125.00 price target (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Barclays increased their price target on shares of Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $105.00 price target (up previously from $85.00) on shares of Roblox in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.52.

Insider Buying and Selling

In related news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the completion of the sale, the director owned 284,488 shares in the company, valued at $29,555,458.32. This trade represents a 18.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 139,507 shares of the stock in a transaction dated 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 sale, the chief executive officer 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 disclosure for this sale can be found here. Insiders sold 6,645,690 shares of company stock worth $592,729,502 in the last quarter. 12.92% of the stock is owned by corporate insiders.

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.