Roblox Corporation (NYSE:RBLX) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lowered its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,932 shares of the company's stock after selling 2,806 shares during the period. Penserra Capital Management LLC's holdings in Roblox were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RBLX. FMR LLC increased its holdings in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after acquiring an additional 18,715,837 shares in the last quarter. Wealthfront Advisers LLC raised its position in shares of Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock worth $1,063,365,000 after purchasing an additional 17,312,325 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Roblox by 1,084.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock worth $278,500,000 after purchasing an additional 4,406,885 shares during the last quarter. Durable Capital Partners LP purchased a new stake in Roblox in the 4th quarter valued at approximately $246,560,000. Finally, Norges Bank acquired a new stake in Roblox during the 4th quarter valued at $167,211,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBLX has been the topic of several recent research reports. BTIG Research upped their price objective on Roblox from $73.00 to $124.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Morgan Stanley cut their price objective on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. lifted their target price on shares of Roblox from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Wedbush upgraded Roblox to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Wells Fargo & Company upped their target price on Roblox from $78.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.52.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 1,375,002 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the sale, the chief executive officer directly owned 221,983 shares of the company's stock, valued at approximately $16,024,952.77. This represents a 86.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 6,645,690 shares of company stock worth $592,729,502. Insiders own 12.92% of the company's stock.

Roblox Stock Performance

Shares of Roblox stock traded up $1.56 during trading hours on Wednesday, reaching $106.50. The company's stock had a trading volume of 5,097,415 shares, compared to its average volume of 8,038,079. 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 Corporation has a one year low of $35.30 and a one year high of $108.00. The company's 50 day simple moving average is $89.67 and its 200 day simple moving average is $71.40. The stock has a market cap of $72.24 billion, a P/E ratio of -79.48 and a beta of 1.60.

Roblox (NYSE:RBLX - Get Free Report) last posted its 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 company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The firm's quarterly revenue was up 30.6% compared to the same quarter last year. During the same period last year, the business posted ($0.43) earnings per share. As a group, analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Roblox 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.