Praxis Investment Management Inc. Acquires 3,300 Shares of Roblox Corporation (NYSE:RBLX)

Praxis Investment Management Inc. raised its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 20.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,330 shares of the company's stock after buying an additional 3,300 shares during the period. Praxis Investment Management Inc.'s holdings in Roblox were worth $1,127,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd increased its holdings in 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 acquiring an additional 240 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Roblox during the first quarter valued at approximately $39,000. Colonial Trust Co SC bought a new position in shares of Roblox in the fourth quarter worth approximately $41,000. Parkside Financial Bank & Trust boosted its position in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after purchasing an additional 230 shares during the period. Finally, Rakuten Securities Inc. increased its stake in shares of Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock worth $55,000 after purchasing an additional 195 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RBLX shares. Oppenheimer restated an "outperform" rating and set a $125.00 target price (up previously from $80.00) on shares of Roblox in a research note on Wednesday. Morgan Stanley decreased their price target on Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Roth Mkm upped their price objective on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and set a $105.00 target price (up previously from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Finally, Wells Fargo & Company lifted their target price on Roblox from $70.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roblox has a consensus rating of "Moderate Buy" and a consensus target price of $78.04.

Roblox Stock Down 0.5%

Shares of NYSE RBLX opened at $102.14 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. Roblox Corporation has a 12-month low of $34.62 and a 12-month high of $103.57. The firm's 50-day moving average price is $79.58 and its 200-day moving average price is $67.66. The stock has a market capitalization of $69.28 billion, a price-to-earnings ratio of -76.22 and a beta of 1.56.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company's quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) earnings per share. On average, equities research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 6,391 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total transaction of $515,498.06. Following the completion of the transaction, the chief accounting officer now owns 73,931 shares in the company, valued at $5,963,274.46. The trade was a 7.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Guthrie sold 50,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $58.79, for a total value of $2,939,500.00. Following the completion of the sale, the chief financial officer now owns 516,434 shares in the company, valued at approximately $30,361,154.86. The trade was a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,417,995 shares of company stock worth $553,295,933. Company insiders own 12.92% of the company's stock.

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.

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