QRG Capital Management Inc. Grows Holdings in Roblox Corporation (NYSE:RBLX)

QRG Capital Management Inc. grew its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 130.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,942 shares of the company's stock after purchasing an additional 23,721 shares during the period. QRG Capital Management Inc.'s holdings in Roblox were worth $2,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC raised its position in shares of Roblox by 24.5% during the fourth quarter. Empowered Funds LLC now owns 9,825 shares of the company's stock worth $568,000 after purchasing an additional 1,936 shares during the period. Principal Financial Group Inc. raised its holdings in Roblox by 53.9% during the fourth quarter. Principal Financial Group Inc. now owns 279,849 shares of the company's stock worth $16,192,000 after buying an additional 98,041 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Roblox by 20.6% during the fourth quarter. Sanctuary Advisors LLC now owns 36,813 shares of the company's stock worth $2,130,000 after buying an additional 6,290 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Roblox by 14.4% in the fourth quarter. CIBC Asset Management Inc now owns 23,244 shares of the company's stock valued at $1,345,000 after buying an additional 2,923 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Roblox by 3.8% during the fourth quarter. D.A. Davidson & CO. now owns 24,602 shares of the company's stock valued at $1,423,000 after buying an additional 891 shares during the last quarter. Institutional investors own 94.46% of the company's stock.

Roblox Stock Performance

Shares of NYSE:RBLX traded up $1.49 during trading on Thursday, hitting $102.61. 8,859,718 shares of the company were exchanged, compared to its average volume of 7,954,399. Roblox Corporation has a 52-week low of $34.62 and a 52-week high of $103.03. The stock has a 50 day moving average of $77.75 and a 200 day moving average of $66.88. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $69.60 billion, a PE ratio of -76.58 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, topping analysts' consensus estimates of ($0.41) by $0.09. The business 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.43) EPS. As a group, equities research analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RBLX shares. Benchmark upped their target price on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Barclays increased their price objective on Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Citigroup restated an "overweight" rating on shares of Roblox in a report on Monday. Wells Fargo & Company upped their price target on Roblox from $70.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Oppenheimer restated an "outperform" rating and set a $125.00 price objective (up from $80.00) on shares of Roblox in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.04.

Insider Transactions at Roblox

In related news, CFO Michael Guthrie sold 50,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $58.79, for a total transaction of $2,939,500.00. Following the completion of the transaction, the chief financial officer now directly owns 516,434 shares in the company, valued at $30,361,154.86. The trade was a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 6,391 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total value 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. This represents a 7.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,789,321 shares of company stock valued at $490,045,042. 12.92% of the stock is currently owned by corporate insiders.

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.