Exchange Traded Concepts LLC Sells 53,925 Shares of Roblox Co. (NYSE:RBLX)

Exchange Traded Concepts LLC lessened its holdings in Roblox Co. (NYSE:RBLX - Free Report) by 11.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 407,171 shares of the company's stock after selling 53,925 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of Roblox worth $23,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd raised its holdings in Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after buying an additional 240 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Roblox in the 1st quarter valued at approximately $39,000. Colonial Trust Co SC purchased a new stake in Roblox during the 4th quarter valued at $41,000. Parkside Financial Bank & Trust increased its holdings in shares of Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after purchasing an additional 230 shares in the last quarter. Finally, Rakuten Securities Inc. raised 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 during the last quarter. Institutional investors own 94.46% of the company's stock.

Roblox Price Performance

NYSE:RBLX traded up $2.23 on Friday, reaching $97.34. 9,208,006 shares of the company's stock traded hands, compared to its average volume of 7,930,940. The stock has a 50-day simple moving average of $74.96 and a 200-day simple moving average of $65.93. Roblox Co. has a 12 month low of $34.41 and a 12 month high of $98.15. The firm has a market cap of $66.02 billion, a PE ratio of -67.13 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter last year, the business posted ($0.43) earnings per share. The firm's revenue was up 30.6% on a year-over-year basis. Equities research analysts forecast that Roblox Co. will post -1.49 earnings per share for the current year.

Insider Transactions at Roblox

In other news, Director Anthony P. Lee sold 21,200 shares of Roblox stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $61.37, for a total value of $1,301,044.00. Following the sale, the director now directly owns 6,589,757 shares of the company's stock, valued at approximately $404,413,387.09. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 627,453 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $96.04, for a total value of $60,260,586.12. Following the transaction, the chief executive officer now directly owns 211,559 shares of the company's stock, valued at approximately $20,318,126.36. The trade was a 74.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,287,171 shares of company stock valued at $438,237,134. 12.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RBLX has been the subject of several research analyst reports. FBN Securities started coverage on Roblox in a report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price objective for the company. Citigroup reaffirmed a "buy" rating and set a $100.00 price target (up previously from $85.00) on shares of Roblox in a report on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of Roblox from $80.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Oppenheimer upped their price objective on Roblox from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group raised their target price on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Roblox has a consensus rating of "Moderate Buy" and an average target price of $76.09.

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.