Roblox Corporation (NYSE:RBLX) Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP reduced its stake in Roblox Corporation by 47.0% during the first quarter, resulting in holdings of 24,247 shares worth approximately $1.4 million.
• Several analysts have raised their price targets for Roblox, with Benchmark increasing it to $150.00, indicating a strong market outlook.
• Insider transactions revealed that Director Andrea L. Wong and CEO David Baszucki sold shares worth $752,408 and $110,880, respectively, in early August.

Entropy Technologies LP decreased its position in Roblox Corporation (NYSE:RBLX - Free Report) by 47.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,247 shares of the company's stock after selling 21,476 shares during the quarter. Entropy Technologies LP's holdings in Roblox were worth $1,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd boosted its position in shares of 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 purchasing an additional 240 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after buying an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Roblox during the first quarter worth $39,000. Colonial Trust Co SC purchased a new stake in Roblox during the 4th quarter worth approximately $41,000. Finally, Headlands Technologies LLC purchased a new stake in Roblox during the 1st quarter worth approximately $57,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Roblox Stock Performance

NYSE RBLX traded down $1.64 during trading hours on Thursday, hitting $125.14. 6,493,902 shares of the stock were exchanged, compared to its average volume of 8,731,896. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94. The company has a market cap of $80.72 billion, a price-to-earnings ratio of -87.51 and a beta of 1.63. Roblox Corporation has a 12-month low of $37.50 and a 12-month high of $150.59. The stock has a 50-day moving average of $111.91 and a 200 day moving average of $82.09.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the company posted ($0.32) earnings per share. The business's quarterly revenue was up 50.5% on a year-over-year basis. As a group, equities research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $133.67, for a total transaction of $802,020.00. Following the completion of the transaction, the insider owned 301,223 shares in the company, valued at approximately $40,264,478.41. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $129.37, for a total value of $8,538,420.00. Following the transaction, the director directly owned 279,868 shares in the company, valued at approximately $36,206,523.16. This represents a 19.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,127,213 shares of company stock worth $493,410,989 in the last ninety days. 12.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Wall Street Zen lowered Roblox from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. BMO Capital Markets lifted their price objective on Roblox from $135.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, The Goldman Sachs Group raised their price target on Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Roblox presently has a consensus rating of "Moderate Buy" and an average price target of $117.59.

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.