Roblox Corporation (NYSE:RBLX) Shares Purchased by Westpac Banking Corp

Key Points

• Westpac Banking Corp increased its stake in Roblox Corporation by 112.7% during the first quarter, owning 36,745 shares worth approximately $2.14 million after acquiring an additional 19,468 shares.
• Roblox reported a net loss of ($0.41) per share for the last quarter, missing analysts’ expectations, despite a 50.5% year-over-year revenue increase to $1.44 billion.
• Analysts have provided positive outlooks for Roblox, with several firms raising their price targets significantly, giving it a consensus rating of "Moderate Buy" and a price target of $117.59.

Westpac Banking Corp increased its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 112.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,745 shares of the company's stock after buying an additional 19,468 shares during the quarter. Westpac Banking Corp's holdings in Roblox were worth $2,142,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RBLX. Vanguard Group Inc. increased its stake in Roblox by 8.3% during the first quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock worth $3,359,854,000 after acquiring an additional 4,400,624 shares during the last quarter. Durable Capital Partners LP acquired a new stake in Roblox during the fourth quarter worth $246,560,000. Ninety One UK Ltd acquired a new stake in Roblox during the first quarter worth $137,379,000. Whale Rock Capital Management LLC increased its stake in Roblox by 95.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after acquiring an additional 2,326,588 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Roblox by 210.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,256,815 shares of the company's stock worth $189,840,000 after acquiring an additional 2,207,897 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Insider Transactions at Roblox

In other news, Director Anthony P. Lee sold 66,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director directly owned 279,868 shares of the company's stock, valued at approximately $36,206,523.16. The trade was a 19.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $133.67, for a total value of $802,020.00. Following the completion of the sale, the insider directly owned 301,223 shares of the company's stock, valued at $40,264,478.41. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,127,213 shares of company stock valued at $493,410,989 over the last quarter. Company insiders own 12.92% of the company's stock.

Roblox Stock Down 1.3%

NYSE RBLX traded down $1.64 during trading on Thursday, reaching $125.14. 6,493,902 shares of the company's stock were exchanged, compared to its average volume of 9,423,289. The stock has a market cap of $80.72 billion, a P/E ratio of -87.51 and a beta of 1.63. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $112.53 and a two-hundred day moving average price of $82.49. Roblox Corporation has a 1 year low of $37.50 and a 1 year high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly 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). The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The firm's quarterly revenue was up 50.5% on a year-over-year basis. During the same period last year, the firm earned ($0.32) earnings per share. On average, equities research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RBLX shares. Wall Street Zen cut Roblox from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Citigroup lifted their price objective on Roblox from $123.00 to $152.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. BTIG Research set a $131.00 price objective on Roblox and gave the company a "buy" rating in a research note on Monday, July 28th. Canaccord Genuity Group lifted their price objective on Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Roth Mkm lifted their price objective on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.59.

Roblox Company 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.