New York State Common Retirement Fund Boosts Stock Holdings in Roblox Corporation (NYSE:RBLX)

New York State Common Retirement Fund increased its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 283,345 shares of the company's stock after purchasing an additional 10,578 shares during the period. New York State Common Retirement Fund's holdings in Roblox were worth $16,516,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RBLX. FMR LLC lifted its position in shares of Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after purchasing an additional 18,715,837 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Roblox by 1,084.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock worth $278,500,000 after acquiring an additional 4,406,885 shares during the last quarter. Durable Capital Partners LP bought a new stake in Roblox during the 4th quarter worth approximately $246,560,000. Norges Bank bought a new position in Roblox in the 4th quarter valued at $167,211,000. Finally, Ninety One UK Ltd bought a new position in Roblox in the 1st quarter valued at $137,379,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on RBLX. Oppenheimer reaffirmed an "outperform" rating and set a $125.00 price objective (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Wedbush raised Roblox to a "strong-buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company lifted their price target on Roblox from $78.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Bank of America raised their price objective on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $95.00 price target (up previously from $82.00) on shares of Roblox in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.68.

Roblox Stock Up 2.7%

NYSE:RBLX traded up $3.27 during trading hours on Thursday, reaching $122.29. The company's stock had a trading volume of 9,833,861 shares, compared to its average volume of 8,124,881. Roblox Corporation has a 1 year low of $35.30 and a 1 year high of $123.33. 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 firm has a 50-day simple moving average of $94.41 and a 200-day simple moving average of $73.41.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The company's revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) EPS. As a group, analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $102.58, for a total transaction of $615,480.00. Following the completion of the transaction, the insider directly owned 313,223 shares of the company's stock, valued at $32,130,415.34. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony P. Lee sold 66,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the sale, the director owned 284,488 shares of the company's stock, valued at $29,555,458.32. This trade represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,645,690 shares of company stock valued at $592,729,502 over the last quarter. Corporate insiders own 12.92% of the company's stock.

About Roblox

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.