Roblox Corporation (NYSE:RBLX) Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. raised its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,152 shares of the company's stock after acquiring an additional 10,338 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Roblox were worth $8,535,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC grew its position in shares of Roblox by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after purchasing an additional 161 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Roblox by 1.2% in the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock valued at $775,000 after purchasing an additional 163 shares in the last quarter. Commerce Bank grew its position in shares of Roblox by 2.7% in the first quarter. Commerce Bank now owns 7,257 shares of the company's stock valued at $423,000 after purchasing an additional 191 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Roblox by 0.3% in the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock valued at $4,518,000 after purchasing an additional 198 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Roblox by 3.8% in the first quarter. Signaturefd LLC now owns 6,153 shares of the company's stock valued at $359,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RBLX shares. Morgan Stanley upped their price target on Roblox from $76.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Roth Mkm increased their price objective on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Benchmark increased their price objective on Roblox from $77.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their price objective on Roblox from $116.00 to $153.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat.com, Roblox has an average rating of "Moderate Buy" and an average price target of $117.59.

Insiders Place Their Bets

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $133.67, for a total value of $802,020.00. Following the sale, the insider directly owned 301,223 shares in the company, valued at $40,264,478.41. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrea L. Wong sold 5,770 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $130.40, for a total value of $752,408.00. Following the completion of the sale, the director owned 41,891 shares in the company, valued at approximately $5,462,586.40. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,127,213 shares of company stock valued at $493,410,989 in the last three months. Corporate insiders own 12.92% of the company's stock.

Roblox Stock Down 1.3%

Shares of NYSE RBLX opened at $125.14 on Friday. Roblox Corporation has a 12-month low of $37.50 and a 12-month high of $150.59. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The stock has a market cap of $80.72 billion, a P/E ratio of -87.51 and a beta of 1.63. The business's fifty day simple moving average is $112.53 and its 200-day simple moving average is $82.49.

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

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.

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