Roblox Corporation (NYSE:RBLX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Roblox Corporation (NYSE:RBLX - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118,943 shares of the company's stock after acquiring an additional 106,074 shares during the period. Allspring Global Investments Holdings LLC owned about 0.18% of Roblox worth $68,244,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd increased its position in shares of 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 acquiring an additional 240 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Roblox in the first quarter worth approximately $39,000. Colonial Trust Co SC purchased a new position in shares of Roblox in the fourth quarter worth approximately $41,000. Parkside Financial Bank & Trust increased its position in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after acquiring an additional 230 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position 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 acquiring an additional 195 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Macquarie lifted their target price on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Benchmark boosted their price objective on shares of Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Bank of America boosted their price objective on shares of Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Wedbush reaffirmed a "hold" rating on shares of Roblox in a research report on Monday, June 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.70.

Insider Transactions at Roblox

In related news, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $57.99, for a total transaction of $347,940.00. Following the completion of the transaction, the insider now directly owns 364,244 shares in the company, valued at $21,122,509.56. This represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 1,375,002 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the transaction, the chief executive officer now owns 221,983 shares of the company's stock, valued at approximately $16,024,952.77. The trade was a 86.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,712,649 shares of company stock worth $584,262,803. 12.92% of the stock is owned by insiders.

Roblox Price Performance

Shares of Roblox stock opened at $105.80 on Friday. The firm has a fifty day simple moving average of $84.13 and a 200-day simple moving average of $69.26. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. Roblox Corporation has a 1-year low of $35.30 and a 1-year high of $105.87. The stock has a market capitalization of $71.76 billion, a price-to-earnings ratio of -78.96 and a beta of 1.56.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the company earned ($0.43) earnings per share. Roblox's revenue for the quarter was up 30.6% on a year-over-year basis. On average, sell-side analysts expect that Roblox Corporation will post -1.49 earnings per share for the current 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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