Roblox Corporation (NYSE:RBLX) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Roblox Corporation by 15% in the first quarter, owning approximately 0.13% of the company valued at around $47.2 million.
• Recent insider transactions include Director Andrea L. Wong selling 5,770 shares, resulting in a 12.11% decrease of her ownership, and a total of over 5.4 million shares sold by insiders in the past ninety days.
• Analysts have set new price targets for Roblox, with Benchmark raising their target from $77 to $150, while other firms provided both buy and sell ratings, resulting in a consensus rating of "Moderate Buy".

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 810,183 shares of the company's stock after acquiring an additional 105,692 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of Roblox worth $47,226,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd raised its position in Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after acquiring an additional 240 shares in the last quarter. Larson Financial Group LLC boosted its position in Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after purchasing an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Roblox during the 1st quarter worth approximately $39,000. Colonial Trust Co SC purchased a new position in shares of Roblox during the 4th quarter valued at approximately $41,000. Finally, Headlands Technologies LLC acquired a new position in shares of Roblox in the 1st quarter valued at $57,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Roblox

In other news, CEO David Baszucki sold 687,500 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $87.97, for a total value of $60,479,375.00. Following the completion of the sale, the chief executive officer owned 211,559 shares of the company's stock, valued at $18,610,845.23. This represents a 76.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 5,441,460 shares of company stock worth $517,140,722. 12.92% of the stock is owned by insiders.

Roblox Price Performance

RBLX stock traded down $0.88 during mid-day trading on Friday, reaching $128.75. The company's stock had a trading volume of 5,703,051 shares, compared to its average volume of 9,982,098. 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 company's 50 day moving average is $109.58 and its two-hundred day moving average is $81.00. Roblox Corporation has a fifty-two week low of $36.77 and a fifty-two week high of $150.59. The stock has a market cap of $83.05 billion, a PE ratio of -90.03 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RBLX shares. BTIG Research set a $131.00 price target on shares of Roblox and gave the stock a "buy" rating in a report on Monday, July 28th. Canaccord Genuity Group increased their target price on shares of Roblox from $125.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company lifted their price target on Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Roth Mkm upped their price target on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group raised their price objective on Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Two research 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 data from MarketBeat, Roblox has an average rating of "Moderate Buy" and an average 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.