US Bancorp DE Purchases 3,300 Shares of Roblox Corporation (NYSE:RBLX)

Key Points

• US Bancorp DE has increased its stake in Roblox Corporation by 5.0%, owning a total of 69,210 shares valued at approximately $4 million.
• Roblox's CEO David Baszucki sold 687,500 shares of company stock for over $60 million, significantly reducing his ownership by 76.47%.
• Roblox stock recently traded up 5.6% to $134.28, with a market cap of $86.61 billion and a price-to-earnings ratio of -93.90.

US Bancorp DE increased its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,210 shares of the company's stock after acquiring an additional 3,300 shares during the quarter. US Bancorp DE's holdings in Roblox were worth $4,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in Roblox by 24.3% in the 4th quarter. Renaissance Technologies LLC now owns 7,570,959 shares of the company's stock worth $438,056,000 after purchasing an additional 1,478,421 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Roblox by 23.7% during the fourth quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock valued at $419,867,000 after buying an additional 1,391,800 shares in the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Roblox by 95.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after buying an additional 2,326,588 shares during the period. Two Sigma Investments LP increased its position in shares of Roblox by 25.7% in the fourth quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock worth $261,219,000 after acquiring an additional 921,822 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Roblox by 24.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,363,982 shares of the company's stock valued at $252,501,000 after acquiring an additional 871,027 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 687,500 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was 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 directly owned 211,559 shares in the company, valued at approximately $18,610,845.23. The trade was a 76.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 5,434,585 shares of company stock worth $516,227,822. Corporate insiders own 12.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Roth Mkm raised their price objective on shares of Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. The Goldman Sachs Group increased their target price on Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. raised their target price on Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. BTIG Research set a $131.00 price target on Roblox and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Piper Sandler raised their price objective on Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $117.59.

Roblox Stock Up 5.6%

Shares of Roblox stock traded up $7.17 during midday trading on Wednesday, reaching $134.28. 7,777,645 shares of the company's stock traded hands, compared to its average volume of 9,715,622. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. Roblox Corporation has a 52 week low of $36.07 and a 52 week high of $150.59. The company's 50 day simple moving average is $106.86 and its 200 day simple moving average is $79.55. The company has a market cap of $86.61 billion, a price-to-earnings ratio of -93.90 and a beta of 1.63.

Roblox (NYSE:RBLX - Get Free Report) last posted its 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). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned ($0.32) earnings per share. The company's quarterly revenue was up 50.5% compared to the same quarter last year. Equities analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.