Smith Group Asset Management LLC Sells 4,900 Shares of Roblox Corporation (NYSE:RBLX)

Smith Group Asset Management LLC lowered its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,130 shares of the company's stock after selling 4,900 shares during the period. Smith Group Asset Management LLC's holdings in Roblox were worth $3,738,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Roblox in the first quarter worth about $890,000. Azzad Asset Management Inc. ADV purchased a new stake in Roblox in the 1st quarter worth approximately $280,000. NewSquare Capital LLC lifted its stake in Roblox by 2.7% in the 1st quarter. NewSquare Capital LLC now owns 115,121 shares of the company's stock worth $6,710,000 after purchasing an additional 3,065 shares in the last quarter. Amundi boosted its holdings in Roblox by 111.4% in the 4th quarter. Amundi now owns 3,191,137 shares of the company's stock valued at $198,010,000 after purchasing an additional 1,681,263 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Roblox by 101.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock valued at $40,762,000 after purchasing an additional 355,270 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO David Baszucki sold 139,507 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $105.19, for a total value of $14,674,741.33. Following the completion of the sale, the chief executive officer owned 211,559 shares of the company's stock, valued at $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $103.35, for a total transaction of $620,100.00. Following the transaction, the insider directly owned 319,223 shares in the company, valued at approximately $32,991,697.05. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,858,857 shares of company stock worth $600,571,407. Corporate insiders own 12.92% of the company's stock.

Roblox Trading Up 2.4%

Shares of NYSE RBLX traded up $2.37 during mid-day trading on Wednesday, hitting $103.02. The stock had a trading volume of 3,613,629 shares, compared to its average volume of 8,005,498. The firm has a market cap of $69.88 billion, a P/E ratio of -76.91 and a beta of 1.60. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50 day moving average price of $85.80 and a two-hundred day moving average price of $69.86. Roblox Corporation has a 1 year low of $35.30 and a 1 year high of $106.17.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.43) earnings per share. On average, equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on RBLX. Benchmark lifted their price objective on Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Bank of America lifted their price target on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Roth Mkm boosted their price objective on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. FBN Securities initiated coverage on shares of Roblox in a research note on Friday, March 28th. They issued a "sector perform" rating and a $65.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Roblox from $78.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.52.

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.