Roblox Corporation (NYSE:RBLX) Shares Sold by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. reduced its stake in Roblox Corporation by 25.5%, selling 64,934 shares and bringing its total holdings down to 189,532 shares worth approximately $11 million.
• Several hedge funds increased their holdings in Roblox, with Vanguard Group Inc. boosting its position by 8.3%, now owning over 57 million shares valued at around $3.36 billion.
• Analysts have issued mixed ratings: Morgan Stanley upgraded Roblox's price target from $76 to $170, while others like Wall Street Zen downgraded it from "hold" to "sell", indicating a diverse outlook on the stock's future performance.

Vestmark Advisory Solutions Inc. lowered its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 25.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 189,532 shares of the company's stock after selling 64,934 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Roblox were worth $11,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock valued at $3,359,854,000 after acquiring an additional 4,400,624 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Roblox by 23.7% in the 4th quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock valued at $419,867,000 after acquiring an additional 1,391,800 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Roblox by 95.8% in the 4th quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock valued at $275,137,000 after acquiring an additional 2,326,588 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Roblox by 25.7% in the 4th quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock valued at $261,219,000 after acquiring an additional 921,822 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Roblox by 24.9% in the 4th 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 last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RBLX. Morgan Stanley raised their price target on Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen downgraded Roblox from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Bank of America raised their price target on Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. 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. Finally, Raymond James Financial cut Roblox from a "strong-buy" rating to an "outperform" rating and increased their price objective for the stock from $81.00 to $130.00 in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, Roblox currently has an average rating of "Moderate Buy" and a consensus price target of $117.59.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 687,500 shares of Roblox stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the completion of the transaction, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $18,610,845.23. The trade was a 76.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 5,127,213 shares of company stock worth $493,410,989 over the last ninety days. Insiders own 12.92% of the company's stock.

Roblox Stock Down 2.1%

RBLX opened at $126.79 on Thursday. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day simple moving average of $111.91 and a 200-day simple moving average of $82.09. The stock has a market capitalization of $81.78 billion, a P/E ratio of -88.66 and a beta of 1.63. Roblox Corporation has a 12 month low of $37.50 and a 12 month high of $150.59.

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 business 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%. The firm's quarterly revenue was up 50.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.32) earnings per share. On average, equities analysts anticipate 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.

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