Massachusetts Financial Services Co. MA increased its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 210.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,256,815 shares of the company's stock after acquiring an additional 2,207,897 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.52% of Roblox worth $189,840,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Roblox by 15.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock worth $2,096,000 after purchasing an additional 4,760 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Roblox during the first quarter worth approximately $890,000. IFM Investors Pty Ltd raised its stake in Roblox by 7.2% during the first quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock worth $5,370,000 after purchasing an additional 6,180 shares during the period. Azzad Asset Management Inc. ADV purchased a new position in Roblox during the first quarter worth approximately $280,000. Finally, NewSquare Capital LLC raised its stake in Roblox by 2.7% during the first 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 during the period. Institutional investors and hedge funds own 94.46% of the company's stock.
Insider Activity at Roblox
In other news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the transaction, the chief executive officer directly owned 221,983 shares of the company's stock, valued at approximately $16,024,952.77. The trade was a 86.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 6,645,690 shares of company stock valued at $592,729,502. Insiders own 12.92% of the company's stock.
Roblox Stock Up 2.8%
RBLX stock traded up $3.32 during mid-day trading on Thursday, hitting $122.34. 5,931,075 shares of the company were exchanged, compared to its average volume of 8,100,629. The company has a market capitalization of $82.98 billion, a PE ratio of -91.45 and a beta of 1.60. 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 twelve month low of $35.30 and a twelve month high of $122.68. The firm has a fifty day simple moving average of $94.41 and a 200 day simple moving average of $73.41.
Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.14 billion. During the same period in the previous year, the business posted ($0.43) EPS. The company's quarterly revenue was up 30.6% on a year-over-year basis. On average, research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on RBLX. Citigroup raised their target price on shares of Roblox from $100.00 to $123.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Bank of America raised their target price on shares of Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Morgan Stanley cut their target price on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating on shares of Roblox in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and an average target price of $86.68.
Get Our Latest Stock Analysis on Roblox
Roblox Profile
(
Free Report)
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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