Roblox Corporation (NYSE:RBLX) Stake Trimmed by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Roblox Corporation by 2.0%, currently holding approximately 27.5 million shares, which represents about 1.4% of its investment portfolio.
• Various institutional investors are actively trading Roblox shares, with Mirae Asset Global Investments Co. Ltd. increasing its position by 15.5% during the first quarter.
• Analysts have raised their price targets for Roblox, with Piper Sandler increasing its target from $105 to $138 and most analysts maintaining a consensus rating of "Moderate Buy."

Baillie Gifford & Co. lowered its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,478,545 shares of the company's stock after selling 553,179 shares during the quarter. Roblox makes up 1.4% of Baillie Gifford & Co.'s investment portfolio, making the stock its 18th largest holding. Baillie Gifford & Co. owned about 4.37% of Roblox worth $1,601,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $2,096,000 after buying an additional 4,760 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Roblox during the first quarter valued at $890,000. IFM Investors Pty Ltd raised its position in Roblox by 7.2% during the first quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock valued at $5,370,000 after buying an additional 6,180 shares during the period. Azzad Asset Management Inc. ADV acquired a new position in Roblox during the first quarter valued at $280,000. Finally, Montag A & Associates Inc. raised its position in Roblox by 1,193.7% during the first quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock valued at $1,570,000 after buying an additional 24,852 shares during the period. Hedge funds and other institutional investors own 94.46% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Piper Sandler upped their price target on Roblox from $105.00 to $138.00 and gave the company an "overweight" rating in a research report on Thursday. Macquarie upped their price target on Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company upped their target price on Roblox from $78.00 to $116.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Benchmark upped their target price on Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group upped their target price on Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.50.

Roblox Stock Performance

Shares of NYSE RBLX opened at $118.07 on Friday. 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 firm has a market cap of $80.09 billion, a price-to-earnings ratio of -88.11 and a beta of 1.60. The business's 50-day simple moving average is $99.93 and its 200-day simple moving average is $75.98. Roblox Corporation has a 52 week low of $35.30 and a 52 week high of $127.99.

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 analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The firm's revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.43) EPS. As a group, equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 139,507 shares of the firm's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anthony P. Lee sold 66,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total value of $6,856,740.00. Following the completion of the sale, the director directly owned 284,488 shares in the company, valued at $29,555,458.32. This trade represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,651,690 shares of company stock valued at $593,440,562 in the last 90 days. 12.92% of the stock is currently owned by insiders.

Roblox 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.

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