Roblox Corporation (NYSE:RBLX) Shares Purchased by R Squared Ltd

Key Points

• R Squared Ltd significantly increased its holdings in Roblox Corporation by 230.3% in Q1, now owning 4,790 shares worth $279,000.
• Roblox reported a revenue of $1.44 billion for the last quarter, surpassing estimates, but reported a loss of ($0.41) EPS, missing the consensus estimate.
• Institutional investors currently hold 94.46% of Roblox's stock, indicating strong institutional confidence in the company.

R Squared Ltd lifted its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 230.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,790 shares of the company's stock after acquiring an additional 3,340 shares during the quarter. R Squared Ltd's holdings in Roblox were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 purchasing an additional 4,760 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Roblox during the first quarter worth about $890,000. IFM Investors Pty Ltd increased 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 worth $5,370,000 after purchasing an additional 6,180 shares during the last quarter. Montag A & Associates Inc. increased its position in shares of 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 acquiring an additional 24,852 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new stake in shares of Roblox during the first quarter valued at about $280,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RBLX. JPMorgan Chase & Co. lifted their price objective on shares of Roblox from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Macquarie boosted their price objective on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their price objective on shares of Roblox from $116.00 to $153.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America lifted their target price on shares of Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $125.00 target price (up from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Two equities research 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. According to MarketBeat, Roblox has an average rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 687,500 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the transaction, the chief executive officer directly owned 211,559 shares in the company, valued at $18,610,845.23. This represents a 76.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 5,251,703 shares of company stock worth $492,380,210. Corporate insiders own 12.92% of the company's stock.

Roblox Price Performance

Shares of Roblox stock traded down $2.50 on Tuesday, hitting $128.20. The company's stock had a trading volume of 1,581,607 shares, compared to its average volume of 8,781,750. The company has a market capitalization of $82.69 billion, a P/E ratio of -89.59 and a beta of 1.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94. The firm has a fifty day moving average price of $106.02 and a 200-day moving average price of $79.21. Roblox Corporation has a 52-week low of $36.07 and a 52-week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. Roblox's revenue for the quarter was up 50.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) earnings per share. On average, equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Roblox Company 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.