Roblox Corporation $RBLX Position Lowered by National Bank of Canada FI

Key Points

• National Bank of Canada FI has reduced its stake in Roblox Corporation by 90.6% during the first quarter, holding only 3,809 shares worth approximately $222,000 after selling 36,598 shares.
• Roblox's quarterly earnings report revealed a loss of ($0.41) EPS, missing expectations, while revenue increased by 50.5% year-over-year to $1.44 billion.
• Roblox's stock has seen varied analyst outlooks, with price targets ranging from $63.00 to $159.00, and a consensus rating of "Moderate Buy" based on multiple evaluations.

National Bank of Canada FI decreased its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 90.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,809 shares of the company's stock after selling 36,598 shares during the period. National Bank of Canada FI's holdings in Roblox were worth $222,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Gordian Capital Singapore Pte Ltd lifted its position in shares of Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Roblox during the first quarter worth about $39,000. Colonial Trust Co SC acquired a new stake in Roblox during the fourth quarter worth about $41,000. Finally, Headlands Technologies LLC acquired a new stake in Roblox during the first quarter worth about $57,000. Institutional investors own 94.46% of the company's stock.

Roblox Price Performance

NYSE RBLX opened at $117.41 on Monday. Roblox Corporation has a 12 month low of $37.50 and a 12 month high of $150.59. 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 firm has a market capitalization of $75.73 billion, a PE ratio of -82.10 and a beta of 1.63. The company's 50 day simple moving average is $112.96 and its 200 day simple moving average is $83.00.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned ($0.32) EPS. Roblox's revenue was up 50.5% compared to the same quarter last year. As a group, equities research analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RBLX. The Goldman Sachs Group increased their price objective on shares of Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Bank of America increased their price objective on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. BTIG Research set a $131.00 price objective on shares of Roblox and gave the stock a "buy" rating in a research note on Monday, July 28th. Piper Sandler increased their price objective on shares of Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC increased their price objective on shares of Roblox from $79.00 to $159.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $117.59.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 687,500 shares of the firm's stock in a transaction that occurred on 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 owned 211,559 shares in the company, valued at $18,610,845.23. This trade represents a 76.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 5,127,213 shares of company stock worth $493,410,989 in the last quarter. 12.92% of the stock is owned by company 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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