Tabor Asset Management LP Invests $722,000 in Roblox Corporation (NYSE:RBLX)

Tabor Asset Management LP bought a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 12,393 shares of the company's stock, valued at approximately $722,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Roblox by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company's stock valued at $3,080,449,000 after acquiring an additional 462,450 shares during the period. FMR LLC increased its position in Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after acquiring an additional 18,715,837 shares during the period. Geode Capital Management LLC boosted its holdings in Roblox by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company's stock valued at $495,564,000 after purchasing an additional 246,610 shares during the period. Renaissance Technologies LLC grew its position in shares of Roblox by 24.3% during the 4th quarter. Renaissance Technologies LLC now owns 7,570,959 shares of the company's stock worth $438,056,000 after purchasing an additional 1,478,421 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Roblox by 23.7% during the fourth quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock worth $419,867,000 after purchasing an additional 1,391,800 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the transaction, the chief executive officer owned 221,983 shares in the company, valued at approximately $16,024,952.77. This represents a 86.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 6,651,690 shares of company stock valued at $593,440,562. 12.92% of the stock is currently owned by corporate insiders.

Roblox Price Performance

Roblox stock traded down $0.04 during midday trading on Monday, hitting $124.46. 9,621,871 shares of the company's stock were exchanged, compared to its average volume of 8,168,025. The company has a market cap of $84.42 billion, a P/E ratio of -92.88 and a beta of 1.60. 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 stock has a 50-day moving average price of $96.51 and a two-hundred day moving average price of $74.53. Roblox Corporation has a 52-week low of $35.30 and a 52-week high of $127.94.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. Roblox's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.43) EPS. On average, equities research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RBLX shares. 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 report on Thursday, June 5th. Macquarie raised 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 increased their target price on Roblox from $78.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. JPMorgan Chase & Co. upped their price target on Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Canaccord Genuity Group upped their target price on Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Roblox currently has an average rating of "Moderate Buy" and a consensus price target of $86.68.

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.