Totem Point Management LLC Takes $2.96 Million Position in Roblox Corporation $RBLX

Key Points

• Totem Point Management LLC has purchased a new stake in Roblox Corporation worth approximately $2.96 million, acquiring 50,845 shares, which makes up about 3.7% of its portfolio.
• In recent analyst ratings, Oppenheimer upgraded Roblox to an "outperform" rating with a price objective of $125.00, reflecting a significant increase from its previous target.
• Roblox reported a 50.5% increase in revenue year-over-year for the last quarter, reaching $1.44 billion, although it missed earnings expectations, reporting a loss of ($0.41) per share.

Totem Point Management LLC purchased a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 50,845 shares of the company's stock, valued at approximately $2,964,000. Roblox makes up about 3.7% of Totem Point Management LLC's portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of Roblox during the first quarter valued at approximately $70,254,000. Fox Run Management L.L.C. raised its stake in shares of Roblox by 56.5% during the first quarter. Fox Run Management L.L.C. now owns 12,161 shares of the company's stock valued at $709,000 after acquiring an additional 4,390 shares in the last quarter. Long Corridor Asset Management Ltd bought a new position in Roblox in the first quarter worth approximately $4,372,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Roblox by 15.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock worth $2,096,000 after buying an additional 4,760 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Roblox in the first quarter worth approximately $890,000. Institutional investors own 94.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RBLX. Oppenheimer reissued an "outperform" rating and issued a $125.00 price objective (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Roth Mkm boosted their price objective on shares of Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Wolfe Research raised shares of Roblox from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research note on Friday, August 22nd. Cowen reissued a "sell" rating on shares of Roblox in a research note on Monday, August 18th. Finally, BMO Capital Markets boosted their price objective on shares of Roblox from $135.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Twenty analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $119.00.

Roblox Price Performance

NYSE RBLX opened at $126.90 on Friday. The firm's fifty day simple moving average is $117.11 and its two-hundred day simple moving average is $85.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. Roblox Corporation has a 12-month low of $37.50 and a 12-month high of $150.59. The firm has a market capitalization of $81.85 billion, a P/E ratio of -88.74 and a beta of 1.63.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%.The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the firm posted ($0.32) earnings per share. Roblox's revenue for the quarter was up 50.5% compared to the same quarter last year. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 687,500 shares of Roblox stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.97, for a total value of $60,479,375.00. Following the transaction, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $18,610,845.23. The trade was a 76.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,935,047 shares of company stock valued at $478,661,185 over the last 90 days. 12.92% of the stock is currently owned by insiders.

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.

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