Truist Financial Corp Acquires 16,194 Shares of Roblox Corporation $RBLX

Key Points

• Truist Financial Corp increased its holdings in Roblox Corporation by 149.6% in Q2, acquiring an additional 16,194 shares, bringing their total to 27,018, valued at $2.84 million.
• Roblox's stock has received positive ratings from multiple brokerages, with Morgan Stanley raising the price target from $76.00 to $170.00 and BTIG pushing it from $159.00 to $173.00.
• Roblox reported $1.44 billion in revenue for the last quarter, surpassing analyst expectations, although it missed earnings per share estimates with a reported loss of ($0.41).

Truist Financial Corp increased its holdings in Roblox Corporation (NYSE:RBLX - Free Report) by 149.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,018 shares of the company's stock after purchasing an additional 16,194 shares during the quarter. Truist Financial Corp's holdings in Roblox were worth $2,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Roblox during the 1st quarter worth about $70,254,000. Fox Run Management L.L.C. increased its stake in Roblox by 56.5% in the 1st quarter. Fox Run Management L.L.C. now owns 12,161 shares of the company's stock valued at $709,000 after buying an additional 4,390 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Roblox during the 2nd quarter valued at approximately $2,779,000. Long Corridor Asset Management Ltd bought a new position in shares of Roblox during the 1st quarter valued at approximately $4,372,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Roblox by 15.5% in the 1st 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 during the period. Institutional investors and hedge funds own 94.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on RBLX. Morgan Stanley raised their price target on shares of Roblox from $76.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, August 1st. BTIG Research lifted their target price on shares of Roblox from $159.00 to $173.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Bank of America lifted their target price on shares of Roblox from $159.00 to $171.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Finally, Arete Research set a $116.00 target price on shares of Roblox in a report on Tuesday, September 9th. Twenty research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and a consensus target price of $126.84.

Roblox Price Performance

Shares of NYSE:RBLX opened at $126.32 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average price of $128.93 and a 200 day moving average price of $100.68. Roblox Corporation has a fifty-two week low of $39.30 and a fifty-two week high of $150.59. The firm has a market cap of $81.48 billion, a price-to-earnings ratio of -88.34 and a beta of 1.63.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%.Roblox's revenue was up 50.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.32) EPS. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side 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, insider Arvind Chakravarthy sold 20,552 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $117.71, for a total transaction of $2,419,175.92. Following the completion of the transaction, the insider owned 242,469 shares in the company, valued at $28,541,025.99. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anthony P. Lee sold 111,112 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $131.01, for a total transaction of $14,556,783.12. The disclosure for this sale can be found here. Insiders have sold 372,876 shares of company stock worth $48,196,989 over the last three months. 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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