Vanguard Group Inc. Boosts Position in Roblox Corporation (NYSE:RBLX)

Key Points

• Vanguard Group Inc. increased its stake in Roblox Corporation by 8.3% during the 1st quarter, owning a total of 57,640,317 shares valued at approximately $3.36 billion.
• Roblox's stock has received varied analyst ratings, with target prices ranging from $63 to $160, and a consensus rating of "Moderate Buy".
• CEO David Baszucki sold 687,500 shares of Roblox, marking a significant 76.47% decrease in his ownership, which has raised concerns among investors.

Vanguard Group Inc. increased its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,640,317 shares of the company's stock after buying an additional 4,400,624 shares during the period. Vanguard Group Inc. owned 9.17% of Roblox worth $3,359,854,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd grew its holdings in Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after acquiring an additional 240 shares in the last quarter. Larson Financial Group LLC boosted its stake in Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after purchasing an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Roblox in the 1st quarter worth approximately $39,000. Colonial Trust Co SC acquired a new stake in Roblox in the 4th quarter worth approximately $41,000. Finally, TD Private Client Wealth LLC acquired a new stake in Roblox during the 1st quarter valued at approximately $58,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on RBLX. Macquarie lifted their price objective on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. The Goldman Sachs Group lifted their target price on shares of Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Canaccord Genuity Group lifted their target price on shares of Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Roblox from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Raymond James Financial lowered shares of Roblox from a "strong-buy" rating to an "outperform" rating and lifted their target price for the company from $81.00 to $130.00 in a report on Wednesday, July 23rd. Two equities 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 stock presently has a consensus rating of "Moderate Buy" and an average target price of $117.59.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 687,500 shares of the company's stock in a transaction dated 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 owned 211,559 shares of the company's stock, valued at $18,610,845.23. This represents a 76.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 5,441,460 shares of company stock worth $517,140,722. Insiders own 12.92% of the company's stock.

Roblox Stock Performance

NYSE:RBLX opened at $128.75 on Friday. The company's 50-day moving average price is $109.58 and its 200-day moving average price is $80.80. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The company has a market cap of $83.05 billion, a P/E ratio of -90.03 and a beta of 1.63. Roblox Corporation has a twelve month low of $36.77 and a twelve month high of $150.59.

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

About Roblox

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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