Roblox Corporation (NYSE:RBLX) Shares Bought by Vanguard Group Inc.

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. raised its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund 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 about 9.17% of Roblox worth $3,359,854,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Roblox by 15.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock valued at $2,096,000 after acquiring an additional 4,760 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Roblox during the 1st quarter worth approximately $890,000. IFM Investors Pty Ltd boosted its holdings in shares of Roblox by 7.2% during the 1st quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company's stock worth $5,370,000 after purchasing an additional 6,180 shares during the last quarter. Montag A & Associates Inc. raised its position in shares of Roblox by 1,193.7% during the 1st quarter. Montag A & Associates Inc. now owns 26,934 shares of the company's stock valued at $1,570,000 after buying an additional 24,852 shares during the period. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Roblox during the 1st quarter valued at approximately $280,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Roblox Stock Down 3.6%

Shares of RBLX traded down $4.64 during midday trading on Wednesday, hitting $124.89. The company had a trading volume of 3,914,374 shares, compared to its average volume of 8,719,803. The company's 50 day moving average price is $111.20 and its 200 day moving average price is $81.78. The stock has a market cap of $80.56 billion, a price-to-earnings ratio of -87.22 and a beta of 1.63. Roblox Corporation has a 52 week low of $37.50 and a 52 week high of $150.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted ($0.32) earnings per share. The company's quarterly revenue was up 50.5% on a year-over-year basis. On average, equities research analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on RBLX shares. Wedbush lifted their price target on shares of Roblox from $142.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. BMO Capital Markets upped their price objective on Roblox from $135.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Piper Sandler boosted their target price 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. Roth Mkm upped their price objective on shares of Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Benchmark upped their price objective on shares of Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $117.59.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 687,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 211,559 shares of the company's stock, valued at $18,610,845.23. The trade was a 76.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 5,201,935 shares of company stock worth $499,388,389. Insiders own 12.92% of the company's stock.

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.