Wealthquest Corp Makes New Investment in Roblox Corporation (NYSE:RBLX)

Wealthquest Corp bought a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,746 shares of the company's stock, valued at approximately $160,000.

Several other hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in shares of Roblox by 5.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 182,816 shares of the company's stock worth $10,656,000 after buying an additional 10,172 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Roblox during the 1st quarter worth approximately $890,000. Kentucky Retirement Systems bought a new position in shares of Roblox during the 1st quarter worth approximately $2,090,000. Garde Capital Inc. bought a new position in shares of Roblox during the 1st quarter worth approximately $66,000. Finally, Praxis Investment Management Inc. raised its holdings in shares of Roblox by 20.6% in the 1st quarter. Praxis Investment Management Inc. now owns 19,330 shares of the company's stock worth $1,127,000 after purchasing an additional 3,300 shares during the period. Institutional investors own 94.46% of the company's stock.

Insider Activity

In related news, CEO David Baszucki sold 173,711 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $100.61, for a total value of $17,477,063.71. Following the completion of the transaction, the chief executive officer now directly owns 875 shares in the company, valued at approximately $88,033.75. The trade was a 99.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $103.35, for a total transaction of $620,100.00. Following the completion of the transaction, the insider now owns 319,223 shares of the company's stock, valued at $32,991,697.05. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,423,995 shares of company stock worth $553,916,033 in the last three months. Corporate insiders own 12.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating on shares of Roblox in a report on Friday, May 2nd. Macquarie lifted their price target on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Bank of America lifted their price target on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Finally, Morgan Stanley lowered their price target on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $78.04.

Roblox Stock Up 1.2%

RBLX opened at $104.76 on Wednesday. The company has a fifty day moving average price of $81.43 and a 200-day moving average price of $68.28. The firm has a market capitalization of $71.05 billion, a P/E ratio of -78.18 and a beta of 1.56. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. Roblox Corporation has a one year low of $34.62 and a one year high of $105.72.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The business's revenue for the quarter was up 30.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) EPS. Equities research analysts expect 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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