2,746 Shares in Roblox Corporation (NYSE:RBLX) Bought by Wealthquest Corp

Key Points

• Wealthquest Corp acquired a new stake in Roblox Corporation by purchasing 2,746 shares valued at approximately $160,000 during the first quarter.
• Analysts are optimistic about Roblox, with multiple firms increasing their price targets and giving the stock a "buy" rating, reflecting a consensus rating of "Moderate Buy" and an average target price of $99.73.
• Roblox's stock has seen significant insider transactions, including CEO David Baszucki selling 1,375,002 shares worth over $99.2 million, indicating a notable decrease in his ownership in the company.

Wealthquest Corp 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 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,746 shares of the company's stock, valued at approximately $160,000.

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

Analysts Set New Price Targets

RBLX has been the subject of several recent analyst reports. Bank of America lifted their price target on Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Benchmark boosted their price objective on Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a research note on Friday. Needham & Company LLC upped their price target on Roblox from $79.00 to $159.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley upped their price objective on Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Oppenheimer restated an "outperform" rating and set a $125.00 price target (up previously from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $117.59.

Insider Buying and Selling

In related news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the transaction, the chief executive officer owned 221,983 shares in the company, valued at approximately $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 6,651,690 shares of company stock worth $593,440,562 in the last quarter. Company insiders own 12.92% of the company's stock.

Roblox Price Performance

Shares of NYSE RBLX traded down $12.63 during midday trading on Friday, hitting $125.16. The stock had a trading volume of 14,997,187 shares, compared to its average volume of 8,640,285. The company has a market capitalization of $84.89 billion, a PE ratio of -87.52 and a beta of 1.63. The stock has a 50 day simple moving average of $105.05 and a 200-day simple moving average of $78.67. Roblox Corporation has a 1 year low of $35.30 and a 1 year high of $150.59. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 417.87%. The business's revenue was up 50.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.32) EPS. On average, sell-side analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal year.

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.