West Michigan Advisors LLC Invests $465,000 in Roblox Corporation (NYSE:RBLX)

Key Points

• West Michigan Advisors LLC acquired a new stake in Roblox Corporation valued at approximately $465,000 by purchasing 7,973 shares in the first quarter.
• Insiders, including Director Anthony P. Lee and CEO David Baszucki, sold significant amounts of stock, decreasing their ownership by 18.83% and 39.74%, respectively.
• Roblox's stock has drawn positive attention from analysts, with multiple firms raising their target prices and maintaining a consensus rating of "Moderate Buy" and an average target price of $117.59.

West Michigan Advisors LLC bought a new position in shares of Roblox Corporation (NYSE:RBLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 7,973 shares of the company's stock, valued at approximately $465,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RBLX. Renaissance Technologies LLC raised its position in shares of Roblox by 24.3% during the fourth quarter. Renaissance Technologies LLC now owns 7,570,959 shares of the company's stock worth $438,056,000 after purchasing an additional 1,478,421 shares during the period. Two Sigma Advisers LP grew its position in shares of Roblox by 23.7% in the 4th quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock valued at $419,867,000 after purchasing an additional 1,391,800 shares during the period. Whale Rock Capital Management LLC increased its stake in Roblox by 95.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after purchasing an additional 2,326,588 shares in the last quarter. Two Sigma Investments LP increased its stake in Roblox by 25.7% during the 4th quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock worth $261,219,000 after purchasing an additional 921,822 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Roblox by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,363,982 shares of the company's stock worth $252,501,000 after buying an additional 871,027 shares during the period. 94.46% of the stock is owned by institutional investors.

Roblox Stock Performance

RBLX stock traded up $7.17 during trading hours on Wednesday, reaching $134.28. The stock had a trading volume of 7,777,645 shares, compared to its average volume of 9,715,622. The stock has a 50-day simple moving average of $107.85 and a 200 day simple moving average of $79.92. Roblox Corporation has a fifty-two week low of $36.07 and a fifty-two week high of $150.59. The stock has a market capitalization of $86.61 billion, a PE ratio of -93.90 and a beta of 1.63. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Benchmark upped their target price on shares of Roblox from $77.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. The Goldman Sachs Group increased their target price on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Wells Fargo & Company boosted their price target on Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Oppenheimer reiterated an "outperform" rating and set a $125.00 price objective (up from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $117.59.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 139,507 shares of Roblox stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the completion of the transaction, the chief executive officer directly owned 211,559 shares in the company, valued at approximately $22,253,891.21. The trade was a 39.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $129.37, for a total value of $8,538,420.00. Following the completion of the sale, the director owned 279,868 shares in the company, valued at approximately $36,206,523.16. This trade represents a 19.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,434,585 shares of company stock valued at $516,227,822. Corporate insiders own 12.92% of the company's stock.

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.