Roblox Corporation (NYSE:RBLX) Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC decreased its holdings in Roblox Corporation (NYSE:RBLX) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,130 shares of the company’s stock after selling 4,900 shares during the quarter. Smith Group Asset Management LLC’s holdings in Roblox were worth $3,738,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RBLX. MetLife Investment Management LLC grew its holdings in Roblox by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock worth $1,873,000 after acquiring an additional 161 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares during the period. Parkside Financial Bank & Trust boosted its stake in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Gordian Capital Singapore Pte Ltd boosted its stake 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 purchasing an additional 240 shares during the period. Finally, Atala Financial Inc boosted its stake in Roblox by 0.6% during the 1st quarter. Atala Financial Inc now owns 50,403 shares of the company’s stock worth $2,941,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RBLX shares. Morgan Stanley cut their price target on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Canaccord Genuity Group lifted their target price on shares of Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. The Goldman Sachs Group lifted their price target on shares of Roblox from $63.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, May 14th. Citigroup reiterated an “overweight” rating on shares of Roblox in a report on Monday, June 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $105.00 target price (up from $85.00) on shares of Roblox in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.57.

Roblox Stock Down 0.5%

RBLX opened at $105.11 on Tuesday. Roblox Corporation has a fifty-two week low of $35.30 and a fifty-two week high of $106.17. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s fifty day moving average price is $85.03 and its two-hundred day moving average price is $69.64. The company has a market capitalization of $71.29 billion, a P/E ratio of -78.44 and a beta of 1.56.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned ($0.43) earnings per share. The business’s revenue was up 30.6% compared to the same quarter last year. On average, analysts anticipate that Roblox Corporation will post -1.49 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 139,507 shares of the business’s stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the sale, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew D. Kaufman sold 6,000 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $103.35, for a total transaction of $620,100.00. Following the completion of the sale, the insider owned 319,223 shares in the company, valued at $32,991,697.05. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,858,857 shares of company stock worth $600,571,407 in the last quarter. Corporate insiders own 12.92% of the company’s stock.

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.