OVERSEA CHINESE BANKING Corp Ltd Purchases New Position in Roblox Corporation (NYSE:RBLX)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Roblox Corporation (NYSE:RBLX) in the first quarter, HoldingsChannel reports. The fund purchased 29,611 shares of the company’s stock, valued at approximately $1,726,000.

A number of other institutional investors have also recently made changes to their positions in RBLX. Proficio Capital Partners LLC bought a new position in shares of Roblox in the 4th quarter valued at about $6,455,000. Independent Advisor Alliance lifted its stake in Roblox by 23.6% in the fourth quarter. Independent Advisor Alliance now owns 11,178 shares of the company’s stock worth $647,000 after purchasing an additional 2,132 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Roblox in the fourth quarter worth about $250,000. EverSource Wealth Advisors LLC lifted its stake in Roblox by 188.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 633 shares during the last quarter. Finally, Vestcor Inc lifted its stake in Roblox by 16.8% in the fourth quarter. Vestcor Inc now owns 9,711 shares of the company’s stock worth $562,000 after purchasing an additional 1,394 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 1,375,002 shares of the business’s stock in a transaction 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 directly owned 221,983 shares in the company, valued at $16,024,952.77. The trade was a 86.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 6,645,690 shares of company stock worth $592,729,502. 12.92% of the stock is owned by insiders.

Roblox Trading Up 5.9%

Shares of NYSE:RBLX opened at $111.92 on Tuesday. Roblox Corporation has a 12-month low of $35.30 and a 12-month high of $111.96. The business’s fifty day simple moving average is $92.61 and its 200-day simple moving average is $72.82. The company has a market capitalization of $75.91 billion, a PE ratio of -83.52 and a beta of 1.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RBLX. FBN Securities began coverage on shares of Roblox in a research note on Friday, March 28th. They issued a “sector perform” rating and a $65.00 price objective for the company. Barclays raised their price objective on shares of Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Oppenheimer reissued an “outperform” rating and issued a $125.00 price objective (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Wells Fargo & Company raised their target price on shares of Roblox from $78.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, June 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $95.00 target price (up from $82.00) on shares of Roblox in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.45.

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.