Financial Harvest LLC Acquires New Stake in Roblox Corporation (NYSE:RBLX)

Financial Harvest LLC acquired a new stake in shares of Roblox Corporation (NYSE:RBLX) during the first quarter, HoldingsChannel reports. The institutional investor acquired 11,242 shares of the company’s stock, valued at approximately $655,000. Roblox comprises about 0.4% of Financial Harvest LLC’s investment portfolio, making the stock its 20th biggest holding.

Other large investors have also made changes to their positions in the company. FMR LLC lifted its position in Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company’s stock worth $2,294,642,000 after buying an additional 18,715,837 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Roblox by 1,084.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock worth $278,500,000 after buying an additional 4,406,885 shares during the period. Durable Capital Partners LP purchased a new position in Roblox during the fourth quarter worth about $246,560,000. Norges Bank purchased a new position in Roblox during the fourth quarter worth about $167,211,000. Finally, Ninety One UK Ltd purchased a new position in Roblox during the first quarter worth about $137,379,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Activity

In related news, CEO David Baszucki sold 139,507 shares of Roblox stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony P. Lee sold 66,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the transaction, the director owned 284,488 shares of the company’s stock, valued at $29,555,458.32. This trade represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,645,690 shares of company stock worth $592,729,502 in the last three months. Company insiders own 12.92% of the company’s stock.

Analyst Upgrades and Downgrades

RBLX has been the topic of a number of research reports. BMO Capital Markets restated an “outperform” rating and issued a $95.00 price objective (up from $82.00) on shares of Roblox in a report on Friday, May 30th. Wells Fargo & Company raised their price objective on Roblox from $78.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, June 27th. Morgan Stanley cut their price objective on Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. increased their target price on Roblox from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Roblox in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average price target of $86.68.

Roblox Stock Up 1.8%

NYSE:RBLX opened at $124.35 on Friday. The stock’s fifty day simple moving average is $96.51 and its 200-day simple moving average is $74.31. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $84.34 billion, a P/E ratio of -92.80 and a beta of 1.60. Roblox Corporation has a 12-month low of $35.30 and a 12-month high of $124.60.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The business’s revenue was up 30.6% on a year-over-year basis. Equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current 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.