Roblox Co. (NYSE:RBLX) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC grew its holdings in Roblox Co. (NYSE:RBLX) by 27.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,409,924 shares of the company’s stock after buying an additional 2,684,713 shares during the period. Roblox accounts for about 6.8% of Ieq Capital LLC’s holdings, making the stock its biggest holding. Ieq Capital LLC’s holdings in Roblox were worth $473,811,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Roblox in the fourth quarter valued at about $25,000. Washington Trust Advisors Inc. purchased a new stake in shares of Roblox in the first quarter valued at about $39,000. Blue Trust Inc. grew its holdings in shares of Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after purchasing an additional 912 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Roblox in the first quarter valued at about $52,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Roblox by 306.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,483 shares of the company’s stock valued at $56,000 after purchasing an additional 1,118 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RBLX shares. The Goldman Sachs Group dropped their price objective on shares of Roblox from $48.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price (down previously from $56.00) on shares of Roblox in a research note on Friday, May 10th. Canaccord Genuity Group lowered their target price on shares of Roblox from $56.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Jefferies Financial Group initiated coverage on shares of Roblox in a research note on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Finally, JPMorgan Chase & Co. raised shares of Roblox from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $48.00 in a research note on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.59.

Insider Activity at Roblox

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total transaction of $456,040.00. Following the sale, the director now owns 9,747,603 shares of the company’s stock, valued at $341,945,913.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total value of $456,040.00. Following the transaction, the director now directly owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 3,910 shares of Roblox stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $127,309.60. Following the completion of the transaction, the chief accounting officer now owns 98,457 shares in the company, valued at $3,205,759.92. The disclosure for this sale can be found here. Insiders have sold a total of 476,889 shares of company stock valued at $17,506,145 over the last 90 days. 22.15% of the stock is owned by corporate insiders.

Roblox Stock Down 0.5 %

NYSE:RBLX traded down $0.21 during mid-day trading on Thursday, hitting $39.79. The stock had a trading volume of 3,329,305 shares, compared to its average volume of 7,526,990. The stock has a 50-day simple moving average of $35.72 and a two-hundred day simple moving average of $38.22. The company has a market capitalization of $23.53 billion, a PE ratio of -21.39 and a beta of 1.59. Roblox Co. has a twelve month low of $24.88 and a twelve month high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10. The firm had revenue of $923.76 million for the quarter, compared to analysts’ expectations of $918.85 million. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.44) earnings per share. On average, equities research analysts anticipate that Roblox Co. will post -1.67 EPS for the current year.

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.