Mirae Asset Global Investments Co. Ltd. Raises Holdings in Roblox Corporation (NYSE:RBLX)

Mirae Asset Global Investments Co. Ltd. increased its position in Roblox Corporation (NYSE:RBLX) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,483 shares of the company’s stock after buying an additional 4,760 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Roblox were worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. MetLife Investment Management LLC increased its holdings in Roblox by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock valued at $1,873,000 after purchasing an additional 161 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Roblox by 25.6% in the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after purchasing an additional 195 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its holdings in Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock valued at $32,000 after purchasing an additional 240 shares in the last quarter. Atala Financial Inc increased its holdings in Roblox by 0.6% in the 1st quarter. Atala Financial Inc now owns 50,403 shares of the company’s stock valued at $2,941,000 after purchasing an additional 292 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its holdings in Roblox by 2.5% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 13,614 shares of the company’s stock valued at $794,000 after purchasing an additional 327 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on RBLX shares. Wedbush upgraded Roblox to a “strong-buy” rating in a report on Tuesday. Citigroup restated an “overweight” rating on shares of Roblox in a research note on Monday, June 16th. FBN Securities initiated coverage on Roblox in a research note on Friday, March 28th. They set a “sector perform” rating and a $65.00 target price for the company. JPMorgan Chase & Co. raised their target price on Roblox from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Macquarie raised their target price on Roblox from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.52.

Roblox Stock Up 1.1%

NYSE:RBLX opened at $103.57 on Friday. The company has a market capitalization of $70.25 billion, a price-to-earnings ratio of -77.29 and a beta of 1.60. Roblox Corporation has a one year low of $35.30 and a one year high of $106.17. The stock has a 50-day simple moving average of $87.33 and a 200 day simple moving average of $70.37. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted ($0.43) earnings per share. Roblox’s quarterly revenue was up 30.6% compared to the same quarter last year. Sell-side analysts predict that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 6,868,857 shares of company stock valued at $604,140,707 in the last three months. Insiders own 12.92% of the company’s stock.

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.