GAMMA Investing LLC Buys 1,074 Shares of Roblox Corporation (NYSE:RBLX)

GAMMA Investing LLC grew its stake in shares of Roblox Corporation (NYSE:RBLX) by 89.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,274 shares of the company’s stock after acquiring an additional 1,074 shares during the period. GAMMA Investing LLC’s holdings in Roblox were worth $133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBLX. Smartleaf Asset Management LLC lifted its stake in Roblox by 105.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,099 shares of the company’s stock worth $123,000 after purchasing an additional 1,078 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Roblox by 3.5% during the 4th quarter. Jones Financial Companies Lllp now owns 14,039 shares of the company’s stock valued at $812,000 after buying an additional 475 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Roblox by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,147,841 shares of the company’s stock valued at $124,274,000 after buying an additional 132,497 shares in the last quarter. M&T Bank Corp raised its position in shares of Roblox by 2.2% during the 4th quarter. M&T Bank Corp now owns 20,539 shares of the company’s stock valued at $1,188,000 after buying an additional 434 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Roblox during the 4th quarter valued at $6,455,000. 94.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of Roblox from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. The Goldman Sachs Group boosted their price objective on shares of Roblox from $63.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Needham & Company LLC reissued a “buy” rating on shares of Roblox in a research note on Friday, May 2nd. BTIG Research lifted their target price on shares of Roblox from $73.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Finally, Wedbush raised shares of Roblox to a “strong-buy” rating in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.52.

Insider Activity at Roblox

In related news, insider Matthew D. Kaufman sold 6,000 shares of the company’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 sale, the insider owned 319,223 shares of the company’s stock, valued at $32,991,697.05. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 139,507 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the completion of the sale, the chief executive officer directly owned 211,559 shares in the company, valued at approximately $22,253,891.21. This represents a 39.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,868,857 shares of company stock valued at $604,140,707 over the last 90 days. 12.92% of the stock is owned by corporate insiders.

Roblox Stock Performance

RBLX opened at $103.57 on Friday. 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 company has a 50 day simple moving average of $88.07 and a two-hundred day simple moving average of $70.75. Roblox Corporation has a 1-year low of $35.30 and a 1-year high of $106.17. The firm has a market cap of $70.25 billion, a P/E ratio of -77.29 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its 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 during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned ($0.43) earnings per share. Roblox’s revenue for the quarter was up 30.6% on a year-over-year basis. Equities analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal 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.