Cetera Investment Advisers Raises Holdings in Roblox Corporation (NYSE:RBLX)

Cetera Investment Advisers raised its stake in Roblox Corporation (NYSE:RBLX) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,183 shares of the company’s stock after buying an additional 3,296 shares during the quarter. Cetera Investment Advisers’ holdings in Roblox were worth $1,993,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd lifted its stake in shares of 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 during the last quarter. Larson Financial Group LLC lifted its stake in shares of Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock valued at $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Roblox in the 1st quarter valued at $39,000. Colonial Trust Co SC acquired a new position in shares of Roblox in the 4th quarter valued at $41,000. Finally, TD Private Client Wealth LLC acquired a new position in shares of Roblox in the 1st quarter valued at $58,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Roblox

In other news, CEO David Baszucki sold 687,500 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $87.97, for a total value of $60,479,375.00. Following the transaction, the chief executive officer owned 211,559 shares in the company, valued at approximately $18,610,845.23. This represents a 76.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 5,441,460 shares of company stock valued at $517,140,722. Corporate insiders own 12.92% of the company’s stock.

Wall Street Analyst Weigh In

RBLX has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on Roblox from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Piper Sandler upped their price target on Roblox from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Needham & Company LLC upped their price target on Roblox from $79.00 to $159.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Canaccord Genuity Group increased their target price on Roblox from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group increased their target price on Roblox from $63.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.59.

Roblox Price Performance

RBLX stock opened at $128.75 on Friday. Roblox Corporation has a 1 year low of $36.77 and a 1 year high of $150.59. The firm has a market capitalization of $83.05 billion, a P/E ratio of -90.03 and a beta of 1.63. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day moving average is $109.58 and its two-hundred day moving average is $80.80.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The company’s revenue was up 50.5% compared to the same quarter last year. Analysts anticipate 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.