PNC Financial Services Group Inc. Sells 1,118 Shares of Roblox Corporation (NYSE:RBLX)

PNC Financial Services Group Inc. reduced its holdings in shares of Roblox Corporation (NYSE:RBLX) by 13.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,899 shares of the company’s stock after selling 1,118 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Roblox were worth $402,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd grew its stake in shares of Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after acquiring an additional 240 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock valued at $34,000 after buying an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Roblox in the first quarter valued at $39,000. Colonial Trust Co SC bought a new position in shares of Roblox in the fourth quarter valued at $41,000. Finally, TD Private Client Wealth LLC bought a new position in shares of Roblox in the first quarter valued at $58,000. 94.46% of the stock is owned by institutional investors.

Insider Activity at Roblox

In related news, Director Anthony P. Lee sold 66,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $129.37, for a total transaction of $8,538,420.00. Following the completion of the transaction, the director directly owned 279,868 shares in the company, valued at $36,206,523.16. This represents a 19.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea L. Wong sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $130.40, for a total transaction of $752,408.00. Following the transaction, the director owned 41,891 shares of the company’s stock, valued at approximately $5,462,586.40. This represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,127,213 shares of company stock valued at $493,410,989. Company insiders own 12.92% of the company’s stock.

Roblox Trading Down 1.3%

Shares of NYSE:RBLX opened at $125.14 on Friday. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. Roblox Corporation has a 1 year low of $37.50 and a 1 year high of $150.59. The company has a market capitalization of $80.72 billion, a P/E ratio of -87.51 and a beta of 1.63. The business’s 50 day simple moving average is $112.53 and its 200 day simple moving average is $82.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The company’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.32) EPS. On average, research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on RBLX. BTIG Research set a $131.00 target price on shares of Roblox and gave the company a “buy” rating in a research note on Monday, July 28th. Bank of America raised their target price on shares of Roblox from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Benchmark raised their target price on shares of Roblox from $77.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Roblox from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Finally, Roth Mkm raised their target price on shares of Roblox from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $117.59.

About Roblox

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.