Roblox Corporation (NYSE:RBLX) Stake Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Roblox Corporation (NYSE:RBLX) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,483 shares of the company’s stock after buying an additional 4,760 shares during the period. 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.

A number of other hedge funds also recently made changes to their positions in the business. Perpetual Ltd raised its holdings in Roblox by 127.8% during the first quarter. Perpetual Ltd now owns 35,962 shares of the company’s stock worth $2,096,000 after purchasing an additional 20,176 shares in the last quarter. Atala Financial Inc increased its holdings in shares of Roblox by 0.6% in the first quarter. Atala Financial Inc now owns 50,403 shares of the company’s stock valued at $2,941,000 after buying an additional 292 shares in the last quarter. KG&L Capital Management LLC increased its holdings in shares of Roblox by 8.9% in the first quarter. KG&L Capital Management LLC now owns 10,991 shares of the company’s stock valued at $641,000 after buying an additional 900 shares in the last quarter. Western Financial Corp CA bought a new position in shares of Roblox in the first quarter valued at $1,114,000. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Roblox by 19.0% in the first quarter. Sequoia Financial Advisors LLC now owns 5,148 shares of the company’s stock valued at $300,000 after buying an additional 823 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Trading Up 1.1%

Roblox stock opened at $103.57 on Friday. The company’s fifty day simple moving average is $87.33 and its 200-day simple moving average is $70.37. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39. Roblox Corporation has a 12 month low of $35.30 and a 12 month high of $106.17. The stock 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 posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company posted ($0.43) EPS. Roblox’s revenue was up 30.6% on a year-over-year basis. As a group, sell-side analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction on Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the sale, the chief executive officer owned 221,983 shares of the company’s stock, valued at approximately $16,024,952.77. The trade was a 86.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 6,868,857 shares of company stock worth $604,140,707. Insiders own 12.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RBLX shares. JPMorgan Chase & Co. upped their price target on Roblox from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target (up previously from $85.00) on shares of Roblox in a report on Thursday, June 5th. Wells Fargo & Company upped their price target on Roblox from $78.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, June 27th. Bank of America upped their price target on Roblox from $86.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, June 5th. Finally, Roth Mkm lifted their price objective on shares of Roblox from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average target price of $83.52.

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.