PNC Financial Services Group Inc. Has $402,000 Position in Roblox Corporation (NYSE:RBLX)

PNC Financial Services Group Inc. lowered its position in Roblox Corporation (NYSE:RBLX) by 13.9% in the 1st quarter, HoldingsChannel.com reports. 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 quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RBLX. Durable Capital Partners LP acquired a new position in shares of Roblox in the fourth quarter valued at approximately $246,560,000. Ninety One UK Ltd acquired a new position in shares of Roblox in the first quarter valued at approximately $137,379,000. Whale Rock Capital Management LLC increased its stake in shares of Roblox by 95.8% in the fourth quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company’s stock valued at $275,137,000 after buying an additional 2,326,588 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Roblox by 210.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,256,815 shares of the company’s stock valued at $189,840,000 after acquiring an additional 2,207,897 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Roblox by 161.8% in the fourth quarter. Voloridge Investment Management LLC now owns 2,555,844 shares of the company’s stock valued at $147,881,000 after acquiring an additional 1,579,625 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Anthony P. Lee sold 66,000 shares of Roblox stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $129.37, for a total transaction of $8,538,420.00. Following the sale, the director directly owned 279,868 shares in the company, valued at $36,206,523.16. The trade was a 19.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $133.67, for a total value of $802,020.00. Following the sale, the insider owned 301,223 shares in the company, valued at $40,264,478.41. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,127,213 shares of company stock valued at $493,410,989. 12.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup upped their target price on Roblox from $123.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their target price on Roblox from $116.00 to $153.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Oppenheimer reiterated an “outperform” rating and issued a $125.00 target price (up from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Barclays upped their target price on Roblox from $62.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Finally, Canaccord Genuity Group upped their target price on Roblox from $125.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average price target of $117.59.

Roblox Trading Down 1.3%

NYSE RBLX opened at $125.14 on Friday. The stock has a market capitalization of $80.72 billion, a price-to-earnings ratio of -87.51 and a beta of 1.63. Roblox Corporation has a one year low of $37.50 and a one year high of $150.59. 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 fifty day moving average is $112.53 and its 200-day moving average is $82.49.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. Equities research analysts predict that Roblox Corporation will post -1.49 EPS for the current year.

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.