Jacobs Levy Equity Management Inc. Boosts Position in Roblox Co. (NYSE:RBLX)

Jacobs Levy Equity Management Inc. lifted its stake in shares of Roblox Co. (NYSE:RBLX) by 5,922.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 668,945 shares of the company’s stock after acquiring an additional 657,837 shares during the period. Jacobs Levy Equity Management Inc. owned 0.11% of Roblox worth $25,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC lifted its position in Roblox by 7.8% in the fourth quarter. Global Retirement Partners LLC now owns 4,423 shares of the company’s stock valued at $202,000 after buying an additional 320 shares during the last quarter. Mystic Asset Management Inc. lifted its position in Roblox by 4.0% in the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock valued at $326,000 after buying an additional 325 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Roblox by 0.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,996 shares of the company’s stock worth $4,297,000 after purchasing an additional 458 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Roblox by 98.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after purchasing an additional 548 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Roblox by 35.0% during the first quarter. Lindbrook Capital LLC now owns 2,210 shares of the company’s stock worth $84,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RBLX shares. Moffett Nathanson upgraded shares of Roblox from a “sell” rating to a “neutral” rating and cut their target price for the stock from $31.00 to $26.00 in a research note on Friday, May 10th. Wedbush reissued an “outperform” rating and issued a $46.00 price objective on shares of Roblox in a report on Monday. The Goldman Sachs Group decreased their price objective on Roblox from $48.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, May 13th. BTIG Research decreased their price objective on Roblox from $54.00 to $46.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. raised Roblox from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $48.00 in a report on Tuesday, April 23rd. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average price target of $42.91.

Insider Buying and Selling

In related news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the completion of the sale, the chief executive officer now owns 142,260 shares in the company, valued at approximately $5,720,274.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Roblox news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $40.21, for a total value of $6,701,720.28. Following the completion of the sale, the chief executive officer now owns 142,260 shares in the company, valued at approximately $5,720,274.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total value of $525,850.00. Following the completion of the sale, the director now owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 476,889 shares of company stock worth $17,575,955. 22.15% of the stock is owned by corporate insiders.

Roblox Price Performance

Roblox stock traded up $0.46 during midday trading on Tuesday, reaching $41.03. The company’s stock had a trading volume of 5,575,314 shares, compared to its average volume of 7,347,717. Roblox Co. has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The firm has a market capitalization of $24.26 billion, a PE ratio of -22.09 and a beta of 1.59. The stock’s 50 day simple moving average is $36.88 and its 200 day simple moving average is $38.05. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The business had revenue of $923.76 million during the quarter, compared to analysts’ expectations of $918.85 million. During the same quarter last year, the business posted ($0.44) earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities research analysts forecast that Roblox Co. will post -1.66 earnings per share for the current year.

Roblox 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.