Federated Hermes Inc. Boosts Stake in Roblox Corporation (NYSE:RBLX)

Federated Hermes Inc. lifted its holdings in shares of Roblox Corporation (NYSE:RBLX) by 48.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,598,467 shares of the company’s stock after acquiring an additional 524,690 shares during the quarter. Federated Hermes Inc. owned 0.25% of Roblox worth $93,175,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Roblox by 15.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company’s stock valued at $2,096,000 after purchasing an additional 4,760 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Roblox in the first quarter valued at about $890,000. IFM Investors Pty Ltd raised its stake in Roblox by 7.2% during the first quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company’s stock valued at $5,370,000 after buying an additional 6,180 shares in the last quarter. Montag A & Associates Inc. raised its stake in Roblox by 1,193.7% during the first quarter. Montag A & Associates Inc. now owns 26,934 shares of the company’s stock valued at $1,570,000 after buying an additional 24,852 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV bought a new position in Roblox during the 1st quarter worth approximately $280,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Buying and Selling

In other news, CEO David Baszucki sold 1,375,002 shares of the company’s stock in a transaction that occurred 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 directly owned 221,983 shares of the company’s stock, valued at approximately $16,024,952.77. This represents a 86.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 6,651,690 shares of company stock worth $593,440,562. 12.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RBLX shares. Citigroup boosted their price target on Roblox from $123.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Morgan Stanley lowered their target price on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Macquarie raised their price target on shares of Roblox from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $125.00 price target (up from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Finally, Wedbush increased their price objective on shares of Roblox from $110.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.27.

Roblox Stock Down 2.3%

Shares of Roblox stock opened at $118.13 on Wednesday. Roblox Corporation has a 1-year low of $35.30 and a 1-year high of $127.99. The company has a market capitalization of $80.12 billion, a P/E ratio of -88.15 and a beta of 1.60. The business’s fifty day moving average price is $102.20 and its two-hundred day moving average price is $77.27. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The company’s revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) earnings per share. As a group, research analysts forecast that Roblox Corporation will post -1.49 EPS for the current 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.