Maryland State Retirement & Pension System Sells 3,732 Shares of Roblox Corporation (NYSE:RBLX)

Maryland State Retirement & Pension System lessened its holdings in shares of Roblox Corporation (NYSE:RBLX) by 13.2% during the first quarter, Holdings Channel reports. The firm owned 24,549 shares of the company’s stock after selling 3,732 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Roblox were worth $1,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd lifted its holdings in Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after buying an additional 240 shares during the period. Larson Financial Group LLC raised its position in shares of Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock worth $34,000 after acquiring an additional 516 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Roblox in the 1st quarter worth approximately $39,000. Colonial Trust Co SC purchased a new position in shares of Roblox in the 4th quarter valued at approximately $41,000. Finally, Headlands Technologies LLC bought a new stake in shares of Roblox during the first quarter valued at approximately $57,000. Institutional investors own 94.46% of the company’s stock.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 687,500 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the completion of the sale, the chief executive officer owned 211,559 shares of the company’s stock, valued at $18,610,845.23. This represents a 76.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 5,441,460 shares of company stock valued at $517,140,722 over the last 90 days. Company insiders own 12.92% of the company’s stock.

Analyst Ratings Changes

RBLX has been the subject of several recent research reports. Canaccord Genuity Group raised their price objective on Roblox from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. BTIG Research set a $131.00 price target on shares of Roblox and gave the company a “buy” rating in a research report on Monday, July 28th. BMO Capital Markets upped their price objective on shares of Roblox from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Piper Sandler lifted their target price on shares of Roblox from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Roblox from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Roblox has an average rating of “Moderate Buy” and an average target price of $117.59.

Roblox Trading Down 0.7%

Shares of RBLX stock opened at $128.75 on Friday. The stock has a market capitalization of $83.05 billion, a P/E ratio of -90.03 and a beta of 1.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The firm’s 50 day moving average is $109.58 and its 200 day moving average is $80.90. Roblox Corporation has a 12-month low of $36.77 and a 12-month high of $150.59.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The business’s quarterly revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. Research analysts expect that Roblox Corporation will post -1.49 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.