Roblox Co. (NYSE:RBLX) Position Reduced by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its position in Roblox Co. (NYSE:RBLX) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 461,096 shares of the company’s stock after selling 133,373 shares during the period. Exchange Traded Concepts LLC’s holdings in Roblox were worth $26,679,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. ValueAct Holdings L.P. boosted its stake in shares of Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after buying an additional 7,835,921 shares during the period. FMR LLC lifted its holdings in Roblox by 24.5% in the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after purchasing an additional 4,115,286 shares during the last quarter. Dragoneer Investment Group LLC lifted its stake in shares of Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Roblox during the 3rd quarter worth $107,491,000. Finally, Greenvale Capital LLP bought a new position in Roblox in the 2nd quarter worth $89,304,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the subject of several research reports. The Goldman Sachs Group increased their price objective on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler boosted their target price on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.48.

Insider Buying and Selling at Roblox

In related news, CFO Michael Guthrie sold 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total value of $494,400.00. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $17,444,607.36. The trade was a 2.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 333,334 shares of Roblox stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $57.31, for a total value of $19,103,371.54. Following the completion of the transaction, the chief executive officer now owns 129,295 shares in the company, valued at approximately $7,409,896.45. This represents a 72.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,393,812 shares of company stock worth $78,488,813 over the last 90 days. Company insiders own 22.15% of the company’s stock.

Roblox Price Performance

NYSE:RBLX opened at $67.00 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a fifty day simple moving average of $58.12 and a 200 day simple moving average of $48.35. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $67.43. The stock has a market capitalization of $40.71 billion, a PE ratio of -40.88 and a beta of 1.43.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned ($0.45) EPS. Roblox’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts expect that Roblox Co. will post -1.56 EPS for the current fiscal 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.