MIG Capital LLC Purchases New Shares in Roblox Co. (NYSE:RBLX)

MIG Capital LLC bought a new position in Roblox Co. (NYSE:RBLX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,714 shares of the company’s stock, valued at approximately $331,000.

Other large investors have also made changes to their positions in the company. Wealthfront Advisers LLC lifted its holdings in shares of Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after purchasing an additional 17,312,325 shares in the last quarter. ValueAct Holdings L.P. boosted its position in Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after acquiring an additional 7,835,921 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Roblox by 1,084.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock valued at $278,500,000 after purchasing an additional 4,406,885 shares during the period. Ieq Capital LLC boosted its holdings in shares of Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after purchasing an additional 3,507,901 shares during the period. Finally, Norges Bank acquired a new position in Roblox in the 4th quarter valued at approximately $167,211,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

Shares of Roblox stock opened at $52.84 on Friday. The firm has a market cap of $32.71 billion, a P/E ratio of -36.44 and a beta of 1.49. The firm’s 50-day simple moving average is $62.42 and its 200-day simple moving average is $55.93. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. As a group, research analysts expect that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, CAO Amy Marie Rawlings sold 5,879 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the sale, the chief accounting officer now directly owns 75,528 shares of the company’s stock, valued at approximately $4,909,320. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Reinstra sold 50,000 shares of Roblox stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $64.98, for a total transaction of $3,249,000.00. Following the completion of the transaction, the insider now owns 281,161 shares of the company’s stock, valued at $18,269,841.78. This trade represents a 15.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 947,666 shares of company stock worth $61,513,341 over the last three months. 22.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on RBLX. Roth Mkm boosted their price target on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Wells Fargo & Company increased their target price on shares of Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Needham & Company LLC raised their price objective on Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley increased their price target on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.23.

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.