Roblox Co. (NYSE:RBLX) Shares Acquired by Foxhaven Asset Management LP

Foxhaven Asset Management LP raised its holdings in shares of Roblox Co. (NYSE:RBLX) by 45.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,009,254 shares of the company’s stock after buying an additional 945,811 shares during the period. Roblox comprises 4.7% of Foxhaven Asset Management LP’s portfolio, making the stock its 11th largest holding. Foxhaven Asset Management LP’s holdings in Roblox were worth $174,115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RBLX. Colonial Trust Co SC acquired a new stake in Roblox during the fourth quarter valued at approximately $41,000. Parkside Financial Bank & Trust increased its holdings in shares of Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after acquiring an additional 230 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after acquiring an additional 195 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Roblox by 188.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock valued at $56,000 after acquiring an additional 633 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after purchasing an additional 271 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Macquarie increased their target price on shares of Roblox from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Barclays raised their target price on shares of Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. FBN Securities started coverage on Roblox in a report on Friday, March 28th. They set a “sector perform” rating and a $65.00 target price for the company. Benchmark boosted their price objective on Roblox from $71.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group upped their price objective on Roblox from $55.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.91.

Insider Buying and Selling

In other Roblox news, CFO Michael Guthrie sold 26,154 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the completion of the sale, the chief financial officer now directly owns 417,079 shares of the company’s stock, valued at approximately $27,502,189.26. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Reinstra sold 19,525 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,287,478.50. Following the completion of the transaction, the insider now owns 339,206 shares of the company’s stock, valued at approximately $22,367,243.64. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,164,386 shares of company stock worth $146,492,013. Corporate insiders own 22.15% of the company’s stock.

Roblox Trading Up 2.6 %

Shares of Roblox stock opened at $71.89 on Friday. The business has a fifty day simple moving average of $60.65 and a 200-day simple moving average of $59.42. Roblox Co. has a fifty-two week low of $30.56 and a fifty-two week high of $75.74. The firm has a market cap of $45.18 billion, a price-to-earnings ratio of -49.58 and a beta of 1.46. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last issued its quarterly earnings results 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Roblox’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.43) EPS. On average, equities analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal 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.