Roblox Co. (NYSE:RBLX) Stake Trimmed by a16z Perennial Management L.P.

a16z Perennial Management L.P. lessened its holdings in Roblox Co. (NYSE:RBLX) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,453 shares of the company’s stock after selling 7,665 shares during the period. Roblox makes up approximately 1.6% of a16z Perennial Management L.P.’s portfolio, making the stock its 8th largest position. a16z Perennial Management L.P.’s holdings in Roblox were worth $13,623,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. ValueAct Holdings L.P. raised its holdings in shares of Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after purchasing an additional 7,835,921 shares in the last quarter. FMR LLC increased its holdings in Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after buying an additional 4,115,286 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Roblox in the third quarter valued at $107,491,000. Two Sigma Advisers LP lifted its holdings in Roblox by 32.9% during the 3rd quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock worth $259,576,000 after buying an additional 1,452,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Roblox by 195.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,852,131 shares of the company’s stock worth $81,975,000 after acquiring an additional 1,226,072 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

Shares of RBLX stock opened at $66.41 on Monday. The stock has a 50 day simple moving average of $62.47 and a 200-day simple moving average of $50.76. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $75.74. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 795.19%. Equities research analysts expect that Roblox Co. will post -1.4 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Guthrie sold 40,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $52.07, for a total value of $2,082,800.00. Following the completion of the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at approximately $18,372,587.08. The trade was a 10.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 333,334 shares of Roblox stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $57.31, for a total transaction of $19,103,371.54. Following the completion of the sale, the chief executive officer now directly owns 129,295 shares of the company’s stock, valued at $7,409,896.45. The trade was a 72.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,306,335 shares of company stock worth $77,348,316 over the last 90 days. 22.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBLX. Roth Mkm boosted their target price on Roblox from $54.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Moffett Nathanson downgraded shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective for the company. in a research report on Friday. Raymond James reiterated a “strong-buy” rating and set a $60.00 price target on shares of Roblox in a research note on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $72.00 price objective (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Finally, Morgan Stanley lifted their target price on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.19.

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.