Must Asset Management Inc. reduced its holdings in Roblox Co. (NYSE:RBLX – Get Rating) by 85.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,987 shares of the company’s stock after selling 112,464 shares during the period. Roblox comprises about 0.6% of Must Asset Management Inc.’s holdings, making the stock its 15th largest holding. Must Asset Management Inc.’s holdings in Roblox were worth $671,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of RBLX. Renaissance Technologies LLC increased its holdings in shares of Roblox by 161.0% during the 2nd quarter. Renaissance Technologies LLC now owns 11,580,582 shares of the company’s stock valued at $380,538,000 after acquiring an additional 7,143,300 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Roblox by 88.5% in the 2nd quarter. Baillie Gifford & Co. now owns 14,783,016 shares of the company’s stock valued at $485,770,000 after buying an additional 6,941,347 shares during the last quarter. State Street Corp grew its holdings in Roblox by 2,473.0% in the 2nd quarter. State Street Corp now owns 6,586,856 shares of the company’s stock valued at $216,444,000 after buying an additional 6,330,861 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Roblox by 39.4% in the 1st quarter. Vanguard Group Inc. now owns 16,084,809 shares of the company’s stock worth $743,762,000 after acquiring an additional 4,546,253 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Roblox by 1,270.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 4,549,419 shares of the company’s stock worth $149,494,000 after acquiring an additional 4,217,398 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. DA Davidson cut their price objective on Roblox from $55.00 to $50.00 in a research report on Thursday, November 10th. The Goldman Sachs Group dropped their target price on Roblox from $24.00 to $19.00 and set a “sell” rating on the stock in a report on Thursday, January 19th. Moffett Nathanson began coverage on Roblox in a research report on Monday, October 3rd. They set an “underperform” rating and a $19.00 price target on the stock. Piper Sandler decreased their target price on Roblox from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. Finally, JPMorgan Chase & Co. downgraded Roblox from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $53.00 to $35.00 in a research report on Thursday, November 10th. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Roblox has a consensus rating of “Hold” and a consensus price target of $34.83.
Roblox Stock Performance
Shares of NYSE:RBLX traded down $2.21 during trading on Monday, reaching $35.54. 3,595,430 shares of the stock traded hands, compared to its average volume of 13,249,807. The stock has a 50-day moving average of $31.22 and a two-hundred day moving average of $37.40. Roblox Co. has a 52-week low of $21.65 and a 52-week high of $73.71. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.33.
Roblox (NYSE:RBLX – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). Roblox had a negative net margin of 35.12% and a negative return on equity of 145.60%. The company had revenue of $701.72 million for the quarter, compared to the consensus estimate of $694.88 million. Equities research analysts forecast that Roblox Co. will post -1.64 EPS for the current fiscal year.
Insider Activity
In related news, insider Craig Donato sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $37.31, for a total transaction of $74,620.00. Following the completion of the transaction, the insider now directly owns 1,168,941 shares of the company’s stock, valued at $43,613,188.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roblox news, insider Craig Donato sold 2,000 shares of Roblox stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $37.31, for a total value of $74,620.00. Following the completion of the transaction, the insider now directly owns 1,168,941 shares of the company’s stock, valued at approximately $43,613,188.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Guthrie sold 7,769 shares of Roblox stock in a transaction on Monday, November 21st. The stock was sold at an average price of $30.14, for a total transaction of $234,157.66. Following the completion of the transaction, the chief financial officer now directly owns 193,137 shares of the company’s stock, valued at $5,821,149.18. The disclosure for this sale can be found here. Insiders have sold 590,999 shares of company stock worth $18,791,858 in the last three months. Company insiders own 28.22% of the company’s stock.
About Roblox
Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.