Roblox Co. (NYSE:RBLX) Position Lessened by ARK Investment Management LLC

ARK Investment Management LLC cut its stake in Roblox Co. (NYSE:RBLX) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,906,173 shares of the company’s stock after selling 67,708 shares during the quarter. Roblox comprises about 3.2% of ARK Investment Management LLC’s portfolio, making the stock its 7th biggest position. ARK Investment Management LLC’s holdings in Roblox were worth $544,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Resurgent Financial Advisors LLC purchased a new position in shares of Roblox in the 4th quarter valued at $25,000. 1832 Asset Management L.P. purchased a new position in Roblox during the 1st quarter worth $32,000. Penserra Capital Management LLC purchased a new position in Roblox during the 4th quarter worth $43,000. High Net Worth Advisory Group LLC grew its stake in Roblox by 900.0% during the 1st quarter. High Net Worth Advisory Group LLC now owns 1,000 shares of the company’s stock worth $46,000 after buying an additional 900 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its stake in Roblox by 23.4% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,127 shares of the company’s stock worth $62,000 after buying an additional 403 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RBLX has been the topic of several research analyst reports. Needham & Company LLC boosted their target price on Roblox from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Roth Mkm boosted their price target on Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Benchmark reiterated a “buy” rating and set a $46.00 price target on shares of Roblox in a research note on Tuesday, January 23rd. BMO Capital Markets boosted their price target on Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group upgraded Roblox from a “sell” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $48.00 in a research note on Thursday, February 8th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average price target of $46.25.

Insider Activity

In related news, insider Mark Reinstra sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $36.50, for a total value of $146,000.00. Following the completion of the sale, the insider now owns 359,453 shares of the company’s stock, valued at approximately $13,120,034.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Roblox news, CFO Michael Guthrie sold 10,972 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $445,902.08. Following the transaction, the chief financial officer now owns 233,629 shares in the company, valued at approximately $9,494,682.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Reinstra sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $36.50, for a total transaction of $146,000.00. Following the transaction, the insider now owns 359,453 shares in the company, valued at $13,120,034.50. The disclosure for this sale can be found here. Insiders have sold 564,707 shares of company stock worth $24,131,807 in the last quarter. Corporate insiders own 27.67% of the company’s stock.

Roblox Trading Up 1.6 %

Shares of Roblox stock opened at $37.89 on Thursday. Roblox Co. has a fifty-two week low of $24.88 and a fifty-two week high of $47.65. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. The firm has a 50-day simple moving average of $40.46 and a two-hundred day simple moving average of $37.68.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm posted ($0.48) EPS. Roblox’s quarterly revenue was up 25.3% compared to the same quarter last year. Equities research analysts forecast that Roblox Co. will post -2.1 earnings per share for the current 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.