Westfield Capital Management Co. LP Has $37.41 Million Stock Holdings in Roblox Corporation $RBLX

Westfield Capital Management Co. LP decreased its holdings in Roblox Corporation (NYSE:RBLX) by 61.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 461,670 shares of the company’s stock after selling 727,905 shares during the period. Westfield Capital Management Co. LP’s holdings in Roblox were worth $37,409,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vise Technologies Inc. raised its stake in shares of Roblox by 16.7% in the 4th quarter. Vise Technologies Inc. now owns 10,506 shares of the company’s stock valued at $851,000 after buying an additional 1,505 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Roblox by 6.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 73,477 shares of the company’s stock valued at $5,954,000 after buying an additional 4,448 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Roblox by 12.6% in the 4th quarter. Lido Advisors LLC now owns 10,072 shares of the company’s stock valued at $816,000 after buying an additional 1,127 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Roblox by 6.4% in the 4th quarter. Sivia Capital Partners LLC now owns 16,493 shares of the company’s stock valued at $1,336,000 after buying an additional 992 shares in the last quarter. Finally, WCG Wealth Advisors LLC acquired a new position in shares of Roblox in the 4th quarter valued at $1,887,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wedbush cut shares of Roblox from a “hold” rating to a “neutral” rating in a research note on Friday, May 1st. The Goldman Sachs Group lowered their target price on shares of Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, May 1st. UBS Group lowered their target price on shares of Roblox from $74.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Raymond James Financial lowered shares of Roblox from an “outperform” rating to a “market perform” rating in a report on Friday, May 1st. Finally, Barclays lowered their target price on shares of Roblox from $115.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.07.

Roblox Stock Down 3.3%

Shares of NYSE:RBLX opened at $41.92 on Friday. Roblox Corporation has a 12 month low of $40.15 and a 12 month high of $150.59. The company’s 50-day moving average price is $51.24 and its two-hundred day moving average price is $67.43. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.45. The firm has a market cap of $28.15 billion, a P/E ratio of -26.53 and a beta of 1.44.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. Roblox’s revenue was up 43.4% on a year-over-year basis. As a group, research analysts forecast that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 9.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Roblox

In related news, insider Matthew D. Kaufman sold 14,356 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total value of $649,896.12. Following the completion of the transaction, the insider owned 349,964 shares in the company, valued at $15,842,870.28. The trade was a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $57.95, for a total transaction of $965,794.70. Following the completion of the transaction, the director directly owned 1,302,834 shares in the company, valued at $75,499,230.30. This trade represents a 1.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 183,471 shares of company stock worth $8,930,068 over the last ninety days. 10.05% of the stock is currently owned by insiders.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.