Roblox Co. (NYSE:RBLX) Stake Decreased by ARK Investment Management LLC

ARK Investment Management LLC lowered its stake in shares of Roblox Co. (NYSE:RBLX) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,142,551 shares of the company’s stock after selling 1,698,859 shares during the quarter. Roblox accounts for 4.9% of ARK Investment Management LLC’s investment portfolio, making the stock its 5th biggest position. ARK Investment Management LLC’s holdings in Roblox were worth $586,848,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in RBLX. International Assets Investment Management LLC raised its position in shares of Roblox by 1,430.3% during the 3rd quarter. International Assets Investment Management LLC now owns 84,271 shares of the company’s stock valued at $3,730,000 after buying an additional 78,764 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of Roblox by 10.7% during the 3rd quarter. Forsta AP Fonden now owns 101,200 shares of the company’s stock valued at $4,479,000 after purchasing an additional 9,800 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Roblox by 266.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 34,851 shares of the company’s stock valued at $1,542,000 after purchasing an additional 25,333 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Roblox during the 3rd quarter valued at $434,000. Finally, Smith Group Asset Management LLC bought a new position in shares of Roblox during the 3rd quarter valued at $294,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Trading Down 2.6 %

Shares of RBLX opened at $59.46 on Wednesday. The firm’s 50-day moving average price is $63.99 and its 200-day moving average price is $52.89. The firm has a market capitalization of $36.81 billion, a price-to-earnings ratio of -41.01 and a beta of 1.46. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74.

Roblox (NYSE:RBLX) last issued 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 665.98%. Sell-side analysts anticipate that Roblox Co. will post -1.49 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on RBLX shares. Benchmark increased their target price on shares of Roblox from $60.00 to $71.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley increased their target price on shares of Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup increased their target price on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Roth Mkm increased their target price on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.19.

Insider Activity at Roblox

In related news, Director Anthony P. Lee sold 25,000 shares of Roblox stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $51.19, for a total transaction of $1,279,750.00. Following the completion of the transaction, the director now directly owns 5,706,695 shares of the company’s stock, valued at $292,125,717.05. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 6,448 shares of Roblox stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.33, for a total transaction of $395,455.84. Following the transaction, the chief executive officer now directly owns 122,853 shares of the company’s stock, valued at approximately $7,534,574.49. This trade represents a 4.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,090,297 shares of company stock valued at $67,514,814 in the last three months. Company insiders own 22.15% of the company’s stock.

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.