SP Asset Management LLC Trims Stock Position in Roblox Co. (NYSE:RBLX)

SP Asset Management LLC cut its holdings in Roblox Co. (NYSE:RBLX) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,940 shares of the company’s stock after selling 1,600 shares during the period. SP Asset Management LLC’s holdings in Roblox were worth $691,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RBLX. ValueAct Holdings L.P. increased its stake in 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. Ieq Capital LLC increased its position in Roblox by 26.8% in the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after buying an additional 3,507,901 shares during the period. Whale Rock Capital Management LLC acquired a new position in Roblox during the 3rd quarter worth $107,491,000. Finally, Two Sigma Advisers LP grew its stake in shares of Roblox by 32.9% in the 3rd quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock worth $259,576,000 after purchasing an additional 1,452,900 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RBLX shares. Wedbush reissued an “outperform” rating and set a $83.00 target price on shares of Roblox in a research note on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $72.00 price target (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. CICC Research began coverage on Roblox in a research note on Tuesday, January 14th. They issued an “outperform” rating on the stock. Wells Fargo & Company lifted their price objective on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Barclays dropped their price objective on Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.19.

Insider Buying and Selling

In related news, insider Arvind Chakravarthy sold 982 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $61.26, for a total value of $60,157.32. Following the completion of the sale, the insider now owns 204,261 shares in the company, valued at $12,513,028.86. This represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the sale, the insider now directly owns 278,161 shares in the company, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 911,255 shares of company stock valued at $59,387,678. Insiders own 22.15% of the company’s stock.

Roblox Price Performance

Shares of NYSE RBLX opened at $63.35 on Thursday. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The business’s fifty day moving average price is $64.31 and its two-hundred day moving average price is $53.75. The firm has a market capitalization of $39.22 billion, a PE ratio of -43.69 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. On average, research analysts expect that Roblox Co. will post -1.49 EPS 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.