ARK Investment Management LLC Sells 1,497,419 Shares of Roblox Co. (NYSE:RBLX)

ARK Investment Management LLC cut its holdings in shares of Roblox Co. (NYSE:RBLX - Free Report) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,841,410 shares of the company's stock after selling 1,497,419 shares during the period. Roblox accounts for approximately 4.8% of ARK Investment Management LLC's holdings, making the stock its 4th biggest holding. ARK Investment Management LLC owned about 1.98% of Roblox worth $524,101,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Roblox in the 3rd quarter valued at about $27,000. PARK CIRCLE Co bought a new stake in shares of Roblox in the 2nd quarter valued at about $30,000. GAMMA Investing LLC increased its stake in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company's stock valued at $41,000 after acquiring an additional 530 shares during the last quarter. Gilliland Jeter Wealth Management LLC increased its stake in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company's stock valued at $37,000 after acquiring an additional 506 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Roblox in the 1st quarter valued at about $39,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Roblox Stock Performance

Roblox stock traded down $0.71 during mid-day trading on Friday, hitting $52.40. 8,160,448 shares of the company's stock traded hands, compared to its average volume of 7,488,194. The firm has a 50 day simple moving average of $44.30 and a two-hundred day simple moving average of $39.77. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $54.07. The stock has a market cap of $31.84 billion, a price-to-earnings ratio of -32.01 and a beta of 1.56. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted ($0.45) EPS. The company's quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts expect that Roblox Co. will post -1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on RBLX shares. Piper Sandler increased their target price on Roblox from $54.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Barclays increased their target price on Roblox from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. BTIG Research increased their target price on Roblox from $51.00 to $56.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Roblox from $51.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group increased their target price on Roblox from $45.00 to $55.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.30.

Insider Transactions at Roblox

In other news, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the sale, the chief accounting officer now owns 91,062 shares of the company's stock, valued at approximately $4,817,179.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amy Marie Rawlings sold 2,186 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at approximately $4,817,179.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the transaction, the director now owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,029,373 shares of company stock valued at $46,476,179. 22.15% of the stock is currently owned by corporate insiders.

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.