Evolutionary Tree Capital Management LLC Buys Shares of 73,883 Roblox Co. (NYSE:RBLX)

Evolutionary Tree Capital Management LLC purchased a new stake in shares of Roblox Co. (NYSE:RBLX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 73,883 shares of the company's stock, valued at approximately $4,275,000. Roblox comprises 4.3% of Evolutionary Tree Capital Management LLC's investment portfolio, making the stock its 6th biggest holding.

A number of other hedge funds have also modified their holdings of the company. FMR LLC grew its position in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after purchasing an additional 18,715,837 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock worth $1,063,365,000 after buying an additional 17,312,325 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Roblox by 1,084.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock worth $278,500,000 after acquiring an additional 4,406,885 shares during the period. Ieq Capital LLC raised its position in Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock valued at $960,049,000 after acquiring an additional 3,507,901 shares in the last quarter. Finally, Norges Bank acquired a new position in Roblox in the fourth quarter valued at approximately $167,211,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Anthony P. Lee sold 250,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the completion of the transaction, the director now directly owns 6,254,137 shares in the company, valued at approximately $406,769,070.48. This represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 26,154 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the completion of the sale, the chief financial officer now owns 417,079 shares in the company, valued at approximately $27,502,189.26. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,232,833 shares of company stock valued at $76,827,466. 22.15% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RBLX. Oppenheimer raised shares of Roblox from a "market perform" rating to an "outperform" rating and set a $70.00 target price for the company in a report on Thursday, April 10th. Citigroup upped their price objective on shares of Roblox from $63.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their target price on shares of Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, January 10th. OTR Global upgraded Roblox from a "mixed" rating to a "positive" rating in a research note on Monday, February 3rd. Finally, Benchmark reiterated a "buy" rating and set a $71.00 price target on shares of Roblox in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.22.

Roblox Trading Up 3.3 %

NYSE:RBLX traded up $1.90 during trading hours on Tuesday, hitting $58.81. The company had a trading volume of 6,078,335 shares, compared to its average volume of 7,866,151. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $75.74. The company has a market cap of $36.96 billion, a P/E ratio of -40.56 and a beta of 1.49. The company has a 50-day moving average of $59.66 and a 200 day moving average of $56.45. 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 (NYSE:RBLX - Get Free Report) last announced its quarterly earnings data 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 expect that Roblox Co. will post -1.49 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.