a16z Perennial Management L.P. Decreases Stock Position in Roblox Co. (NYSE:RBLX)

a16z Perennial Management L.P. lessened its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 23.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 243,118 shares of the company's stock after selling 75,159 shares during the period. Roblox comprises about 1.3% of a16z Perennial Management L.P.'s holdings, making the stock its 8th biggest position. a16z Perennial Management L.P.'s holdings in Roblox were worth $10,760,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its stake in Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company's stock valued at $2,318,000 after acquiring an additional 1,419 shares during the period. Dragoneer Investment Group LLC lifted its stake in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company's stock valued at $437,039,000 after buying an additional 2,488,044 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in Roblox by 41.4% in the 1st quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company's stock worth $423,000 after buying an additional 3,247 shares during the period. Itau Unibanco Holding S.A. grew its stake in Roblox by 62.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company's stock valued at $1,395,000 after buying an additional 14,348 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Roblox by 18.3% during the 1st quarter. Sei Investments Co. now owns 288,112 shares of the company's stock valued at $11,000,000 after acquiring an additional 44,557 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares of the company's stock, valued at $4,019,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Amy Marie Rawlings sold 4,933 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now owns 342,656 shares in the company, valued at $13,706,240. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 779,341 shares of company stock worth $33,831,012 over the last quarter. Company insiders own 22.15% of the company's stock.

Roblox Trading Up 0.8 %

Shares of NYSE RBLX traded up $0.32 during midday trading on Tuesday, hitting $42.62. 5,485,366 shares of the company traded hands, compared to its average volume of 7,241,100. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $48.43. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day moving average price of $43.32 and a 200 day moving average price of $39.09. The firm has a market cap of $25.51 billion, a P/E ratio of -24.60 and a beta of 1.60.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. The company had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. Roblox's revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the company earned ($0.46) EPS. As a group, analysts expect that Roblox Co. will post -1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RBLX shares. BMO Capital Markets reiterated an "outperform" rating and set a $56.00 price objective on shares of Roblox in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their price objective on shares of Roblox from $38.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Piper Sandler upped their target price on shares of Roblox from $48.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Barclays raised their price target on shares of Roblox from $35.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. Finally, Roth Mkm increased their price objective on Roblox from $35.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.

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.