Readystate Asset Management LP Decreases Stock Holdings in Roblox Co. (NYSE:RBLX)

Readystate Asset Management LP lowered its stake in Roblox Co. (NYSE:RBLX - Free Report) by 48.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,998 shares of the company's stock after selling 339,756 shares during the period. Readystate Asset Management LP owned 0.06% of Roblox worth $16,155,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its position in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company's stock worth $926,924,000 after purchasing an additional 4,115,286 shares during the last quarter. Dragoneer Investment Group LLC increased its position in 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 purchasing an additional 2,488,044 shares during the period. Greenvale Capital LLP bought a new position in Roblox during the 2nd quarter worth approximately $89,304,000. Marshall Wace LLP acquired a new position in shares of Roblox in the 2nd quarter worth approximately $87,543,000. Finally, ARK Investment Management LLC increased its position in shares of Roblox by 12.9% during the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company's stock worth $496,338,000 after buying an additional 1,519,591 shares during the period. Institutional investors and hedge funds own 91.08% of the company's stock.

Insider Activity at Roblox

In other news, CFO Michael Guthrie sold 3,443 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.01, for a total transaction of $154,969.43. Following the sale, the chief financial officer now owns 352,844 shares in the company, valued at approximately $15,881,508.44. The trade was a 0.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the sale, the chief accounting officer now owns 91,062 shares in the company, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,038,607 shares of company stock worth $49,713,872 over the last quarter. Corporate insiders own 22.15% of the company's stock.

Roblox Price Performance

Shares of RBLX stock traded up $3.06 during trading hours on Thursday, hitting $57.60. 13,503,210 shares of the company's stock were exchanged, compared to its average volume of 7,620,837. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $59.09. The company has a market capitalization of $34.99 billion, a PE ratio of -35.73 and a beta of 1.50. The business's 50 day simple moving average is $46.75 and its 200-day simple moving average is $41.96.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on RBLX. Barclays increased their price target on Roblox from $40.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Wedbush reiterated an "outperform" rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Piper Sandler boosted their target price on shares of Roblox from $54.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. BTIG Research boosted their target price on shares of Roblox from $51.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Needham & Company LLC boosted their target price on shares of Roblox from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.30.

Roblox Profile

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.