Roblox Co. (NYSE:RBLX) Shares Sold by a16z Perennial Management L.P.

a16z Perennial Management L.P. trimmed its holdings in Roblox Co. (NYSE:RBLX - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,453 shares of the company's stock after selling 7,665 shares during the quarter. Roblox makes up about 1.4% of a16z Perennial Management L.P.'s holdings, making the stock its 11th biggest position. a16z Perennial Management L.P.'s holdings in Roblox were worth $13,623,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RBLX. ValueAct Holdings L.P. increased its holdings in shares of 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 acquiring an additional 7,835,921 shares during the period. FMR LLC grew its position in Roblox by 24.5% in the 3rd 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 grew its position in Roblox by 26.8% in the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock valued at $960,049,000 after buying an additional 3,507,901 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in Roblox in the 3rd quarter valued at $107,491,000. Finally, Two Sigma Advisers LP grew its position in Roblox by 32.9% in the 3rd quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company's stock valued at $259,576,000 after buying an additional 1,452,900 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 166,666 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $50.71, for a total value of $8,451,632.86. Following the completion of the transaction, the chief executive officer now owns 135,755 shares of the company's stock, valued at approximately $6,884,136.05. The trade was a 55.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,601 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $49.32, for a total transaction of $177,601.32. Following the completion of the transaction, the chief accounting officer now directly owns 81,407 shares of the company's stock, valued at $4,014,993.24. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,352,014 shares of company stock valued at $80,360,389. 22.15% of the stock is owned by insiders.

Roblox Price Performance

Shares of Roblox stock traded up $1.36 on Thursday, hitting $65.56. The company's stock had a trading volume of 7,816,457 shares, compared to its average volume of 9,516,449. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a fifty day moving average price of $63.30 and a 200-day moving average price of $51.30. The company has a market capitalization of $39.83 billion, a P/E ratio of -45.21 and a beta of 1.46.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 795.19%. On average, equities research analysts expect that Roblox Co. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RBLX shares. CICC Research started coverage on shares of Roblox in a research report on Tuesday, January 14th. They issued an "outperform" rating on the stock. Canaccord Genuity Group lifted their price objective 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. Benchmark lifted their price objective on shares of Roblox from $60.00 to $71.00 and gave the company a "buy" rating in a research report on Friday, February 7th. BMO Capital Markets reiterated an "outperform" rating and issued a $62.00 price objective (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Finally, Wedbush reiterated an "outperform" rating and issued a $83.00 price objective on shares of Roblox in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.19.

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.