ValueAct Holdings L.P. Increases Stake in Roblox Co. (NYSE:RBLX)

ValueAct Holdings L.P. lifted its holdings in shares of Roblox Co. (NYSE:RBLX - Free Report) by 340.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,135,921 shares of the company's stock after purchasing an additional 7,835,921 shares during the quarter. Roblox comprises approximately 10.3% of ValueAct Holdings L.P.'s investment portfolio, making the stock its 4th biggest position. ValueAct Holdings L.P. owned 1.67% of Roblox worth $448,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Impact Partnership Wealth LLC lifted its stake in Roblox by 3.8% during the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company's stock worth $298,000 after purchasing an additional 245 shares in the last quarter. Swedbank AB lifted its stake in Roblox by 0.5% during the 2nd quarter. Swedbank AB now owns 53,297 shares of the company's stock worth $1,983,000 after acquiring an additional 285 shares in the last quarter. Metis Global Partners LLC lifted its stake in Roblox by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company's stock worth $266,000 after acquiring an additional 288 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Roblox by 5.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company's stock valued at $296,000 after acquiring an additional 321 shares during the period. Finally, Atomi Financial Group Inc. grew its position in Roblox by 0.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 136,658 shares of the company's stock valued at $6,048,000 after acquiring an additional 380 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on RBLX shares. Macquarie raised their price target on shares of Roblox from $50.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BTIG Research boosted 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. Needham & Company LLC upped their price target on Roblox from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Roblox from $45.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, Piper Sandler upped their target price on shares of Roblox from $54.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Roblox has an average rating of "Moderate Buy" and an average price target of $55.30.

Insider Transactions at Roblox

In other news, CAO Amy Marie Rawlings sold 2,186 shares of the company's 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 directly owns 91,062 shares in the company, valued at $4,817,179.80. This represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Anthony P. Lee sold 25,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $51.19, for a total value of $1,279,750.00. Following the sale, the director now owns 5,706,695 shares of the company's stock, valued at $292,125,717.05. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,038,607 shares of company stock worth $49,713,872 over the last ninety days. 22.15% of the stock is currently owned by corporate insiders.

Roblox Price Performance

Shares of Roblox stock traded up $0.37 during trading on Friday, reaching $59.31. The company's stock had a trading volume of 8,964,106 shares, compared to its average volume of 8,441,662. The business has a 50 day moving average price of $47.34 and a 200-day moving average price of $42.33. The company has a market capitalization of $36.03 billion, a P/E ratio of -36.16 and a beta of 1.50. The company has a quick ratio of 0.98, a current 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 $59.80.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. The firm's revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Roblox Co. will post -1.56 EPS 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.