Washington Harbour Partners LP Lowers Stock Position in Roblox Co. (NYSE:RBLX)

Washington Harbour Partners LP lessened its holdings in shares of Roblox Co. (NYSE:RBLX - Free Report) by 56.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,600 shares of the company's stock after selling 44,000 shares during the period. Roblox comprises 2.7% of Washington Harbour Partners LP's holdings, making the stock its 18th largest holding. Washington Harbour Partners LP's holdings in Roblox were worth $1,531,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RBLX. Entropy Technologies LP boosted its position in shares of Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company's stock worth $4,410,000 after acquiring an additional 62,521 shares in the last quarter. Dragoneer Investment Group LLC lifted its stake in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company's stock worth $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Roblox by 12,971.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company's stock valued at $2,302,000 after purchasing an additional 51,626 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of 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 purchasing an additional 14,348 shares during the last quarter. Finally, FMR LLC lifted its position in shares of 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 buying an additional 4,115,286 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Roblox from $54.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Barclays increased their price objective on Roblox from $40.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Macquarie upped their price target on Roblox from $50.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on Roblox from $51.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price objective on Roblox from $45.00 to $55.00 and gave the company a "neutral" 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and a consensus target price of $55.30.

Insider Buying and Selling at Roblox

In related news, CAO Amy Marie Rawlings sold 2,186 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares of the company's stock, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Manuel Bronstein sold 15,380 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.00, for a total value of $692,100.00. Following the completion of the transaction, the insider now directly owns 712,105 shares of the company's stock, valued at $32,044,725. The trade was a 2.11 % decrease in their ownership of the stock. 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 three months. 22.15% of the stock is currently owned by insiders.

Roblox Stock Up 0.6 %

RBLX stock traded up $0.37 during trading on Friday, reaching $59.31. The stock had a trading volume of 8,949,818 shares, compared to its average volume of 7,659,294. Roblox Co. has a one year low of $29.55 and a one year high of $59.80. The company's 50 day moving average is $47.03 and its two-hundred day moving average is $42.08. 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 company has a market capitalization of $36.03 billion, a price-to-earnings ratio of -35.95 and a beta of 1.50.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analysts' expectations of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. Equities research analysts forecast 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.