Roblox Corporation $RBLX Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC trimmed its stake in shares of Roblox Corporation (NYSE:RBLX) by 21.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,312,821 shares of the company’s stock after selling 1,456,477 shares during the quarter. Roblox makes up 4.4% of ARK Investment Management LLC’s holdings, making the stock its 5th biggest holding. ARK Investment Management LLC owned about 0.81% of Roblox worth $735,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Roblox by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 709,160 shares of the company’s stock worth $98,250,000 after purchasing an additional 11,340 shares during the last quarter. Insigneo Advisory Services LLC acquired a new stake in shares of Roblox during the third quarter worth $432,000. Picton Mahoney Asset Management raised its position in shares of Roblox by 277.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 114,924 shares of the company’s stock worth $15,917,000 after acquiring an additional 84,502 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Roblox by 230.9% in the third quarter. Victory Capital Management Inc. now owns 558,085 shares of the company’s stock worth $77,306,000 after purchasing an additional 389,446 shares in the last quarter. Finally, Accuvest Global Advisors acquired a new position in Roblox in the third quarter valued at approximately $283,000. 94.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on RBLX. Wells Fargo & Company set a $97.00 price target on shares of Roblox in a report on Monday, February 9th. Wolfe Research set a $100.00 target price on Roblox in a report on Monday, January 5th. Barclays decreased their price target on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Freedom Capital raised shares of Roblox from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Finally, DA Davidson assumed coverage on shares of Roblox in a research report on Wednesday. They set a “neutral” rating and a $65.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.35.

Roblox Stock Up 0.7%

RBLX opened at $67.41 on Thursday. Roblox Corporation has a twelve month low of $50.10 and a twelve month high of $150.59. The company’s 50-day moving average price is $72.78 and its two-hundred day moving average price is $100.34. The stock has a market cap of $44.60 billion, a price-to-earnings ratio of -43.49 and a beta of 1.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the firm posted ($0.33) EPS. Roblox’s revenue was up 122.6% on a year-over-year basis. As a group, equities analysts expect that Roblox Corporation will post -1.49 earnings per share for the current year.

Insider Buying and Selling

In other Roblox news, Director Anthony P. Lee sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total transaction of $577,150.00. Following the sale, the director owned 256,768 shares of the company’s stock, valued at $21,170,521.60. The trade was a 2.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Arvind Chakravarthy sold 40,646 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total value of $2,732,630.58. The SEC filing for this sale provides additional information. Insiders have sold a total of 703,144 shares of company stock worth $51,681,640 in the last quarter. 12.92% of the stock is currently owned by company insiders.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.