Roblox Corporation $RBLX Holdings Reduced by 12 West Capital Management LP

12 West Capital Management LP trimmed its holdings in Roblox Corporation (NYSE:RBLX) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,065,000 shares of the company’s stock after selling 68,000 shares during the quarter. Roblox makes up approximately 15.3% of 12 West Capital Management LP’s holdings, making the stock its 3rd biggest position. 12 West Capital Management LP owned 0.16% of Roblox worth $147,524,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RBLX. Pilgrim Partners Asia Pte Ltd purchased a new position in Roblox during the third quarter valued at $26,000. Total Investment Management Inc. bought a new stake in Roblox in the 2nd quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Roblox during the 3rd quarter valued at about $37,000. Root Financial Partners LLC bought a new position in shares of Roblox during the 3rd quarter valued at about $38,000. Finally, Salomon & Ludwin LLC bought a new position in shares of Roblox during the 3rd quarter valued at about $41,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Up 0.2%

NYSE RBLX opened at $56.42 on Friday. 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 Corporation has a 52 week low of $50.10 and a 52 week high of $150.59. The firm has a market capitalization of $37.33 billion, a price-to-earnings ratio of -36.40 and a beta of 1.62. The company has a fifty day moving average of $69.85 and a two-hundred day moving average of $97.43.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. The business’s revenue for the quarter was up 122.6% on a year-over-year basis. On average, analysts predict that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

RBLX has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Roblox in a report on Friday, February 6th. B. Riley Financial initiated coverage on Roblox in a research note on Tuesday, December 9th. They set a “buy” rating and a $125.00 price target for the company. BMO Capital Markets restated an “outperform” rating on shares of Roblox in a report on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 price objective (down from $125.00) on shares of Roblox in a research note on Friday, February 6th. Finally, Morgan Stanley decreased their price objective on Roblox from $155.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average target price of $117.35.

Insider Buying and Selling

In other Roblox news, Director Anthony P. Lee sold 7,000 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $82.45, for a total value of $577,150.00. Following the sale, the director owned 256,768 shares in the company, valued at $21,170,521.60. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Reinstra sold 60,000 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the sale, the insider directly owned 394,322 shares of the company’s stock, valued at $25,212,948.68. This represents a 13.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 703,144 shares of company stock worth $51,681,640 over the last three months. 12.92% of the stock is currently owned by company insiders.

Roblox Company Profile

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.