Assetmark Inc. Increases Stock Holdings in Roblox Corporation $RBLX

Assetmark Inc. raised its stake in shares of Roblox Corporation (NYSE:RBLX) by 53.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,376 shares of the company’s stock after purchasing an additional 23,748 shares during the quarter. Assetmark Inc.’s holdings in Roblox were worth $9,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in Roblox in the third quarter worth about $26,000. Total Investment Management Inc. purchased a new stake in shares of Roblox in the 2nd quarter worth about $29,000. Whipplewood Advisors LLC bought a new position in shares of Roblox in the 2nd quarter worth about $34,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Roblox during the 3rd quarter valued at about $37,000. Finally, Root Financial Partners LLC bought a new position in Roblox during the 3rd quarter valued at approximately $38,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Price Performance

Shares of Roblox stock opened at $63.09 on Tuesday. The company has a market capitalization of $41.74 billion, a price-to-earnings ratio of -40.70 and a beta of 1.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. The stock’s 50-day simple moving average is $77.88 and its 200-day simple moving average is $105.37. Roblox Corporation has a 52 week low of $50.10 and a 52 week high of $150.59.

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 return on equity of 304.42% and a negative net margin of 21.78%.The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm earned ($0.33) EPS. The firm’s revenue was up 122.6% compared to the same quarter last year. As a group, analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other news, insider Arvind Chakravarthy sold 40,646 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew D. Kaufman sold 30,034 shares of Roblox stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $72.65, for a total value of $2,181,970.10. Following the completion of the sale, the insider directly owned 307,263 shares in the company, valued at $22,322,656.95. This trade represents a 8.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 789,521 shares of company stock valued at $61,989,659 in the last ninety days. Corporate insiders own 12.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RBLX. Barclays decreased their target price on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a report on Monday, December 29th. Freedom Capital raised Roblox from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. BTIG Research reissued a “buy” rating and issued a $141.00 target price on shares of Roblox in a report on Friday, February 6th. Finally, Morgan Stanley lowered their target price on shares of Roblox from $155.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.44.

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.