Roblox Corporation $RBLX is ARK Investment Management LLC’s 5th Largest Position

ARK Investment Management LLC cut its stake in shares of Roblox Corporation (NYSE:RBLX) by 21.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,312,821 shares of the company’s stock after selling 1,456,477 shares during the period. Roblox accounts for approximately 4.4% of ARK Investment Management LLC’s portfolio, making the stock its 5th largest holding. ARK Investment Management LLC’s holdings in Roblox were worth $735,932,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RBLX. NewEdge Advisors LLC increased its holdings in Roblox by 2.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after acquiring an additional 231 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Roblox by 70.2% in the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock worth $1,368,000 after purchasing an additional 5,363 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Roblox by 74.8% in the second quarter. Envestnet Asset Management Inc. now owns 117,031 shares of the company’s stock worth $12,312,000 after buying an additional 50,087 shares in the last quarter. Atria Investments Inc bought a new stake in Roblox during the second quarter valued at $217,000. Finally, Sigma Planning Corp purchased a new position in Roblox during the second quarter worth about $421,000. 94.46% of the stock is currently owned by institutional investors.

Roblox Trading Up 0.7%

NYSE:RBLX opened at $67.41 on Thursday. The company has a fifty day moving average of $72.78 and a 200 day moving average of $100.34. 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 $44.60 billion, a P/E 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 earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share 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 during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the business posted ($0.33) earnings per share. Roblox’s revenue for the quarter was up 122.6% on a year-over-year basis. On average, research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Mark Reinstra sold 60,000 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $63.94, for a total value of $3,836,400.00. Following the completion of the transaction, the insider directly owned 394,322 shares in the company, valued at approximately $25,212,948.68. This represents a 13.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arvind Chakravarthy sold 40,646 shares of Roblox stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total transaction of $2,732,630.58. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on RBLX. Citigroup lowered their price target on Roblox from $152.00 to $119.00 and set a “buy” rating on the stock in a report on Friday, February 6th. JPMorgan Chase & Co. decreased their price target on shares of Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. The Goldman Sachs Group lowered their price objective on shares of Roblox from $180.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Wolfe Research set a $100.00 target price on shares of Roblox in a research report on Monday, January 5th. Finally, Jefferies Financial Group set a $85.00 price target on Roblox in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average price target of $117.35.

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.