ARK Investment Management LLC Sells 1,497,419 Shares of Roblox Co. (NYSE:RBLX)

ARK Investment Management LLC decreased its position in shares of Roblox Co. (NYSE:RBLX) by 11.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,841,410 shares of the company’s stock after selling 1,497,419 shares during the quarter. Roblox makes up approximately 4.8% of ARK Investment Management LLC’s investment portfolio, making the stock its 4th biggest position. ARK Investment Management LLC’s holdings in Roblox were worth $524,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RBLX. Allspring Global Investments Holdings LLC raised its stake in Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after buying an additional 548 shares during the period. Norden Group LLC acquired a new stake in shares of Roblox in the first quarter valued at about $230,000. Nordea Investment Management AB increased its position in shares of Roblox by 4.8% in the first quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock valued at $1,104,000 after acquiring an additional 1,298 shares during the last quarter. Quantbot Technologies LP grew its holdings in Roblox by 66.2% during the first quarter. Quantbot Technologies LP now owns 38,833 shares of the company’s stock worth $1,483,000 after purchasing an additional 15,466 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Roblox by 29.5% during the first quarter. Empowered Funds LLC now owns 6,267 shares of the company’s stock worth $239,000 after acquiring an additional 1,426 shares during the period. 91.08% of the stock is currently owned by institutional investors.

Roblox Stock Up 0.4 %

Shares of RBLX stock opened at $53.11 on Friday. The stock has a market cap of $32.27 billion, a P/E ratio of -32.38 and a beta of 1.56. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $53.66. The company has a 50 day simple moving average of $44.11 and a two-hundred day simple moving average of $39.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned ($0.45) earnings per share. Roblox’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts expect that Roblox Co. will post -1.58 earnings per share for the current year.

Insider Buying and Selling

In other Roblox news, insider Manuel Bronstein sold 37,846 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.03, for a total transaction of $1,969,127.38. Following the transaction, the insider now directly owns 674,259 shares in the company, valued at $35,081,695.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Roblox news, insider Manuel Bronstein sold 37,846 shares of Roblox stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.03, for a total transaction of $1,969,127.38. Following the completion of the sale, the insider now directly owns 674,259 shares in the company, valued at approximately $35,081,695.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,029,373 shares of company stock valued at $46,476,179 in the last 90 days. Company insiders own 22.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $49.00 price target on shares of Roblox in a report on Friday, October 25th. BTIG Research boosted their price objective on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Raymond James boosted their price objective on shares of Roblox from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC upped their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Seven investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.30.

Roblox Profile

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.