Readystate Asset Management LP Acquires 329,201 Shares of Roblox Corporation $RBLX

Readystate Asset Management LP raised its holdings in shares of Roblox Corporation (NYSE:RBLX) by 685.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 377,201 shares of the company’s stock after purchasing an additional 329,201 shares during the quarter. Readystate Asset Management LP’s holdings in Roblox were worth $20,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Roblox during the fourth quarter worth approximately $435,424,000. SRS Investment Management LLC purchased a new stake in shares of Roblox in the fourth quarter valued at approximately $238,065,000. Amundi grew its stake in Roblox by 83.7% in the first quarter. Amundi now owns 5,774,151 shares of the company’s stock worth $326,586,000 after purchasing an additional 2,631,074 shares in the last quarter. Capital International Investors increased its holdings in Roblox by 7.3% during the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after purchasing an additional 2,184,439 shares during the period. Finally, ValueAct Holdings L.P. raised its position in Roblox by 39.5% during the 4th quarter. ValueAct Holdings L.P. now owns 5,975,821 shares of the company’s stock valued at $484,221,000 after purchasing an additional 1,692,600 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Roblox Stock Down 0.2%

NYSE:RBLX opened at $43.21 on Monday. The company has a market cap of $28.95 billion, a PE ratio of -30.22 and a beta of 1.47. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. The company’s 50 day moving average is $45.46 and its two-hundred day moving average is $50.74.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted ($0.41) earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Roblox Corporation will post -1.39 EPS for the current year.

Roblox declared that its board has initiated a share repurchase program on Tuesday, May 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Roblox news, Director Gregory Baszucki sold 16,666 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $57.69, for a total transaction of $961,461.54. Following the sale, the director owned 1,277,835 shares in the company, valued at approximately $73,718,301.15. The trade was a 1.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 17,934 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $680,774.64. Following the completion of the transaction, the insider owned 398,064 shares of the company’s stock, valued at approximately $15,110,509.44. The trade was a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 179,463 shares of company stock worth $7,280,012 over the last three months. Corporate insiders own 10.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Oppenheimer cut their target price on shares of Roblox from $82.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Wall Street Zen upgraded shares of Roblox from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. TD Cowen reduced their price objective on shares of Roblox from $49.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, July 31st. B. Riley Financial lowered their target price on Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, Benchmark lowered Roblox from a “hold” rating to a “sell” rating and set a $33.00 price target for the company. in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Roblox presently has an average rating of “Hold” and an average price target of $60.89.

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.