Westfield Capital Management Co. LP Has $164.78 Million Position in Roblox Corporation $RBLX

Westfield Capital Management Co. LP raised its holdings in Roblox Corporation (NYSE:RBLX) by 4.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,189,575 shares of the company’s stock after purchasing an additional 48,502 shares during the period. Westfield Capital Management Co. LP’s holdings in Roblox were worth $164,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Roblox during the 3rd quarter valued at about $26,000. Total Investment Management Inc. acquired a new position in Roblox in the second quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Roblox in the third quarter worth about $37,000. Root Financial Partners LLC bought a new position in Roblox during the third quarter worth about $38,000. Finally, Salomon & Ludwin LLC acquired a new stake in Roblox during the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Buying and Selling

In other Roblox news, insider Arvind Chakravarthy sold 40,646 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew D. Kaufman sold 30,034 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 769,144 shares of company stock worth $57,789,280. 12.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RBLX has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their target price on Roblox from $160.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Macquarie Infrastructure increased their price objective on Roblox from $158.00 to $164.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Jefferies Financial Group set a $85.00 target price on shares of Roblox in a research note on Thursday, January 15th. Morgan Stanley cut their price target on shares of Roblox from $155.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Finally, TD Cowen reaffirmed a “sell” rating on shares of Roblox in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.44.

Roblox Stock Up 1.6%

Shares of NYSE:RBLX opened at $68.16 on Thursday. 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 firm has a market cap of $45.10 billion, a P/E ratio of -43.97 and a beta of 1.63. Roblox Corporation has a 12 month low of $50.10 and a 12 month high of $150.59. The company’s 50-day moving average price is $74.15 and its two-hundred day moving average price is $102.35.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. Roblox’s quarterly revenue was up 122.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) earnings per share. As a group, research analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Roblox 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.