Pinnbrook Capital Management LP Takes Position in Roblox Corporation $RBLX

Pinnbrook Capital Management LP bought a new stake in Roblox Corporation (NYSE:RBLX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,399 shares of the company’s stock, valued at approximately $1,995,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Roblox in the 2nd quarter valued at about $350,720,000. Vanguard Group Inc. boosted its stake in Roblox by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after acquiring an additional 3,284,073 shares during the last quarter. Federated Hermes Inc. boosted its stake in Roblox by 103.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock worth $341,410,000 after acquiring an additional 1,646,871 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Roblox by 47.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock valued at $503,718,000 after purchasing an additional 1,531,380 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Roblox by 359.8% in the second quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock valued at $191,295,000 after purchasing an additional 1,422,894 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Baszucki sold 272,269 shares of Roblox stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the completion of the sale, the chief executive officer owned 811,373 shares of the company’s stock, valued at approximately $58,954,362.18. The trade was a 25.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony P. Lee sold 59,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $79.96, for a total transaction of $4,717,640.00. Following the completion of the transaction, the director owned 257,258 shares in the company, valued at approximately $20,570,349.68. This trade represents a 18.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 703,144 shares of company stock valued at $51,681,640. 12.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RBLX shares. Wedbush reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Roblox in a research note on Friday, February 6th. DA Davidson began coverage on Roblox in a research note on Wednesday, March 4th. They issued a “neutral” rating and a $65.00 target price for the company. Wells Fargo & Company set a $97.00 price target on Roblox in a report on Monday, February 9th. Needham & Company LLC dropped their price target on Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Morgan Stanley cut their price objective on Roblox from $155.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.35.

Roblox Trading Up 0.2%

Shares of NYSE:RBLX opened at $56.42 on Friday. The company’s 50-day moving average price is $69.85 and its two-hundred day moving average price is $97.63. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $37.33 billion, a PE ratio of -36.40 and a beta of 1.62.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the business earned ($0.33) earnings per share. The firm’s revenue was up 122.6% on a year-over-year basis. On average, equities 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.