Hidden Lake Asset Management LP Trims Stake in Roblox Corporation $RBLX

Hidden Lake Asset Management LP lessened its holdings in Roblox Corporation (NYSE:RBLX) by 22.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,917 shares of the company’s stock after selling 29,173 shares during the quarter. Roblox makes up about 1.8% of Hidden Lake Asset Management LP’s investment portfolio, making the stock its 4th largest holding. Hidden Lake Asset Management LP’s holdings in Roblox were worth $13,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Roblox in the 3rd quarter worth about $26,000. Total Investment Management Inc. bought a new stake in shares of Roblox during the 2nd quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Roblox during the third quarter worth about $37,000. Root Financial Partners LLC acquired a new stake in Roblox during the third quarter worth about $38,000. Finally, Salomon & Ludwin LLC acquired a new position in Roblox in the third quarter valued at approximately $41,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Roblox news, insider Matthew D. Kaufman sold 30,034 shares of the company’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 sale, the insider directly owned 307,263 shares of the company’s stock, valued at approximately $22,322,656.95. This represents a 8.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony P. Lee sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $82.45, for a total value of $577,150.00. Following the sale, the director owned 256,768 shares of the company’s stock, valued at $21,170,521.60. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is owned by company insiders.

Roblox Price Performance

Shares of NYSE:RBLX opened at $56.42 on Monday. The company has a market capitalization of $37.33 billion, a PE ratio of -36.40 and a beta of 1.62. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $69.85 and a 200-day moving average of $97.25. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59.

Roblox (NYSE:RBLX) last issued 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The company’s quarterly revenue was up 122.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.33) EPS. As a group, equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Citigroup dropped their target price on Roblox from $152.00 to $119.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Wells Fargo & Company set a $97.00 price objective on Roblox in a report on Monday, February 9th. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 target price (down from $125.00) on shares of Roblox in a research note on Friday, February 6th. Finally, Barclays lowered their target price on Roblox from $130.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight 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 a consensus rating of “Moderate Buy” and a consensus target price 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.