Roblox Corporation $RBLX Stock Position Raised by Odyssean LLC

Odyssean LLC increased its stake in Roblox Corporation (NYSE:RBLX – Free Report) by 344.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,038 shares of the company’s stock after acquiring an additional 31,029 shares during the quarter. Odyssean LLC’s holdings in Roblox were worth $2,177,000 at the end of the most recent quarter.

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Several other hedge funds have also modified their holdings of the stock. Capital International Investors increased its position in shares of Roblox by 7.3% in the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after acquiring an additional 2,184,439 shares in the last quarter. Morgan Stanley boosted its position in Roblox by 8.1% during the fourth quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock valued at $1,679,664,000 after purchasing an additional 1,555,549 shares during the last quarter. State Street Corp grew its stake in shares of Roblox by 3.3% in the 4th quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after buying an additional 442,518 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Roblox by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after purchasing an additional 547,103 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Roblox by 6.3% during the fourth quarter. AQR Capital Management LLC now owns 10,312,837 shares of the company’s stock valued at $832,968,000 after buying an additional 615,299 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RBLX shares. Raymond James Financial initiated coverage on shares of Roblox in a report on Monday, June 29th. They set a “market perform” rating for the company. Morgan Stanley decreased their price target on shares of Roblox from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. B. Riley Financial cut their price objective on shares of Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Benchmark cut Roblox from a “hold” rating to a “sell” rating and set a $33.00 target price for the company. in a research report on Friday, July 31st. Finally, TD Cowen reduced their target price on shares of Roblox from $49.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $60.89.

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Check Out Our Latest Analysis on Roblox

Insider Activity

In other news, insider Sean Buckley sold 4,321 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $38.68, for a total value of $167,136.28. Following the sale, the insider directly owned 87,213 shares of the company’s stock, valued at approximately $3,373,398.84. This represents a 4.72% decrease in their position. The sale 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 shares were sold at an average price of $37.96, for a total transaction of $680,774.64. Following the completion of the sale, the insider owned 398,064 shares of the company’s stock, valued at $15,110,509.44. This trade represents a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 185,441 shares of company stock valued at $7,529,354. 10.05% of the stock is owned by corporate insiders.

Roblox Trading Up 4.1%

Roblox Stock Slides to New Low as Safety Changes Weigh on Outlook

NYSE:RBLX opened at $43.21 on Friday. The company has a market cap of $28.95 billion, a P/E 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 business has a 50 day moving average price of $45.46 and a two-hundred day moving average price of $50.83. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82.

Roblox (NYSE:RBLX – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.08. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.41) EPS. As a group, analysts expect that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox declared that its board has approved a stock buyback plan on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Roblox Profile

(Free Report)

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.

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