Roblox Corporation $RBLX Shares Sold by 12 West Capital Management LP

Key Points

• 12 West Capital Management LP reduced its stake in Roblox Corporation by 42.6%, selling 878,988 shares and now holding approximately 1.18 million shares worth around $68.96 million.
• Insider trading activity included Director Anthony P. Lee selling 66,000 shares for over $8.5 million, representing a 19.08% decrease in his ownership.
• Despite recent challenges, Roblox's revenue increased by 50.5% year-over-year, reporting $1.44 billion for the quarter, and analysts are optimistic with a consensus target price of $119.00.

12 West Capital Management LP trimmed its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 42.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,183,000 shares of the company's stock after selling 878,988 shares during the quarter. Roblox makes up about 10.2% of 12 West Capital Management LP's investment portfolio, making the stock its 3rd largest holding. 12 West Capital Management LP owned approximately 0.19% of Roblox worth $68,957,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after buying an additional 240 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Roblox by 819.0% during the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after buying an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Roblox during the 1st quarter valued at about $39,000. Colonial Trust Co SC acquired a new stake in shares of Roblox during the 4th quarter valued at about $41,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Roblox during the 1st quarter valued at about $57,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Stock Performance

Shares of RBLX stock traded down $2.01 during trading hours on Friday, reaching $127.78. 6,940,123 shares of the company's stock were exchanged, compared to its average volume of 8,730,606. Roblox Corporation has a fifty-two week low of $37.50 and a fifty-two week high of $150.59. The stock has a market capitalization of $82.42 billion, a P/E ratio of -89.35 and a beta of 1.62. The business has a fifty day moving average price of $120.00 and a 200-day moving average price of $88.56. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%.The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm's quarterly revenue was up 50.5% compared to the same quarter last year. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts predict that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RBLX shares. Benchmark lifted their price target on Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a report on Friday, August 1st. BTIG Research set a $131.00 target price on Roblox and gave the stock a "buy" rating in a report on Monday, July 28th. Wolfe Research upgraded Roblox from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Friday, August 22nd. Morgan Stanley boosted their target price on Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Canaccord Genuity Group boosted their target price on Roblox from $125.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Twenty research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $119.00.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 454,963 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $100.61, for a total transaction of $45,773,827.43. Following the completion of the transaction, the chief executive officer directly owned 211,559 shares in the company, valued at $21,284,950.99. The trade was a 68.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony P. Lee sold 111,112 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $131.01, for a total value of $14,556,783.12. The disclosure for this sale can be found here. Insiders sold a total of 2,047,908 shares of company stock worth $215,580,184 over the last three months. 12.92% of the stock is currently owned by insiders.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.