Altos Ventures Management Inc. Has $295.59 Million Stock Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Altos Ventures Management Inc. significantly reduced its stake in Roblox Corporation by 66.2%, selling nearly 10 million shares and leaving it with approximately 5 million shares valued at $295.59 million.
• A number of brokerages have recently raised their price targets for Roblox, with estimates ranging up to $170.00, reflecting a positive outlook for the stock.
• Roblox reported a quarterly revenue of $1.44 billion, exceeding analysts' expectations, but reported an earnings per share (EPS) loss that missed consensus estimates by $0.04.

Altos Ventures Management Inc. cut its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 66.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,070,992 shares of the company's stock after selling 9,919,760 shares during the quarter. Roblox accounts for about 100.0% of Altos Ventures Management Inc.'s holdings, making the stock its biggest holding. Altos Ventures Management Inc. owned approximately 0.80% of Roblox worth $295,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of RBLX. Gordian Capital Singapore Pte Ltd lifted its position in Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC lifted its position in Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Roblox in the 1st quarter worth approximately $39,000. Colonial Trust Co SC bought a new stake in shares of Roblox in the 4th quarter worth approximately $41,000. Finally, Headlands Technologies LLC bought a new stake in shares of Roblox in the 1st quarter worth approximately $57,000. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RBLX. Benchmark boosted their price objective on shares of Roblox from $77.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Piper Sandler boosted their price objective on shares of Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Needham & Company LLC boosted their price objective on shares of Roblox from $79.00 to $159.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Canaccord Genuity Group boosted their price objective on shares of Roblox from $125.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price objective on shares of Roblox from $76.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and an average price target of $117.59.

Roblox Stock Down 0.7%

Shares of Roblox stock opened at $128.75 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.94. The company's fifty day simple moving average is $109.58 and its two-hundred day simple moving average is $80.90. The company has a market cap of $83.05 billion, a P/E ratio of -90.03 and a beta of 1.63. Roblox Corporation has a 12-month low of $36.77 and a 12-month high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The firm's revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) earnings per share. Research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 687,500 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the transaction, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $18,610,845.23. The trade was a 76.47% 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. Over the last quarter, insiders have sold 5,441,460 shares of company stock worth $517,140,722. 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.

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