Roblox Corporation (NYSE:RBLX) Shares Sold by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC reduced its stake in Roblox Corporation by 48.1%, selling 23,131 shares, which now makes the stock only 0.6% of its portfolio.
• Several hedge funds, including FMR LLC and Whale Rock Capital Management LLC, significantly increased their holdings in Roblox during the fourth quarter, reflecting strong institutional interest.
• Roblox's recent earnings missed analysts' expectations, reporting a loss of ($0.41) per share, despite a 50.5% year-over-year revenue increase to $1.44 billion.

Blueshift Asset Management LLC reduced its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 48.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,914 shares of the company's stock after selling 23,131 shares during the quarter. Roblox accounts for 0.6% of Blueshift Asset Management LLC's holdings, making the stock its 26th largest position. Blueshift Asset Management LLC's holdings in Roblox were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of RBLX. FMR LLC increased its position in shares of Roblox by 89.4% in the fourth quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after buying an additional 18,715,837 shares in the last quarter. Durable Capital Partners LP acquired a new stake in Roblox in the 4th quarter valued at $246,560,000. Ninety One UK Ltd purchased a new stake in Roblox in the 1st quarter worth $137,379,000. Whale Rock Capital Management LLC raised its position in Roblox by 95.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after acquiring an additional 2,326,588 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Roblox by 210.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,256,815 shares of the company's stock valued at $189,840,000 after purchasing an additional 2,207,897 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 1,375,002 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the sale, the chief executive officer directly owned 221,983 shares in the company, valued at $16,024,952.77. This represents a 86.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 6,651,690 shares of company stock worth $593,440,562. Company insiders own 12.92% of the company's stock.

Roblox Price Performance

Shares of RBLX traded down $12.63 on Friday, reaching $125.16. The stock had a trading volume of 14,997,187 shares, compared to its average volume of 8,640,285. Roblox Corporation has a twelve month low of $35.30 and a twelve month high of $150.59. The firm has a market capitalization of $84.89 billion, a PE ratio of -87.52 and a beta of 1.63. The firm has a 50-day moving average of $105.05 and a 200 day moving average of $78.67. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). The firm had revenue of $1.44 billion during 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 417.87%. The company's quarterly revenue was up 50.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.32) EPS. Sell-side analysts expect that Roblox Corporation will post -1.49 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Macquarie upped their price target on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Bank of America increased their target price on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Canaccord Genuity Group boosted their price target on Roblox from $125.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays upped their price objective on shares of Roblox from $62.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Needham & Company LLC boosted their target price on shares of Roblox from $79.00 to $159.00 and gave the company a "buy" rating in a report on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $117.59.

Roblox 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.