Chicago Partners Investment Group LLC Cuts Holdings in Roblox Corporation (NYSE:RBLX)

Key Points

• Chicago Partners Investment Group LLC reduced its stake in Roblox Corporation by 34.8%, selling 2,038 shares in the first quarter and holding a total of 3,814 shares valued at $222,000.
• Various institutional investors have made significant adjustments to their positions, with AlpInvest Partners B.V. increasing its stake by 25.0% and now owning 41,100 shares valued at $2,396,000.
• Roblox's earnings report revealed a revenue increase of 50.5% year-over-year, though it posted a loss of ($0.41) earnings per share, missing analysts' expectations.

Chicago Partners Investment Group LLC decreased its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 34.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,814 shares of the company's stock after selling 2,038 shares during the period. Chicago Partners Investment Group LLC's holdings in Roblox were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd boosted its holdings in Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after buying an additional 240 shares during the period. Larson Financial Group LLC boosted its holdings in Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after buying an additional 516 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Roblox in the 1st quarter worth $39,000. Colonial Trust Co SC bought a new position in Roblox in the 4th quarter worth $41,000. Finally, TD Private Client Wealth LLC bought a new position in Roblox in the 1st quarter worth $58,000. Institutional investors own 94.46% of the company's stock.

Roblox Price Performance

RBLX traded down $1.64 during trading on Thursday, hitting $125.14. The stock had a trading volume of 6,493,902 shares, compared to its average volume of 9,423,289. Roblox Corporation has a twelve month low of $37.50 and a twelve month high of $150.59. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50 day simple moving average of $111.91 and a two-hundred day simple moving average of $82.09.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The company's quarterly revenue was up 50.5% on a year-over-year basis. As a group, research analysts forecast that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Activity

In related news, CEO David Baszucki sold 687,500 shares of the firm'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 completion of the transaction, the chief executive officer owned 211,559 shares of the company's stock, valued at $18,610,845.23. This trade represents a 76.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 5,127,213 shares of company stock worth $493,410,989 over the last three months. Company insiders own 12.92% of the company's stock.

Analysts Set New Price Targets

RBLX has been the topic of several research analyst reports. Needham & Company LLC boosted their price target on shares of Roblox from $79.00 to $159.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Macquarie upped their target price on shares of Roblox from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Benchmark upped their target price on shares of Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, BMO Capital Markets increased their price objective on shares of Roblox from $135.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two equities research 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.com, the company has an average rating of "Moderate Buy" and a consensus 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.