Havemeyer Place LP Takes $2.08 Million Position in Roblox Corporation $RBLX

Havemeyer Place LP purchased a new stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 25,643 shares of the company's stock, valued at approximately $2,078,000.

Several other hedge funds also recently modified their holdings of the company. Baird Financial Group Inc. increased its position in shares of Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company's stock valued at $767,000 after purchasing an additional 102 shares during the period. Sunbelt Securities Inc. increased its position in shares of Roblox by 58.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company's stock valued at $39,000 after purchasing an additional 105 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Roblox by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company's stock valued at $560,000 after purchasing an additional 110 shares during the period. Westpac Banking Corp increased its position in shares of Roblox by 0.6% during the 3rd quarter. Westpac Banking Corp now owns 20,043 shares of the company's stock valued at $2,776,000 after purchasing an additional 115 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of Roblox by 1.3% during the 2nd quarter. NewEdge Advisors LLC now owns 10,374 shares of the company's stock valued at $1,091,000 after purchasing an additional 138 shares during the period. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RBLX shares. Needham & Company LLC started coverage on Roblox in a report on Friday, May 1st. They issued a "buy" rating and a $60.00 target price on the stock. Bank of America cut Roblox from a "buy" rating to a "neutral" rating and set a $48.00 target price on the stock. in a report on Friday, May 1st. Roth Mkm set a $65.00 target price on Roblox in a report on Tuesday, May 5th. Wells Fargo & Company decreased their target price on Roblox from $97.00 to $78.00 and set an "overweight" rating on the stock in a report on Monday, April 6th. Finally, Citigroup decreased their target price on Roblox from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Roblox currently has a consensus rating of "Hold" and a consensus target price of $87.07.

Roblox Stock Performance

Shares of NYSE RBLX opened at $41.92 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $28.15 billion, a price-to-earnings ratio of -26.53 and a beta of 1.44. The stock's fifty day simple moving average is $51.24 and its 200 day simple moving average is $67.43. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.74 billion. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company's quarterly revenue was up 43.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) EPS. As a group, sell-side analysts forecast that Roblox Corporation will post -1.4 earnings per share for the current fiscal year.

Roblox announced that its Board of Directors has approved a stock buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 9.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Matthew D. Kaufman sold 14,356 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.27, for a total value of $649,896.12. Following the completion of the sale, the insider owned 349,964 shares of the company's stock, valued at $15,842,870.28. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Baszucki sold 50,628 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $2,292,435.84. Following the completion of the sale, the chief executive officer directly owned 852,214 shares of the company's stock, valued at approximately $38,588,249.92. This trade represents a 5.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 183,471 shares of company stock valued at $8,930,068 over the last quarter. 10.05% of the stock is owned by insiders.

Roblox Company Profile

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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