Roblox Corporation $RBLX Shares Sold by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC reduced its stake in Roblox Corporation by 25.4% during the 2nd quarter, now holding approximately $712 million worth of shares.
• Analysts have varied ratings for Roblox, with 20 giving a Buy rating and a consensus average target price of $129.22, while Barclays increased its price target from $62 to $120.
• Roblox's recent quarterly earnings reported a 50.5% revenue increase year-over-year, but a loss per share of ($0.41) was higher than analysts' expectations.

ARK Investment Management LLC lessened its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 25.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,769,298 shares of the company's stock after selling 2,302,680 shares during the period. Roblox makes up approximately 5.2% of ARK Investment Management LLC's holdings, making the stock its 5th largest position. ARK Investment Management LLC owned 1.00% of Roblox worth $712,130,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new position in Roblox in the 2nd quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings in Roblox by 819.0% in the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after acquiring an additional 516 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Roblox in the 2nd quarter valued at approximately $40,000. Kiker Wealth Management LLC raised its holdings in Roblox by 2,646.7% in the 2nd quarter. Kiker Wealth Management LLC now owns 412 shares of the company's stock valued at $43,000 after acquiring an additional 397 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Roblox by 124.7% in the 2nd quarter. Fifth Third Bancorp now owns 537 shares of the company's stock valued at $56,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Analyst Ratings Changes

RBLX has been the subject of several recent research reports. Barclays upped their price target on Roblox from $62.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Roblox in a report on Wednesday, October 8th. Morgan Stanley set a $170.00 target price on Roblox and gave the stock an "overweight" rating in a report on Monday, October 13th. Wells Fargo & Company increased their target price on Roblox from $153.00 to $155.00 and gave the stock an "overweight" rating in a report on Friday, October 3rd. Finally, Wall Street Zen raised Roblox from a "sell" rating to a "hold" rating in a report on Saturday. Twenty investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $129.22.

Insider Buying and Selling at Roblox

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $135.02, for a total value of $810,120.00. Following the transaction, the insider directly owned 272,642 shares in the company, valued at approximately $36,812,122.84. This trade represents a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 6,567 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $117.71, for a total value of $773,001.57. Following the completion of the transaction, the chief accounting officer owned 46,866 shares in the company, valued at $5,516,596.86. This represents a 12.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 366,876 shares of company stock worth $47,485,929 over the last 90 days. Company insiders own 12.92% of the company's stock.

Roblox Stock Down 1.2%

NYSE RBLX opened at $133.18 on Wednesday. The firm has a market cap of $85.91 billion, a PE ratio of -93.13 and a beta of 1.63. Roblox Corporation has a one year low of $40.57 and a one year high of $150.59. The stock's 50 day simple moving average is $129.46 and its 200 day simple moving average is $105.05. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97.

Roblox (NYSE:RBLX - Get Free Report) last released 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). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%.The firm's revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) earnings per share. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

About Roblox

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.

Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Corporation (NYSE:RBLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.