Roblox Corporation $RBLX Shares Sold by Atreides Management LP

Key Points

• Atreides Management LP cut its Roblox stake by 29.8% in Q3, selling 313,535 shares and now holds 737,007 shares (about 0.11% of the company); Roblox represents roughly 2.0% of the fund and is its 14th largest holding.
• Roblox's latest quarter showed EPS of -$0.45 (beating estimates) and revenue of $1.42 billion, which missed forecasts despite revenue rising 122.6% year‑over‑year, and the company still reports negative margins and ROE.
• Insiders have been net sellers—CEO David Baszucki sold 272,269 shares and insiders sold 703,144 shares (~$51.7M) over 90 days—while other large institutions (e.g., CalPERS, Bank of Nova Scotia) increased positions and roughly 94.46% of stock is held by hedge funds and institutions.

Atreides Management LP cut its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 29.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 737,007 shares of the company's stock after selling 313,535 shares during the quarter. Roblox makes up approximately 2.0% of Atreides Management LP's holdings, making the stock its 14th largest holding. Atreides Management LP owned about 0.11% of Roblox worth $102,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ausdal Financial Partners Inc. purchased a new position in shares of Roblox during the 3rd quarter valued at approximately $259,000. California Public Employees Retirement System increased its stake in shares of Roblox by 10.0% in the third quarter. California Public Employees Retirement System now owns 1,024,235 shares of the company's stock worth $141,877,000 after buying an additional 93,392 shares during the last quarter. Bank of Nova Scotia raised its holdings in Roblox by 88.9% in the third quarter. Bank of Nova Scotia now owns 1,236,715 shares of the company's stock valued at $171,310,000 after acquiring an additional 582,162 shares in the last quarter. Boothbay Fund Management LLC raised its holdings in Roblox by 399.5% in the third quarter. Boothbay Fund Management LLC now owns 47,913 shares of the company's stock valued at $6,637,000 after acquiring an additional 63,913 shares in the last quarter. Finally, Aquatic Capital Management LLC boosted its stake in Roblox by 90.3% during the 3rd quarter. Aquatic Capital Management LLC now owns 192,046 shares of the company's stock valued at $26,602,000 after acquiring an additional 91,114 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Trading Up 0.2%

NYSE RBLX opened at $56.42 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a 50-day simple moving average of $69.85 and a 200-day simple moving average of $97.43. The firm has a market capitalization of $37.33 billion, a PE ratio of -36.40 and a beta of 1.62.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Roblox's quarterly revenue was up 122.6% on a year-over-year basis. On average, equities analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RBLX shares. BTIG Research reissued a "buy" rating and issued a $141.00 target price on shares of Roblox in a research report on Friday, February 6th. Wells Fargo & Company set a $97.00 price target on shares of Roblox in a research report on Monday, February 9th. B. Riley Financial initiated coverage on Roblox in a report on Tuesday, December 9th. They issued a "buy" rating and a $125.00 price objective for the company. Freedom Capital upgraded Roblox from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 6th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Roblox in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $117.35.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 272,269 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the completion of the transaction, the chief executive officer owned 811,373 shares of the company's stock, valued at approximately $58,954,362.18. The trade was a 25.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew D. Kaufman sold 30,034 shares of the company's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the transaction, the insider owned 307,263 shares of the company's stock, valued at $22,322,656.95. This represents a 8.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is owned by company insiders.

About Roblox

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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