Roblox Corporation $RBLX Shares Sold by Numerai GP LLC

Key Points

• Numerai GP LLC cut its Roblox stake by 57.9% in Q3, selling 40,545 shares and leaving it with 29,493 shares valued at about $4.09 million.
• Insider selling was substantial: insiders sold a total of 703,144 shares worth $51.68 million last quarter, including Mark Reinstra (60,000 shares at $63.94) and Arvind Chakravarthy (40,646 shares at $67.23), leaving insiders with 12.92% ownership.
• Roblox reported Q results with EPS of ($0.45) (beating estimates) and revenue of $1.42 billion (up 122.6% YoY but below analyst forecasts); the stock has a market cap of ~$39.1 billion and a consensus analyst target of $117.35 ("Moderate Buy").

Numerai GP LLC lowered its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 57.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,493 shares of the company's stock after selling 40,545 shares during the quarter. Numerai GP LLC's holdings in Roblox were worth $4,085,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of RBLX. Mizuho Markets Cayman LP acquired a new stake in shares of Roblox during the third quarter valued at $3,471,000. National Bank of Canada FI lifted its holdings in Roblox by 190.4% in the 3rd quarter. National Bank of Canada FI now owns 12,164 shares of the company's stock valued at $1,685,000 after purchasing an additional 7,975 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Roblox by 64.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 86,249 shares of the company's stock worth $11,947,000 after purchasing an additional 33,664 shares during the last quarter. Moore Capital Management LP grew its holdings in shares of Roblox by 67.7% during the third quarter. Moore Capital Management LP now owns 507,761 shares of the company's stock worth $70,335,000 after buying an additional 204,950 shares in the last quarter. Finally, L2 Asset Management LLC raised its position in shares of Roblox by 5.9% in the third quarter. L2 Asset Management LLC now owns 2,783 shares of the company's stock valued at $386,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Insider Activity

In other news, insider Mark Reinstra sold 60,000 shares of the firm's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $63.94, for a total value of $3,836,400.00. Following the transaction, the insider owned 394,322 shares of the company's stock, valued at approximately $25,212,948.68. This trade represents a 13.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Arvind Chakravarthy sold 40,646 shares of Roblox stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total transaction of $2,732,630.58. The SEC filing for this sale provides additional information. Insiders sold a total of 703,144 shares of company stock valued at $51,681,640 over the last quarter. 12.92% of the stock is owned by insiders.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $59.12 on Tuesday. The firm has a market capitalization of $39.12 billion, a PE ratio of -38.14 and a beta of 1.62. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average of $69.41 and a two-hundred day moving average of $96.78. Roblox Corporation has a 12 month low of $50.10 and a 12 month high of $150.59.

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, beating the consensus estimate of ($0.49) by $0.04. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the company posted ($0.33) EPS. The company's revenue was up 122.6% compared to the same quarter last year. As a group, research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wedbush restated an "outperform" rating and set a $110.00 target price on shares of Roblox in a research report on Friday, February 6th. Wells Fargo & Company set a $97.00 price objective on Roblox in a report on Monday, February 9th. JPMorgan Chase & Co. lowered their price objective on Roblox from $100.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, February 6th. BMO Capital Markets reiterated an "outperform" rating on shares of Roblox in a research note on Friday, February 6th. Finally, Morgan Stanley lowered their price target on Roblox from $155.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $117.35.

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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