Washington Harbour Partners LP Sells 11,500 Shares of Roblox Co. (NYSE:RBLX)

Washington Harbour Partners LP trimmed its stake in Roblox Co. (NYSE:RBLX - Free Report) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,100 shares of the company's stock after selling 11,500 shares during the quarter. Roblox makes up about 2.5% of Washington Harbour Partners LP's portfolio, making the stock its 19th biggest holding. Washington Harbour Partners LP's holdings in Roblox were worth $1,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of RBLX. Whale Rock Capital Management LLC raised its stake in shares of Roblox by 95.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 4,755,213 shares of the company's stock worth $275,137,000 after purchasing an additional 2,326,588 shares in the last quarter. Woodline Partners LP increased its holdings in Roblox by 28.0% during the fourth quarter. Woodline Partners LP now owns 666,300 shares of the company's stock worth $38,552,000 after buying an additional 145,607 shares during the last quarter. Two Sigma Advisers LP raised its position in Roblox by 23.7% during the fourth quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock worth $419,867,000 after acquiring an additional 1,391,800 shares in the last quarter. Two Sigma Investments LP lifted its stake in Roblox by 25.7% in the fourth quarter. Two Sigma Investments LP now owns 4,514,666 shares of the company's stock valued at $261,219,000 after acquiring an additional 921,822 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Roblox by 7.3% in the 4th quarter. Toronto Dominion Bank now owns 64,476 shares of the company's stock valued at $3,731,000 after acquiring an additional 4,384 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Insider Activity

In other Roblox news, insider Manuel Bronstein sold 68,722 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $80.00, for a total transaction of $5,497,760.00. Following the completion of the sale, the insider now directly owns 582,454 shares in the company, valued at approximately $46,596,320. This trade represents a 10.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Baszucki sold 1,375,002 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the transaction, the chief executive officer now directly owns 221,983 shares in the company, valued at $16,024,952.77. This represents a 86.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,432,954 shares of company stock valued at $167,209,673. 22.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RBLX shares. Needham & Company LLC reiterated a "buy" rating on shares of Roblox in a research note on Friday, May 2nd. Piper Sandler restated an "overweight" rating and issued a $72.00 price objective (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Macquarie lifted their target price on Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Barclays boosted their target price on Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, OTR Global raised Roblox from a "mixed" rating to a "positive" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Roblox currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.68.

Roblox Trading Down 0.1%

NYSE RBLX opened at $81.16 on Tuesday. The firm has a market capitalization of $51.13 billion, a PE ratio of -55.97 and a beta of 1.46. The business's 50-day moving average price is $63.22 and its two-hundred day moving average price is $61.07. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. Roblox Co. has a 12 month low of $31.59 and a 12 month high of $82.02.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The firm's quarterly revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) earnings per share. On average, analysts expect that Roblox Co. will post -1.49 EPS for the current 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.

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