JAT Capital Mgmt LP Decreases Stake in Roblox Co. (NYSE:RBLX)

JAT Capital Mgmt LP decreased its stake in Roblox Co. (NYSE:RBLX - Free Report) by 98.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,015 shares of the company's stock after selling 607,985 shares during the quarter. JAT Capital Mgmt LP's holdings in Roblox were worth $695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Voleon Capital Management LP bought a new position in Roblox during the fourth quarter valued at $4,048,000. Utah Retirement Systems boosted its stake in shares of Roblox by 3.1% during the fourth quarter. Utah Retirement Systems now owns 87,116 shares of the company's stock valued at $5,041,000 after purchasing an additional 2,600 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in shares of Roblox by 110.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 255,400 shares of the company's stock worth $14,777,000 after purchasing an additional 134,200 shares during the last quarter. Northern Trust Corp increased its stake in Roblox by 15.5% in the 4th quarter. Northern Trust Corp now owns 3,104,224 shares of the company's stock worth $179,610,000 after buying an additional 415,837 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Roblox by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 35,517 shares of the company's stock valued at $2,055,000 after buying an additional 872 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

RBLX has been the subject of a number of research reports. Roth Mkm boosted their price target on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday. Needham & Company LLC raised their price target on Roblox from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, February 7th. CICC Research began coverage on shares of Roblox in a research report on Tuesday, January 14th. They set an "outperform" rating on the stock. FBN Securities assumed coverage on Roblox in a report on Friday, March 28th. They set a "sector perform" rating and a $65.00 target price for the company. Finally, Morgan Stanley dropped their target price on Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Roblox presently has a consensus rating of "Moderate Buy" and an average target price of $67.27.

Roblox Price Performance

Shares of NYSE RBLX traded up $5.19 during trading on Friday, hitting $74.19. The company had a trading volume of 15,007,967 shares, compared to its average volume of 8,008,309. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The stock has a fifty day simple moving average of $59.73 and a two-hundred day simple moving average of $58.37. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of -51.17 and a beta of 1.49.

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

Insider Buying and Selling at Roblox

In related news, CFO Michael Guthrie sold 26,154 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the transaction, the chief financial officer now owns 417,079 shares in the company, valued at $27,502,189.26. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Reinstra sold 19,525 shares of Roblox stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total value of $1,287,478.50. Following the transaction, the insider now directly owns 339,206 shares in the company, valued at approximately $22,367,243.64. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 764,399 shares of company stock worth $45,431,661 in the last three months. 22.15% of the stock is owned by corporate insiders.

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.