Roblox Co. (NYSE:RBLX) Stock Position Trimmed by Dragoneer Investment Group LLC

Dragoneer Investment Group LLC lowered its position in Roblox Co. (NYSE:RBLX - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,101,096 shares of the company's stock after selling 1,644,107 shares during the quarter. Roblox comprises about 10.2% of Dragoneer Investment Group LLC's portfolio, making the stock its 2nd largest position. Dragoneer Investment Group LLC owned 1.66% of Roblox worth $584,449,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RBLX. Versant Capital Management Inc lifted its stake in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company's stock worth $30,000 after purchasing an additional 239 shares during the last quarter. Colonial Trust Co SC purchased a new stake in shares of Roblox in the fourth quarter worth approximately $41,000. Parkside Financial Bank & Trust lifted its stake in shares of Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after acquiring an additional 230 shares during the last quarter. Rakuten Securities Inc. grew its position in Roblox by 25.6% in the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after acquiring an additional 195 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Roblox by 188.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock worth $56,000 after purchasing an additional 633 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on RBLX. Barclays raised their price target on shares of Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. CICC Research started coverage on shares of Roblox in a research note on Tuesday, January 14th. They set an "outperform" rating for the company. The Goldman Sachs Group raised their price objective on Roblox from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Roth Mkm increased their price target on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Roblox in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.91.

Insider Activity

In related news, insider Arvind Chakravarthy sold 982 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $61.26, for a total value of $60,157.32. Following the sale, the insider now owns 204,261 shares in the company, valued at $12,513,028.86. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Baszucki sold 229,167 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the completion of the transaction, the chief executive officer now owns 221,983 shares in the company, valued at approximately $11,649,667.84. This trade represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 764,399 shares of company stock valued at $45,431,661 over the last ninety days. 22.15% of the stock is currently owned by insiders.

Roblox Price Performance

Shares of RBLX stock opened at $70.80 on Wednesday. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The firm has a market capitalization of $44.50 billion, a price-to-earnings ratio of -48.83 and a beta of 1.46. The stock's 50-day simple moving average is $60.18 and its 200-day simple moving average is $58.93.

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, topping the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Roblox's revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) EPS. As a group, equities analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Roblox Company Profile

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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