Roblox Co. (NYSE:RBLX) Shares Sold by Altos Ventures Management Inc.

Altos Ventures Management Inc. lowered its stake in Roblox Co. (NYSE:RBLX) by 23.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,660,466 shares of the company’s stock after selling 10,282,377 shares during the quarter. Roblox comprises about 100.0% of Altos Ventures Management Inc.’s portfolio, making the stock its biggest holding. Altos Ventures Management Inc. owned about 5.54% of Roblox worth $1,489,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in RBLX. DekaBank Deutsche Girozentrale grew its position in Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after acquiring an additional 1,419 shares in the last quarter. Entropy Technologies LP grew its holdings in shares of Roblox by 168.4% in the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock valued at $4,410,000 after purchasing an additional 62,521 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in Roblox by 62.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock worth $1,395,000 after buying an additional 14,348 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its position in Roblox by 23.2% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock valued at $19,783,000 after buying an additional 84,198 shares during the period. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBLX has been the topic of several analyst reports. Citigroup increased their price objective on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC boosted their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Macquarie raised their target price on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price target on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.30.

Roblox Stock Down 0.2 %

Shares of Roblox stock opened at $49.06 on Wednesday. The company has a market cap of $29.81 billion, a P/E ratio of -29.91 and a beta of 1.56. Roblox Co. has a one year low of $29.55 and a one year high of $55.10. The firm has a fifty day moving average of $46.13 and a two-hundred day moving average of $41.22. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.45) EPS. On average, analysts forecast that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anthony P. Lee sold 200,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total value of $10,066,000.00. Following the sale, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. This represents a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Manuel Bronstein sold 40,739 shares of Roblox stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $45.00, for a total value of $1,833,255.00. Following the sale, the insider now owns 727,485 shares of the company’s stock, valued at approximately $32,736,825. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,013,607 shares of company stock worth $48,434,122 in the last three months. Corporate insiders own 22.15% of the company’s stock.

Roblox 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.