Atreides Management LP Sells 134,055 Shares of Roblox Co. (NYSE:RBLX)

Atreides Management LP lessened its position in shares of Roblox Co. (NYSE:RBLX) by 13.1% during the third quarter, HoldingsChannel.com reports. The fund owned 887,885 shares of the company’s stock after selling 134,055 shares during the period. Roblox makes up approximately 1.0% of Atreides Management LP’s holdings, making the stock its 26th largest holding. Atreides Management LP’s holdings in Roblox were worth $39,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBLX. Janus Henderson Group PLC increased its holdings in Roblox by 22.7% during the 1st quarter. Janus Henderson Group PLC now owns 49,520 shares of the company’s stock worth $1,890,000 after acquiring an additional 9,159 shares during the period. Swedbank AB bought a new position in shares of Roblox in the 1st quarter worth $2,024,000. Cetera Advisors LLC increased its holdings in shares of Roblox by 45.2% in the 1st quarter. Cetera Advisors LLC now owns 17,279 shares of the company’s stock worth $660,000 after buying an additional 5,377 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after buying an additional 1,419 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Roblox by 16.2% in the 2nd quarter. DNB Asset Management AS now owns 75,508 shares of the company’s stock worth $2,810,000 after buying an additional 10,504 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley raised shares of Roblox from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $38.00 to $65.00 in a report on Monday, November 4th. Raymond James reissued a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a report on Friday, November 22nd. Macquarie increased their price target on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler upped their price objective on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox Trading Up 1.5 %

NYSE:RBLX opened at $50.13 on Monday. The company has a 50-day moving average price of $46.35 and a 200-day moving average price of $41.59. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $55.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of -30.57 and a beta of 1.56.

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

Insider Buying and Selling

In related news, insider Manuel Bronstein sold 40,739 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $45.00, for a total value of $1,833,255.00. Following the completion of the transaction, the insider now directly owns 727,485 shares in the company, valued at $32,736,825. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,013,607 shares of company stock worth $48,434,122 in the last three months. 22.15% of the stock is owned by corporate insiders.

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.