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

Altos Ventures Management Inc. cut its stake in Roblox Co. (NYSE:RBLX) by 23.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,660,466 shares of the company’s stock after selling 10,282,377 shares during the period. Roblox makes up 100.0% of Altos Ventures Management Inc.’s investment portfolio, making the stock its largest position. Altos Ventures Management Inc. owned about 0.06% of Roblox worth $1,489,812,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In related news, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony P. Lee sold 200,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the transaction, the director now owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This trade represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,013,607 shares of company stock worth $48,434,122 over the last quarter. 22.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on RBLX. Wells Fargo & Company lifted their price target on shares of Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Macquarie lifted 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. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 price target on shares of Roblox in a research report on Friday, November 22nd. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $65.00 in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their target price on Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report 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’s stock. According to MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Price Performance

Shares of NYSE RBLX opened at $49.06 on Wednesday. The business has a 50 day simple moving average of $46.13 and a 200-day simple moving average of $41.22. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $55.10. The company has a market capitalization of $29.81 billion, a price-to-earnings ratio of -29.91 and a beta of 1.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last issued its 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. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company earned ($0.45) earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that Roblox Co. will post -1.56 earnings per share for the current 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.