ARK Investment Management LLC Sells 1,698,859 Shares of Roblox Co. (NYSE:RBLX)

ARK Investment Management LLC lowered its stake in shares of Roblox Co. (NYSE:RBLX) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,142,551 shares of the company’s stock after selling 1,698,859 shares during the period. Roblox makes up 4.9% of ARK Investment Management LLC’s investment portfolio, making the stock its 5th biggest holding. ARK Investment Management LLC owned about 1.67% of Roblox worth $586,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the last quarter. Frazier Financial Advisors LLC raised its holdings in shares of Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after acquiring an additional 624 shares during the last quarter. Huntington National Bank raised its holdings in shares of Roblox by 277.0% in the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after acquiring an additional 770 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Roblox by 29.2% in the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after acquiring an additional 271 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Roblox by 2,955.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,222 shares of the company’s stock worth $71,000 after acquiring an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Buying and Selling

In other Roblox news, insider Manuel Bronstein sold 44,888 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total value of $2,693,728.88. Following the sale, the insider now directly owns 573,266 shares in the company, valued at $34,401,692.66. This represents a 7.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony P. Lee sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $51.19, for a total transaction of $1,279,750.00. Following the completion of the sale, the director now owns 5,706,695 shares in the company, valued at $292,125,717.05. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,090,297 shares of company stock valued at $67,514,814. Company insiders own 22.15% of the company’s stock.

Roblox Stock Down 2.6 %

RBLX opened at $59.46 on Wednesday. The company has a 50 day moving average of $63.99 and a 200 day moving average of $52.89. The company has a market cap of $36.81 billion, a PE ratio of -41.01 and a beta of 1.46. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, sell-side analysts expect that Roblox Co. will post -1.49 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on RBLX. BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup upped their price objective on shares of Roblox from $63.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Roth Mkm upped their price objective on shares of Roblox from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, CICC Research initiated coverage on shares of Roblox in a research report on Tuesday, January 14th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.19.

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.