Roblox Corporation $RBLX is Kora Management LP’s 5th Largest Position

Kora Management LP decreased its position in shares of Roblox Corporation (NYSE:RBLX) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 461,400 shares of the company’s stock after selling 25,600 shares during the quarter. Roblox makes up 6.8% of Kora Management LP’s holdings, making the stock its 5th largest holding. Kora Management LP owned about 0.07% of Roblox worth $63,913,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RBLX. WPG Advisers LLC lifted its stake in Roblox by 17.8% in the third quarter. WPG Advisers LLC now owns 555 shares of the company’s stock worth $77,000 after acquiring an additional 84 shares during the period. Baird Financial Group Inc. increased its position in Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after purchasing an additional 102 shares during the period. Lido Advisors LLC increased its position in Roblox by 1.3% during the 2nd quarter. Lido Advisors LLC now owns 8,529 shares of the company’s stock valued at $897,000 after purchasing an additional 106 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Roblox by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock valued at $560,000 after purchasing an additional 110 shares in the last quarter. Finally, QTR Family Wealth LLC raised its holdings in shares of Roblox by 2.6% in the 3rd quarter. QTR Family Wealth LLC now owns 4,446 shares of the company’s stock valued at $616,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Activity

In related news, insider Arvind Chakravarthy sold 40,646 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Baszucki sold 10,834 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $61.63, for a total value of $667,699.42. Following the transaction, the chief executive officer directly owned 800,539 shares in the company, valued at $49,337,218.57. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 703,144 shares of company stock worth $51,681,640. Company insiders own 12.92% of the company’s stock.

Analyst Ratings Changes

RBLX has been the topic of a number of recent research reports. Jefferies Financial Group set a $85.00 price objective on shares of Roblox in a research note on Thursday, January 15th. The Goldman Sachs Group reduced their price objective on shares of Roblox from $180.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Oppenheimer lowered their target price on Roblox from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 6th. DA Davidson began coverage on Roblox in a research report on Wednesday, March 4th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, UBS Group set a $74.00 price target on Roblox in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.35.

Roblox Stock Up 4.8%

Shares of Roblox stock opened at $59.12 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. The company has a market cap of $39.12 billion, a P/E ratio of -38.14 and a beta of 1.62. The firm’s 50 day moving average price is $69.41 and its 200-day moving average price is $96.78. Roblox Corporation has a 52-week low of $50.10 and a 52-week high of $150.59.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Roblox’s revenue for the quarter was up 122.6% compared to the same quarter last year. On average, sell-side analysts predict that Roblox Corporation will post -1.49 EPS for the current fiscal year.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.