Long Corridor Asset Management Ltd Reduces Stake in Roblox Corporation $RBLX

Long Corridor Asset Management Ltd trimmed its stake in Roblox Corporation (NYSE:RBLX) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,800 shares of the company’s stock after selling 26,200 shares during the quarter. Roblox makes up about 5.5% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 7th biggest holding. Long Corridor Asset Management Ltd’s holdings in Roblox were worth $13,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its stake in shares of Roblox by 2.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after purchasing an additional 231 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Roblox by 70.2% during the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock worth $1,368,000 after buying an additional 5,363 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Roblox by 74.8% during the second quarter. Envestnet Asset Management Inc. now owns 117,031 shares of the company’s stock worth $12,312,000 after buying an additional 50,087 shares during the last quarter. Atria Investments Inc bought a new stake in Roblox during the second quarter worth $217,000. Finally, Sigma Planning Corp bought a new stake in Roblox during the second quarter worth $421,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

NYSE:RBLX opened at $63.45 on Friday. The company has a market cap of $41.98 billion, a P/E ratio of -40.94 and a beta of 1.62. The firm’s fifty day moving average price is $72.09 and its two-hundred day moving average price is $99.58. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping 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 last year, the company posted ($0.33) EPS. Roblox’s quarterly revenue was up 122.6% compared to the same quarter last year. Equities analysts expect that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RBLX. Oppenheimer decreased their price objective on shares of Roblox from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Needham & Company LLC dropped their target price on shares of Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 6th. UBS Group set a $74.00 target price on shares of Roblox in a research note on Friday, February 6th. Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of Roblox in a report on Friday, February 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Roblox in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.35.

Insider Activity

In other news, Director Anthony P. Lee sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $82.45, for a total transaction of $577,150.00. Following the completion of the sale, the director owned 256,768 shares in the company, valued at $21,170,521.60. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Arvind Chakravarthy sold 40,646 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 703,144 shares of company stock valued at $51,681,640. Company insiders own 12.92% of the company’s stock.

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.