Long Corridor Asset Management Ltd Has $13.41 Million Stake in Roblox Corporation $RBLX

Long Corridor Asset Management Ltd trimmed its holdings in shares of Roblox Corporation (NYSE:RBLX) by 21.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,800 shares of the company’s stock after selling 26,200 shares during the quarter. Roblox comprises about 5.5% of Long Corridor Asset Management Ltd’s investment portfolio, making the stock its 7th largest holding. Long Corridor Asset Management Ltd’s holdings in Roblox were worth $13,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RBLX. Vanguard Group Inc. grew its position in shares of Roblox by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after purchasing an additional 3,284,073 shares in the last quarter. State Street Corp raised its position in shares of Roblox by 6.3% in the second quarter. State Street Corp now owns 12,043,269 shares of the company’s stock valued at $1,266,952,000 after buying an additional 708,838 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Roblox by 9.1% in the second quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock valued at $1,053,257,000 after buying an additional 834,230 shares during the period. AQR Capital Management LLC boosted its stake in shares of Roblox by 3.0% in the second quarter. AQR Capital Management LLC now owns 9,032,411 shares of the company’s stock valued at $948,222,000 after buying an additional 261,984 shares during the period. Finally, Franklin Resources Inc. grew its position in Roblox by 9.9% during the second quarter. Franklin Resources Inc. now owns 6,344,645 shares of the company’s stock worth $667,457,000 after buying an additional 570,018 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Activity

In related news, insider Mark Reinstra sold 60,000 shares of Roblox stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the sale, the insider directly owned 394,322 shares of the company’s stock, valued at approximately $25,212,948.68. The trade was a 13.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Matthew D. Kaufman sold 30,034 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the transaction, the insider owned 307,263 shares of the company’s stock, valued at approximately $22,322,656.95. This represents a 8.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 703,144 shares of company stock valued at $51,681,640. Corporate insiders own 12.92% of the company’s stock.

Roblox Trading Down 4.0%

Shares of RBLX opened at $63.45 on Friday. Roblox Corporation has a 52-week low of $50.10 and a 52-week high of $150.59. The business’s fifty day moving average is $72.09 and its 200-day moving average is $99.58. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $41.98 billion, a price-to-earnings ratio of -40.94 and a beta of 1.62.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.Roblox’s revenue for the quarter was up 122.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.33) EPS. Equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RBLX shares. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 price objective (down from $125.00) on shares of Roblox in a report on Friday, February 6th. Benchmark restated a “hold” rating on shares of Roblox in a research report on Monday, February 2nd. BTIG Research reaffirmed a “buy” rating and issued a $141.00 price target on shares of Roblox in a research note on Friday, February 6th. The Goldman Sachs Group cut their price objective on shares of Roblox from $180.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, Canaccord Genuity Group reduced their price objective on shares of Roblox from $160.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average target price of $117.35.

Roblox Company Profile

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.