Cartenna Capital LP Acquires New Holdings in Roblox Corporation $RBLX

Cartenna Capital LP bought a new stake in Roblox Corporation (NYSE:RBLX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 185,000 shares of the company’s stock, valued at approximately $25,626,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Roblox in the 3rd quarter valued at $26,000. Total Investment Management Inc. bought a new stake in shares of Roblox in the 2nd quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Roblox during the 3rd quarter worth $37,000. Root Financial Partners LLC bought a new position in Roblox during the third quarter worth about $38,000. Finally, Salomon & Ludwin LLC bought a new position in Roblox during the third quarter worth about $41,000. 94.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RBLX shares. Needham & Company LLC lowered their price target on Roblox from $159.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 6th. DA Davidson began coverage on Roblox in a report on Wednesday, March 4th. They set a “neutral” rating and a $65.00 price objective on the stock. Freedom Capital upgraded Roblox from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Wolfe Research set a $100.00 target price on Roblox in a research note on Monday, January 5th. Finally, Piper Sandler restated an “overweight” rating and set a $100.00 target price (down from $125.00) on shares of 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.35.

Roblox Stock Up 0.2%

NYSE:RBLX opened at $56.42 on Friday. The stock has a 50-day simple moving average of $69.85 and a 200 day simple moving average of $97.43. Roblox Corporation has a 52-week low of $50.10 and a 52-week high of $150.59. The company has a market cap of $37.33 billion, a PE ratio of -36.40 and a beta of 1.62. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96.

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

Insider Buying and Selling

In other news, insider Matthew D. Kaufman sold 30,034 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total value of $2,181,970.10. Following the sale, the insider owned 307,263 shares of the company’s stock, valued at $22,322,656.95. The trade was a 8.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 60,000 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the transaction, the insider owned 394,322 shares of the company’s stock, valued at $25,212,948.68. The trade was a 13.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 703,144 shares of company stock valued at $51,681,640 over the last ninety days. Insiders own 12.92% of the company’s stock.

Roblox 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.