Havemeyer Place LP Invests $2.08 Million in Roblox Corporation $RBLX

Havemeyer Place LP bought a new position in Roblox Corporation (NYSE:RBLX) in the 4th quarter, HoldingsChannel reports. The fund bought 25,643 shares of the company’s stock, valued at approximately $2,078,000.

Several other hedge funds and other institutional investors have also modified their holdings of RBLX. Vanguard Group Inc. boosted its position in Roblox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock valued at $5,142,065,000 after purchasing an additional 1,020,786 shares during the last quarter. State Street Corp boosted its position in Roblox by 11.0% during the third quarter. State Street Corp now owns 13,369,844 shares of the company’s stock valued at $1,851,991,000 after purchasing an additional 1,326,575 shares during the last quarter. Geode Capital Management LLC boosted its position in Roblox by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock valued at $988,002,000 after purchasing an additional 547,103 shares during the last quarter. AQR Capital Management LLC boosted its position in Roblox by 7.4% during the third quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company’s stock valued at $1,310,719,000 after purchasing an additional 665,127 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Roblox by 9.8% during the third quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company’s stock valued at $964,611,000 after purchasing an additional 619,048 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

Shares of NYSE:RBLX opened at $41.92 on Friday. Roblox Corporation has a fifty-two week low of $40.15 and a fifty-two week high of $150.59. The business has a 50-day moving average of $51.24 and a two-hundred day moving average of $67.43. The stock has a market capitalization of $28.15 billion, a P/E ratio of -26.53 and a beta of 1.44. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.89 and a quick ratio of 0.89.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. On average, equities research analysts predict that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox declared that its board has approved a share repurchase program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RBLX. Citigroup reduced their price objective on Roblox from $90.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Jefferies Financial Group cut Roblox from a “hold” rating to a “hold” rating in a research report on Friday, May 1st. Oppenheimer began coverage on Roblox in a research report on Friday, May 1st. They set an “outperform” rating for the company. TD Cowen raised Roblox from a “sell” rating to a “hold” rating and reduced their price objective for the company from $54.00 to $49.00 in a research report on Friday, May 1st. Finally, Barclays reduced their price objective on Roblox from $115.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Roblox has a consensus rating of “Hold” and a consensus target price of $87.07.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 50,628 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $2,292,435.84. Following the completion of the sale, the chief executive officer owned 852,214 shares of the company’s stock, valued at $38,588,249.92. The trade was a 5.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Jack Buckley sold 4,744 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $46.36, for a total value of $219,931.84. Following the completion of the sale, the insider directly owned 97,141 shares of the company’s stock, valued at $4,503,456.76. This represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 183,471 shares of company stock valued at $8,930,068. 10.05% of the stock is owned by corporate insiders.

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.