Monolith Management Ltd Invests $1.25 Million in Roblox Corporation $RBLX

Monolith Management Ltd acquired a new position in Roblox Corporation (NYSE:RBLX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,000 shares of the company’s stock, valued at approximately $1,247,000. Roblox comprises about 0.5% of Monolith Management Ltd’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Roblox in the second quarter valued at approximately $350,720,000. Vanguard Group Inc. lifted 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 buying an additional 3,284,073 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Roblox by 103.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock valued at $341,410,000 after buying an additional 1,646,871 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Roblox by 47.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock valued at $503,718,000 after buying an additional 1,531,380 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Roblox by 359.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock worth $191,295,000 after acquiring an additional 1,422,894 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Stock Performance

NYSE:RBLX opened at $58.76 on Wednesday. The firm’s 50 day moving average is $71.25 and its two-hundred day moving average is $98.66. Roblox Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59. 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 $38.88 billion, a P/E ratio of -37.91 and a beta of 1.62.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RBLX. The Goldman Sachs Group dropped their price objective on Roblox from $180.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, February 6th. BTIG Research restated a “buy” rating and issued a $141.00 price target on shares of Roblox in a research report on Friday, February 6th. Wall Street Zen cut Roblox from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Piper Sandler reiterated an “overweight” rating and issued a $100.00 target price (down from $125.00) on shares of Roblox in a research note on Friday, February 6th. Finally, Needham & Company LLC decreased 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. 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 given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $117.35.

Insider Buying and Selling

In other news, 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 completion of the transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arvind Chakravarthy sold 40,646 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is currently owned by insiders.

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.