Sands Capital Management LLC Reduces Position in Roblox Corporation $RBLX

Sands Capital Management LLC lessened its holdings in shares of Roblox Corporation (NYSE:RBLX) by 3.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,476,488 shares of the company’s stock after selling 110,055 shares during the quarter. Roblox comprises approximately 1.3% of Sands Capital Management LLC’s portfolio, making the stock its 27th biggest holding. Sands Capital Management LLC’s holdings in Roblox were worth $481,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RBLX. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Roblox during the 3rd quarter valued at approximately $26,000. Total Investment Management Inc. purchased a new stake in shares of Roblox during the second quarter worth $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Roblox during the third quarter worth $37,000. Root Financial Partners LLC bought a new position in shares of Roblox in the third quarter worth $38,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Roblox in the third quarter valued at $41,000. Institutional investors own 94.46% of the company’s stock.

Roblox Stock Down 6.2%

Shares of NYSE:RBLX opened at $58.76 on Wednesday. The firm has a market capitalization of $38.88 billion, a PE ratio of -37.91 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 Corporation has a 52-week low of $50.10 and a 52-week high of $150.59. The firm has a fifty day moving average of $71.25 and a 200 day moving average of $98.66.

Roblox (NYSE:RBLX) last issued its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The company’s revenue was up 122.6% compared to the same quarter last year. As a group, research analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, insider Matthew D. Kaufman sold 30,034 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the transaction, the insider directly owned 307,263 shares in the company, valued at $22,322,656.95. This trade represents a 8.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony P. Lee sold 7,000 shares of Roblox 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 transaction, the director directly owned 256,768 shares in the company, valued at $21,170,521.60. This trade represents a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 703,144 shares of company stock valued at $51,681,640 over the last 90 days. Company insiders own 12.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RBLX shares. Jefferies Financial Group set a $85.00 target price on Roblox in a research note on Thursday, January 15th. JPMorgan Chase & Co. cut their price objective on shares of Roblox from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Monday, December 29th. Wall Street Zen cut shares of Roblox from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, The Goldman Sachs Group cut their price target on shares of Roblox from $180.00 to $140.00 and set a “buy” rating for the company in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.