Meridiem Capital Partners LP Makes New Investment in Roblox Corporation $RBLX

Meridiem Capital Partners LP bought a new stake in Roblox Corporation (NYSE:RBLX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 63,459 shares of the company’s stock, valued at approximately $8,790,000.

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

Insider Transactions at Roblox

In other news, insider Arvind Chakravarthy sold 40,646 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Matthew D. Kaufman sold 30,034 shares of the company’s 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 sale, the insider owned 307,263 shares in the company, valued at $22,322,656.95. The trade was a 8.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 703,144 shares of company stock valued at $51,681,640. 12.92% of the stock is currently owned by insiders.

Roblox Stock Performance

Shares of NYSE RBLX traded up $1.31 during trading on Friday, reaching $57.61. 1,107,572 shares of the stock traded hands, compared to its average volume of 12,592,908. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $38.12 billion, a P/E ratio of -37.23 and a beta of 1.62. Roblox Corporation has a 52-week low of $50.10 and a 52-week high of $150.59. The company has a 50-day moving average of $70.34 and a 200-day moving average of $98.10.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on RBLX. Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of Roblox in a report on Friday, February 6th. UBS Group set a $74.00 price objective on Roblox in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $115.00 target price on Roblox in a research note on Tuesday, January 20th. BMO Capital Markets reissued an “outperform” rating on shares of Roblox in a report on Friday, February 6th. Finally, Barclays reduced their price target on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $117.35.

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.