Concentric Capital Strategies LP Purchases New Stake in Roblox Corporation $RBLX

Concentric Capital Strategies LP purchased a new position in shares of Roblox Corporation (NYSE:RBLX) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 119,408 shares of the company’s stock, valued at approximately $16,540,000. Roblox accounts for about 0.7% of Concentric Capital Strategies LP’s portfolio, making the stock its 22nd largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Roblox in the second quarter valued at about $350,720,000. Vanguard Group Inc. lifted its holdings in shares of Roblox by 5.6% in the third quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after acquiring an additional 3,284,073 shares during the last quarter. Federated Hermes Inc. boosted its stake 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 purchasing an additional 1,646,871 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 purchasing an additional 1,531,380 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Roblox by 359.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock valued at $191,295,000 after purchasing an additional 1,422,894 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

Roblox Stock Up 0.2%

Shares of NYSE:RBLX opened at $56.42 on Friday. The firm has a market cap of $37.33 billion, a P/E ratio of -36.40 and a beta of 1.62. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The business has a fifty day simple moving average of $69.85 and a 200 day simple moving average of $97.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RBLX. Wolfe Research set a $100.00 price objective on shares of Roblox in a research report on Monday, January 5th. Wells Fargo & Company set a $97.00 target price on shares of Roblox in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of Roblox in a report on Tuesday, January 20th. B. Riley Financial started coverage on Roblox in a research note on Tuesday, December 9th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Roblox in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus price target of $117.35.

Insider Buying and Selling

In related news, Director Anthony P. Lee sold 59,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $79.96, for a total value of $4,717,640.00. Following the sale, the director directly owned 257,258 shares in the company, valued at $20,570,349.68. This represents a 18.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark Reinstra sold 60,000 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the sale, the insider directly owned 394,322 shares of the company’s stock, valued at $25,212,948.68. This represents 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 90 days. 12.92% of the stock is currently 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.