JAT Capital Mgmt LP Acquires 420,000 Shares of Roblox Co. (NYSE:RBLX)

JAT Capital Mgmt LP lifted its stake in shares of Roblox Co. (NYSE:RBLX) by 210.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 620,000 shares of the company’s stock after purchasing an additional 420,000 shares during the period. Roblox accounts for 4.4% of JAT Capital Mgmt LP’s holdings, making the stock its 10th biggest position. JAT Capital Mgmt LP owned about 0.10% of Roblox worth $27,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC increased its holdings in Roblox by 3.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock valued at $298,000 after buying an additional 245 shares during the period. Swedbank AB lifted its stake in shares of Roblox by 0.5% in the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after acquiring an additional 285 shares during the period. Metis Global Partners LLC increased its position in shares of Roblox by 5.0% during the third quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock worth $266,000 after buying an additional 288 shares during the period. Thrive Wealth Management LLC grew its stake in Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after purchasing an additional 300 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Roblox by 5.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on RBLX shares. Canaccord Genuity Group upped their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup boosted their target price on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC lifted their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark raised their target price on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BTIG Research boosted their price objective on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

Insider Transactions at Roblox

In related news, insider Manuel Bronstein sold 40,739 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $45.00, for a total value of $1,833,255.00. Following the transaction, the insider now directly owns 727,485 shares of the company’s stock, valued at approximately $32,736,825. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the sale, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at $4,817,179.80. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,013,607 shares of company stock worth $48,434,122 in the last 90 days. 22.15% of the stock is currently owned by insiders.

Roblox Price Performance

Shares of RBLX opened at $50.15 on Friday. The firm has a market cap of $30.47 billion, a PE ratio of -30.58 and a beta of 1.56. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $55.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a fifty day simple moving average of $46.35 and a two-hundred day simple moving average of $41.46.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. The firm had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.45) EPS. On average, equities analysts anticipate that Roblox Co. will post -1.56 EPS for the current year.

Roblox Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.