a16z Perennial Management L.P. Sells 7,665 Shares of Roblox Co. (NYSE:RBLX)

a16z Perennial Management L.P. lowered its position in Roblox Co. (NYSE:RBLX) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 235,453 shares of the company’s stock after selling 7,665 shares during the period. Roblox makes up 1.4% of a16z Perennial Management L.P.’s portfolio, making the stock its 11th largest holding. a16z Perennial Management L.P.’s holdings in Roblox were worth $13,623,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RBLX. Carrera Capital Advisors grew its holdings in shares of Roblox by 38.0% during the fourth quarter. Carrera Capital Advisors now owns 17,488 shares of the company’s stock valued at $1,012,000 after buying an additional 4,814 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Roblox by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,147,841 shares of the company’s stock valued at $124,274,000 after purchasing an additional 132,497 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Roblox by 236.3% during the 4th quarter. Plato Investment Management Ltd now owns 14,985 shares of the company’s stock worth $870,000 after purchasing an additional 10,529 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Roblox during the 4th quarter worth approximately $760,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Roblox by 3.5% in the fourth quarter. Jones Financial Companies Lllp now owns 14,039 shares of the company’s stock worth $812,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Wall Street Analyst Weigh In

RBLX has been the subject of several recent research reports. CICC Research started coverage on Roblox in a report on Tuesday, January 14th. They set an “outperform” rating for the company. Wedbush reiterated an “outperform” rating and issued a $83.00 target price on shares of Roblox in a report on Friday. Needham & Company LLC boosted their price target on shares of Roblox from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Moffett Nathanson downgraded Roblox from a “neutral” rating to a “sell” rating and set a $34.00 target price on the stock. in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average price target of $64.19.

Insider Transactions at Roblox

In other news, CAO Amy Marie Rawlings sold 3,601 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $49.32, for a total value of $177,601.32. Following the transaction, the chief accounting officer now owns 81,407 shares of the company’s stock, valued at $4,014,993.24. This represents a 4.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Baszucki sold 138,555 shares of Roblox stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the sale, the chief executive officer now directly owns 129,301 shares of the company’s stock, valued at $9,260,537.62. This represents a 51.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,306,335 shares of company stock valued at $77,348,316. 22.15% of the stock is currently owned by company insiders.

Roblox Trading Down 1.1 %

RBLX stock opened at $66.41 on Monday. The stock has a 50-day simple moving average of $62.47 and a two-hundred day simple moving average of $50.76. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $75.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 795.19%. As a group, sell-side analysts predict that Roblox Co. will post -1.4 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.