Readystate Asset Management LP Makes New Investment in Roblox Co. (NYSE:RBLX)

Readystate Asset Management LP purchased a new position in shares of Roblox Co. (NYSE:RBLX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 353,380 shares of the company’s stock, valued at approximately $16,157,000. Readystate Asset Management LP owned 0.06% of Roblox at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of Roblox by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 788,954 shares of the company’s stock worth $36,481,000 after acquiring an additional 39,203 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Roblox by 7.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 18,574 shares of the company’s stock worth $860,000 after acquiring an additional 1,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Roblox by 949.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,062 shares of the company’s stock worth $928,000 after acquiring an additional 18,150 shares in the last quarter. BlackRock Inc. boosted its position in shares of Roblox by 265.4% during the 1st quarter. BlackRock Inc. now owns 311,209 shares of the company’s stock worth $14,390,000 after acquiring an additional 226,029 shares in the last quarter. Finally, Cibc World Market Inc. boosted its position in shares of Roblox by 62.0% during the 1st quarter. Cibc World Market Inc. now owns 92,495 shares of the company’s stock worth $4,277,000 after acquiring an additional 35,412 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Stock Performance

Shares of RBLX stock traded down $0.27 during trading hours on Wednesday, reaching $36.37. 4,119,788 shares of the company’s stock were exchanged, compared to its average volume of 7,591,085. The company has a market cap of $21.50 billion, a P/E ratio of -19.45 and a beta of 1.63. The company’s 50 day moving average is $39.69 and its two-hundred day moving average is $38.78. Roblox Co. has a 1 year low of $24.88 and a 1 year high of $47.20. The company has a debt-to-equity ratio of 14.64, a current ratio of 1.07 and a quick ratio of 1.07.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted ($0.48) EPS. Roblox’s quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts anticipate that Roblox Co. will post -2.1 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, Director Gregory Baszucki sold 8,333 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $41.17, for a total transaction of $343,069.61. Following the sale, the director now owns 9,786,603 shares in the company, valued at approximately $402,914,445.51. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the transaction, the chief executive officer now owns 1 shares in the company, valued at $44.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gregory Baszucki sold 8,333 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $41.17, for a total value of $343,069.61. Following the completion of the transaction, the director now directly owns 9,786,603 shares in the company, valued at $402,914,445.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 703,707 shares of company stock worth $29,379,607. 27.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RBLX has been the subject of several analyst reports. Roth Mkm upped their price objective on Roblox from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Needham & Company LLC upped their target price on Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. The Goldman Sachs Group raised Roblox from a “sell” rating to a “neutral” rating and upped their target price for the company from $35.00 to $48.00 in a research report on Thursday, February 8th. Benchmark reissued a “buy” rating and issued a $46.00 target price on shares of Roblox in a research report on Tuesday, January 23rd. Finally, Barclays raised Roblox from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $26.00 to $46.00 in a research report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $46.25.

About Roblox

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.