Mane Global Capital Management LP Has $41.64 Million Stock Holdings in Roblox Corporation $RBLX

Mane Global Capital Management LP boosted its holdings in shares of Roblox Corporation (NYSE:RBLX) by 48.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 395,859 shares of the company’s stock after purchasing an additional 128,985 shares during the quarter. Roblox comprises approximately 1.8% of Mane Global Capital Management LP’s holdings, making the stock its 23rd largest position. Mane Global Capital Management LP’s holdings in Roblox were worth $41,644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBLX. AQR Capital Management LLC lifted its holdings in shares of Roblox by 217.4% during the first quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company’s stock worth $504,387,000 after buying an additional 6,007,322 shares during the last quarter. Norges Bank bought a new position in Roblox during the second quarter worth $350,720,000. Ieq Capital LLC raised its stake in Roblox by 13.8% during the 1st quarter. Ieq Capital LLC now owns 18,889,973 shares of the company’s stock valued at $1,101,097,000 after purchasing an additional 2,297,350 shares during the last quarter. Amundi raised its stake in Roblox by 55.5% during the 1st quarter. Amundi now owns 4,960,806 shares of the company’s stock valued at $288,818,000 after purchasing an additional 1,769,669 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in 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 during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RBLX. The Goldman Sachs Group upgraded shares of Roblox from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $155.00 to $180.00 in a report on Friday, October 31st. Citigroup boosted their price target on Roblox from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Piper Sandler set a $130.00 price objective on Roblox in a report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Roblox in a research note on Wednesday, October 8th. Twenty analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and an average target price of $135.96.

Insider Buying and Selling at Roblox

In related news, insider Arvind Chakravarthy sold 20,912 shares of Roblox stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $95.23, for a total value of $1,991,449.76. Following the completion of the transaction, the insider directly owned 181,043 shares of the company’s stock, valued at $17,240,724.89. The trade was a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 10,584 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $95.24, for a total transaction of $1,008,020.16. Following the transaction, the chief executive officer owned 190,574 shares in the company, valued at $18,150,267.76. The trade was a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 382,508 shares of company stock worth $40,838,541 over the last ninety days. Company insiders own 12.92% of the company’s stock.

Roblox Trading Down 4.3%

RBLX stock opened at $94.77 on Thursday. Roblox Corporation has a 1-year low of $50.10 and a 1-year high of $150.59. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54. The business’s 50 day moving average is $111.50 and its 200-day moving average is $114.61. The firm has a market cap of $62.06 billion, a P/E ratio of -66.27 and a beta of 1.62.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 30th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.07. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned ($0.37) EPS. Roblox’s revenue was up 70.3% on a year-over-year basis. Equities analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

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.