Westfield Capital Management Co. LP Has $164.78 Million Position in Roblox Corporation $RBLX

Westfield Capital Management Co. LP lifted its stake in Roblox Corporation (NYSE:RBLX) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,189,575 shares of the company’s stock after acquiring an additional 48,502 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.18% of Roblox worth $164,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pilgrim Partners Asia Pte Ltd acquired a new position in Roblox in the 3rd quarter worth about $26,000. Total Investment Management Inc. acquired a new stake in Roblox in the second quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Roblox in the third quarter worth approximately $37,000. Root Financial Partners LLC acquired a new position in shares of Roblox during the 3rd quarter worth $38,000. Finally, Salomon & Ludwin LLC bought a new position in shares of Roblox during the 3rd quarter valued at $41,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Freedom Capital upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. The Goldman Sachs Group decreased their price target on Roblox from $180.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, February 6th. 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 objective on the stock. Jefferies Financial Group set a $85.00 target price on Roblox in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average target price of $119.44.

Roblox Price Performance

NYSE RBLX opened at $68.16 on Thursday. The stock has a 50-day simple moving average of $74.15 and a 200 day simple moving average of $102.35. Roblox Corporation has a twelve month low of $50.10 and a twelve month high of $150.59. The stock has a market capitalization of $45.10 billion, a PE ratio of -43.97 and a beta of 1.63. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96.

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

Insider Activity

In related news, insider Mark Reinstra sold 60,000 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the transaction, the insider directly owned 394,322 shares in the company, valued at $25,212,948.68. The trade was a 13.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 272,269 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total value of $19,783,065.54. Following the completion of the transaction, the chief executive officer directly owned 811,373 shares of the company’s stock, valued at approximately $58,954,362.18. This trade represents a 25.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 769,144 shares of company stock worth $57,789,280. Corporate insiders own 12.92% of the company’s stock.

Roblox Profile

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.