Roblox Corporation $RBLX Shares Sold by Hidden Lake Asset Management LP

Hidden Lake Asset Management LP reduced its stake in Roblox Corporation (NYSE:RBLX) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,917 shares of the company’s stock after selling 29,173 shares during the period. Roblox accounts for about 1.8% of Hidden Lake Asset Management LP’s holdings, making the stock its 4th biggest position. Hidden Lake Asset Management LP’s holdings in Roblox were worth $13,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Roblox during the 3rd quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Roblox in the 3rd quarter valued at $37,000. Total Investment Management Inc. acquired a new stake in Roblox during the 2nd quarter worth $29,000. Root Financial Partners LLC purchased a new stake in Roblox in the third quarter valued at $38,000. Finally, Salomon & Ludwin LLC purchased a new stake in Roblox in the third quarter valued at $41,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

Shares of RBLX opened at $56.42 on Monday. 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 Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59. The firm has a 50-day simple moving average of $69.85 and a 200-day simple moving average of $97.25. The company has a market capitalization of $37.33 billion, a price-to-earnings ratio of -36.40 and a beta of 1.62.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, beating 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 firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business earned ($0.33) EPS. The firm’s revenue was up 122.6% compared to the same quarter last year. On average, equities research analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

RBLX has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Roblox in a report on Friday, February 6th. Barclays reduced their target price on Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $100.00 price target (down from $125.00) on shares of Roblox in a research note on Friday, February 6th. JPMorgan Chase & Co. cut their price target on Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, February 6th. Finally, Citigroup reduced their price objective on Roblox from $152.00 to $119.00 and set a “buy” rating for the company in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.35.

Insider Buying and Selling at Roblox

In other Roblox news, Director Anthony P. Lee sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total transaction of $577,150.00. Following the completion of the transaction, the director owned 256,768 shares in the company, valued at approximately $21,170,521.60. This represents a 2.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Baszucki sold 10,834 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $61.63, for a total value of $667,699.42. Following the completion of the sale, the chief executive officer directly owned 800,539 shares in the company, valued at $49,337,218.57. This trade represents a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 703,144 shares of company stock valued at $51,681,640. Corporate insiders own 12.92% of the company’s stock.

About Roblox

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.