Readystate Asset Management LP Grows Stock Holdings in Roblox Corporation $RBLX

Readystate Asset Management LP grew its holdings in shares of Roblox Corporation (NYSE:RBLX) by 685.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 377,201 shares of the company’s stock after acquiring an additional 329,201 shares during the quarter. Readystate Asset Management LP owned 0.06% of Roblox worth $20,512,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management bought a new stake in Roblox during the 1st quarter valued at $25,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Roblox during the fourth quarter worth about $27,000. Basecamp Wealth Advisors LLC grew its stake in shares of Roblox by 98.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock worth $29,000 after purchasing an additional 252 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of Roblox by 76.3% in the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Finally, Root Financial Partners LLC raised its position in Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock valued at $32,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Analyst Ratings Changes

RBLX has been the subject of several research reports. Oppenheimer decreased their target price on Roblox from $82.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Raymond James Financial began coverage on shares of Roblox in a report on Monday, June 29th. They issued a “market perform” rating for the company. Cantor Fitzgerald assumed coverage on Roblox in a research note on Monday, June 29th. They issued an “overweight” rating for the company. Wedbush downgraded Roblox from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $65.00 to $40.00 in a report on Friday, July 31st. Finally, Needham & Company LLC dropped their price objective on Roblox from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.89.

Roblox Stock Down 0.2%

Shares of RBLX stock opened at $43.21 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. The stock has a market cap of $28.95 billion, a P/E ratio of -30.22 and a beta of 1.47. Roblox Corporation has a 12 month low of $33.88 and a 12 month high of $142.00. The company has a 50 day simple moving average of $45.46 and a two-hundred day simple moving average of $50.74.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.08. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.Roblox’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, research analysts expect that Roblox Corporation will post -1.39 earnings per share for the current year.

Roblox declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 9.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 52,568 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $1,995,481.28. Following the completion of the transaction, the chief executive officer directly owned 799,646 shares of the company’s stock, valued at approximately $30,354,562.16. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Buckley sold 4,321 shares of Roblox stock in a transaction on Monday, August 24th. The shares were sold at an average price of $38.68, for a total transaction of $167,136.28. Following the completion of the sale, the insider owned 87,213 shares in the company, valued at approximately $3,373,398.84. This represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 179,463 shares of company stock valued at $7,280,012. 10.05% of the stock is currently owned by corporate insiders.

Roblox Company 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.