Assenagon Asset Management S.A. Sells 232,558 Shares of Roblox Co. (NYSE:RBLX)

Assenagon Asset Management S.A. trimmed its holdings in shares of Roblox Co. (NYSE:RBLX) by 83.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 46,018 shares of the company’s stock after selling 232,558 shares during the period. Assenagon Asset Management S.A.’s holdings in Roblox were worth $2,663,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. ValueAct Holdings L.P. grew its stake in Roblox by 340.7% during the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after buying an additional 7,835,921 shares during the last quarter. FMR LLC grew its position in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the last quarter. Dragoneer Investment Group LLC increased its holdings in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Roblox in the 3rd quarter valued at $107,491,000. Finally, Greenvale Capital LLP acquired a new position in Roblox in the second quarter worth $89,304,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction on Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at $5,722,073.25. This represents a 55.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,560,480 shares of company stock valued at $85,513,870 in the last quarter. Insiders own 22.15% of the company’s stock.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $65.98 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a market cap of $40.09 billion, a PE ratio of -40.23 and a beta of 1.43. The company’s 50 day moving average price is $57.83 and its two-hundred day moving average price is $48.21. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $66.86.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) earnings per share. Equities research analysts predict that Roblox Co. will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays upped their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Finally, CICC Research initiated coverage on Roblox in a research report on Tuesday, January 14th. They set an “outperform” rating for the company. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.48.

Roblox Profile

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.