Potrero Capital Research LLC Takes $1.30 Million Position in Roblox Co. (NYSE:RBLX)

Potrero Capital Research LLC acquired a new position in shares of Roblox Co. (NYSE:RBLX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $1,297,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Zimmer Partners LP acquired a new stake in shares of Roblox during the first quarter worth $21,070,000. Point72 Asset Management L.P. acquired a new stake in shares of Roblox during the first quarter worth $3,056,000. Morgan Stanley acquired a new stake in shares of Roblox during the first quarter worth $329,231,000. Tudor Investment Corp Et Al acquired a new stake in Roblox in the first quarter worth $288,000. Finally, Perigon Wealth Management LLC acquired a new stake in Roblox in the first quarter worth $544,000. Institutional investors own 32.64% of the company’s stock.

RBLX stock traded up $0.62 during mid-day trading on Thursday, hitting $80.53. The company had a trading volume of 65,571 shares, compared to its average volume of 7,084,906. Roblox Co. has a 12 month low of $60.50 and a 12 month high of $103.87. The firm’s fifty day moving average is $86.10.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Sunday, May 9th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.59). The business had revenue of $387.00 million for the quarter, compared to analyst estimates of $490.90 million. The business’s revenue for the quarter was up 139.5% on a year-over-year basis. As a group, analysts expect that Roblox Co. will post 0.83 earnings per share for the current year.

In other Roblox news, insider Brett Tolley sold 1,048 shares of the business’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $89.50, for a total value of $93,796.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Daniel Sturman sold 42,658 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $100.01, for a total transaction of $4,266,226.58. Following the completion of the transaction, the chief technology officer now directly owns 101,394 shares of the company’s stock, valued at approximately $10,140,413.94. The disclosure for this sale can be found here. Insiders sold 655,177 shares of company stock valued at $62,047,378 in the last quarter.

A number of research firms have commented on RBLX. Zacks Investment Research upgraded shares of Roblox from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Roblox in a report on Tuesday, May 4th. They issued an “overweight” rating and a $85.00 price target for the company. Morgan Stanley lifted their price objective on shares of Roblox from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, May 11th. Benchmark assumed coverage on shares of Roblox in a report on Tuesday, July 13th. They set a “sell” rating and a $75.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Roblox in a report on Monday, April 5th. They set a “buy” rating and a $81.00 price objective for the company. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Roblox presently has an average rating of “Buy” and a consensus target price of $85.11.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform. It offers Roblox Client, an application that allows users to explore 3D digital worlds; and Roblox Studio, a toolset that allows developers and creators to build, publish, and operate 3D experiences and other content. The company also provides Roblox Cloud, a solution that provides services and infrastructure to power the human co-experience platform.

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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