Graham Capital Management L.P. Makes New $5.68 Million Investment in Roblox Co. (NYSE:RBLX)

Graham Capital Management L.P. purchased a new stake in Roblox Co. (NYSE:RBLX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 98,094 shares of the company’s stock, valued at approximately $5,676,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RBLX. Focus Partners Wealth increased its holdings in Roblox by 90.7% during the 4th quarter. Focus Partners Wealth now owns 18,822 shares of the company’s stock valued at $1,106,000 after acquiring an additional 8,953 shares in the last quarter. Foxhaven Asset Management LP grew its position in shares of Roblox by 45.8% in the fourth quarter. Foxhaven Asset Management LP now owns 3,009,254 shares of the company’s stock valued at $174,115,000 after purchasing an additional 945,811 shares during the last quarter. Fred Alger Management LLC increased its stake in shares of Roblox by 37.8% during the 4th quarter. Fred Alger Management LLC now owns 348,966 shares of the company’s stock worth $20,191,000 after purchasing an additional 95,710 shares in the last quarter. Durable Capital Partners LP acquired a new position in shares of Roblox during the 4th quarter worth approximately $246,560,000. Finally, Colonial Trust Co SC purchased a new stake in Roblox in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

RBLX opened at $71.89 on Friday. The company has a 50 day moving average of $60.65 and a two-hundred day moving average of $59.42. Roblox Co. has a 52-week low of $30.56 and a 52-week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company has a market cap of $45.18 billion, a P/E ratio of -49.58 and a beta of 1.46.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned ($0.43) EPS. The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, analysts expect that Roblox Co. will post -1.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RBLX shares. Canaccord Genuity Group raised their price target on Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Benchmark lifted their price objective on Roblox from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Roth Mkm upped their target price on shares of Roblox from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. CICC Research started coverage on shares of Roblox in a report on Tuesday, January 14th. They set an “outperform” rating for the company. Finally, Oppenheimer boosted their price objective on shares of Roblox from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and an average price target of $67.91.

Insiders Place Their Bets

In other Roblox news, insider Matthew D. Kaufman sold 12,000 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $71.83, for a total value of $861,960.00. Following the completion of the transaction, the insider now directly owns 352,244 shares of the company’s stock, valued at $25,301,686.52. This represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Reinstra sold 19,525 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total value of $1,287,478.50. Following the completion of the transaction, the insider now owns 339,206 shares in the company, valued at approximately $22,367,243.64. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,164,386 shares of company stock worth $146,492,013 in the last 90 days. 22.15% of the stock is owned by company insiders.

About Roblox

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.