RAM Investment Partners LLC Acquires New Position in Roblox Corporation $RBLX

RAM Investment Partners LLC bought a new stake in shares of Roblox Corporation (NYSE:RBLX) during the 3rd quarter, HoldingsChannel reports. The firm bought 62,482 shares of the company’s stock, valued at approximately $8,655,000. Roblox accounts for about 1.6% of RAM Investment Partners LLC’s portfolio, making the stock its 11th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Roblox by 2.6% in the second quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock valued at $6,222,993,000 after purchasing an additional 1,513,608 shares in the last quarter. SG Americas Securities LLC raised its position in Roblox by 298.4% during the 3rd quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock valued at $45,617,000 after purchasing an additional 246,652 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Roblox during the second quarter valued at about $120,041,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Roblox in the third quarter valued at about $2,895,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Roblox by 14.5% during the second quarter. Teacher Retirement System of Texas now owns 81,314 shares of the company’s stock worth $8,554,000 after buying an additional 10,325 shares during the period. Institutional investors own 94.46% of the company’s stock.

Insider Activity

In other Roblox news, Director Anthony P. Lee sold 7,000 shares of Roblox stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total value of $577,150.00. Following the completion of the sale, the director directly owned 256,768 shares in the company, valued at $21,170,521.60. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Naveen K. Chopra sold 19,424 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $95.23, for a total value of $1,849,747.52. Following the transaction, the chief financial officer directly owned 337,036 shares in the company, valued at approximately $32,095,938.28. This represents a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 504,300 shares of company stock valued at $46,290,436 in the last ninety days. 12.92% of the stock is owned by company insiders.

Roblox Price Performance

Shares of Roblox stock opened at $72.18 on Wednesday. Roblox Corporation has a twelve month low of $50.10 and a twelve month high of $150.59. The business’s fifty day moving average price is $85.21 and its 200 day moving average price is $110.64. The stock has a market capitalization of $47.27 billion, a P/E ratio of -50.48 and a beta of 1.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.07. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 70.3% on a year-over-year basis. As a group, research analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RBLX shares. JPMorgan Chase & Co. cut shares of Roblox from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $100.00 in a research note on Friday, December 12th. Wells Fargo & Company reduced their target price on shares of Roblox from $141.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Benchmark reaffirmed a “hold” rating on shares of Roblox in a research report on Friday, October 31st. Piper Sandler restated an “overweight” rating and issued a $125.00 price target on shares of Roblox in a research note on Tuesday. Finally, TD Cowen restated a “sell” rating on shares of Roblox in a research note on Tuesday. Seventeen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and a consensus price target of $133.77.

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.