Trexquant Investment LP Lowers Holdings in Roblox Co. (NYSE:RBLX)

Trexquant Investment LP reduced its stake in Roblox Co. (NYSE:RBLX) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 589,707 shares of the company’s stock after selling 5,211 shares during the period. Roblox makes up 0.4% of Trexquant Investment LP’s portfolio, making the stock its 20th biggest position. Trexquant Investment LP owned approximately 0.10% of Roblox worth $34,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RBLX. Wealthfront Advisers LLC grew its position in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after purchasing an additional 17,312,325 shares during the last quarter. ValueAct Holdings L.P. raised its holdings in Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after acquiring an additional 7,835,921 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Roblox by 1,084.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock worth $278,500,000 after acquiring an additional 4,406,885 shares during the last quarter. Ieq Capital LLC lifted its position in Roblox by 26.8% in the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after acquiring an additional 3,507,901 shares in the last quarter. Finally, Norges Bank purchased a new stake in Roblox during the 4th quarter valued at $167,211,000. 94.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Anthony P. Lee sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the sale, the director now directly owns 6,254,137 shares of the company’s stock, valued at $406,769,070.48. This represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Baszucki sold 34,099 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the completion of the transaction, the chief executive officer now directly owns 221,983 shares of the company’s stock, valued at approximately $12,664,130.15. This trade represents a 13.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 926,466 shares of company stock worth $60,212,297. 22.15% of the stock is owned by insiders.

Roblox Stock Down 1.2 %

RBLX opened at $58.36 on Tuesday. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The stock has a market cap of $36.13 billion, a price-to-earnings ratio of -40.25 and a beta of 1.49. The firm’s fifty day moving average is $63.07 and its 200 day moving average is $55.65.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. On average, sell-side analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RBLX has been the topic of a number of research analyst reports. FBN Securities initiated coverage on Roblox in a report on Friday. They set a “sector perform” rating and a $65.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 price target (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. Benchmark reiterated a “buy” rating and issued a $71.00 price target on shares of Roblox in a research note on Tuesday, March 18th. Wedbush restated an “outperform” rating and set a $83.00 price objective on shares of Roblox in a research report on Friday, February 7th. Finally, Morgan Stanley lifted their target price on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.23.

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.