JAT Capital Mgmt LP Has $27.44 Million Stake in Roblox Co. (NYSE:RBLX)

JAT Capital Mgmt LP grew its position in Roblox Co. (NYSE:RBLX) by 210.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 620,000 shares of the company’s stock after acquiring an additional 420,000 shares during the quarter. Roblox accounts for 4.4% of JAT Capital Mgmt LP’s portfolio, making the stock its 10th biggest holding. JAT Capital Mgmt LP’s holdings in Roblox were worth $27,441,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RBLX. Impact Partnership Wealth LLC increased its stake in Roblox by 3.8% during the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after acquiring an additional 245 shares during the last quarter. Swedbank AB boosted its position in Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after buying an additional 285 shares during the period. Metis Global Partners LLC increased its holdings in Roblox by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock worth $266,000 after purchasing an additional 288 shares during the period. Thrive Wealth Management LLC increased its stake in shares of Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Roblox by 5.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after purchasing an additional 321 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RBLX shares. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up from $56.00) on shares of Roblox in a report on Friday, November 1st. Piper Sandler upped their target price on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on shares of Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. BTIG Research upped their price objective on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Benchmark raised their price objective on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Stock Up 1.6 %

RBLX opened at $50.15 on Friday. The company has a market cap of $30.47 billion, a PE ratio of -30.58 and a beta of 1.56. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10. The firm has a 50 day moving average price of $46.35 and a 200 day moving average price of $41.46.

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

Insider Transactions at Roblox

In other Roblox news, insider Manuel Bronstein sold 10,492 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $49.45, for a total transaction of $518,829.40. Following the completion of the transaction, the insider now directly owns 618,154 shares of the company’s stock, valued at $30,567,715.30. This trade represents a 1.67 % 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, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction 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 trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,013,607 shares of company stock valued at $48,434,122. Corporate insiders own 22.15% of the company’s stock.

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.