Pinnbrook Capital Management LP Invests $2 Million in Roblox Corporation $RBLX

Pinnbrook Capital Management LP purchased a new position in shares of Roblox Corporation (NYSE:RBLX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 14,399 shares of the company’s stock, valued at approximately $1,995,000.

Several other institutional investors have also added to or reduced their stakes in RBLX. Vanguard Group Inc. grew its holdings in Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock valued at $8,648,911,000 after buying an additional 3,284,073 shares in the last quarter. State Street Corp lifted its holdings in shares of Roblox by 6.3% during the second quarter. State Street Corp now owns 12,043,269 shares of the company’s stock worth $1,266,952,000 after buying an additional 708,838 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Roblox by 9.1% during the second quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock worth $1,053,257,000 after buying an additional 834,230 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Roblox by 3.0% in the second quarter. AQR Capital Management LLC now owns 9,032,411 shares of the company’s stock valued at $948,222,000 after acquiring an additional 261,984 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Roblox by 9.8% in the third quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company’s stock valued at $964,611,000 after acquiring an additional 619,048 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on RBLX. DA Davidson initiated coverage on shares of Roblox in a research report on Wednesday, March 4th. They set a “neutral” rating and a $65.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of Roblox from $180.00 to $140.00 and set a “buy” rating for the company in a report on Friday, February 6th. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of Roblox in a research report on Friday, February 6th. Wolfe Research set a $100.00 target price on shares of Roblox in a report on Monday, January 5th. Finally, Morgan Stanley dropped their price target on shares of Roblox from $155.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.35.

Roblox Trading Up 0.2%

Shares of Roblox stock opened at $56.42 on Friday. The company has a market capitalization of $37.33 billion, a price-to-earnings ratio of -36.40 and a beta of 1.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The firm’s 50-day moving average price is $69.85 and its two-hundred day moving average price is $97.63.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the company earned ($0.33) EPS. The business’s revenue for the quarter was up 122.6% compared to the same quarter last year. On average, analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, insider Arvind Chakravarthy sold 40,646 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew D. Kaufman sold 30,034 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total value of $2,181,970.10. Following the completion of the sale, the insider directly owned 307,263 shares in the company, valued at approximately $22,322,656.95. This represents a 8.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 703,144 shares of company stock valued at $51,681,640 over the last three months. 12.92% of the stock is owned by corporate insiders.

Roblox Company Profile

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.