Sands Capital Management LLC Sells 419,787 Shares of Roblox Corporation $RBLX

Sands Capital Management LLC cut its position in Roblox Corporation (NYSE:RBLX) by 10.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,586,543 shares of the company’s stock after selling 419,787 shares during the quarter. Roblox comprises about 1.1% of Sands Capital Management LLC’s holdings, making the stock its 28th largest position. Sands Capital Management LLC owned about 0.56% of Roblox worth $377,304,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Roblox by 217.4% during the first quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company’s stock valued at $504,387,000 after purchasing an additional 6,007,322 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Roblox by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company’s stock valued at $3,359,854,000 after buying an additional 4,400,624 shares in the last quarter. Norges Bank purchased a new stake in shares of Roblox during the 2nd quarter valued at approximately $350,720,000. Ieq Capital LLC boosted its holdings in Roblox by 13.8% in the 1st quarter. Ieq Capital LLC now owns 18,889,973 shares of the company’s stock worth $1,101,097,000 after buying an additional 2,297,350 shares during the period. Finally, Amundi grew its stake in Roblox by 55.5% in the 1st quarter. Amundi now owns 4,960,806 shares of the company’s stock valued at $288,818,000 after buying an additional 1,769,669 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Buying and Selling at Roblox

In related news, Director Anthony P. Lee sold 66,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.54, for a total value of $6,107,640.00. Following the sale, the director owned 261,388 shares in the company, valued at $24,188,845.52. This represents a 20.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 10,584 shares of Roblox stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $95.24, for a total value of $1,008,020.16. Following the transaction, the chief executive officer owned 190,574 shares of the company’s stock, valued at $18,150,267.76. The trade was a 5.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 388,508 shares of company stock valued at $41,643,741 over the last three months. 12.92% of the stock is currently owned by corporate insiders.

Roblox Trading Down 0.0%

NYSE RBLX opened at $93.78 on Wednesday. The firm has a market capitalization of $61.41 billion, a PE ratio of -65.58 and a beta of 1.62. The stock’s 50 day moving average is $116.29 and its 200 day moving average is $114.24. Roblox Corporation has a twelve month low of $50.10 and a twelve month high of $150.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.54.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RBLX. Jefferies Financial Group lifted their target price on Roblox from $126.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, October 14th. UBS Group initiated coverage on Roblox in a report on Wednesday. They issued a “neutral” rating and a $103.00 price objective for the company. Morgan Stanley set a $170.00 target price on shares of Roblox and gave the stock an “overweight” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. lowered their price objective on Roblox from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Nineteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.78.

Roblox Company Profile

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.