Balyasny Asset Management L.P. Buys 779,808 Shares of Roblox Co. (NYSE:RBLX)

Balyasny Asset Management L.P. increased its stake in Roblox Co. (NYSE:RBLXFree Report) by 80.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,752,393 shares of the company’s stock after acquiring an additional 779,808 shares during the period. Balyasny Asset Management L.P. owned about 0.31% of Roblox worth $80,119,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock valued at $1,291,414,000 after purchasing an additional 10,025,779 shares during the period. Morgan Stanley grew its holdings in shares of Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after acquiring an additional 4,927,848 shares during the period. Ieq Capital LLC grew its holdings in shares of Roblox by 6.3% during the 4th quarter. Ieq Capital LLC now owns 9,725,211 shares of the company’s stock worth $444,637,000 after acquiring an additional 573,463 shares during the period. Franklin Resources Inc. grew its holdings in shares of Roblox by 195.1% during the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after acquiring an additional 5,162,833 shares during the period. Finally, Norges Bank purchased a new position in shares of Roblox during the 4th quarter worth approximately $216,194,000. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling

In other news, insider Arvind Chakravarthy sold 13,970 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total value of $488,950.00. Following the completion of the sale, the insider now directly owns 308,996 shares of the company’s stock, valued at $10,814,860. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Arvind Chakravarthy sold 13,970 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $35.00, for a total value of $488,950.00. Following the completion of the transaction, the insider now owns 308,996 shares of the company’s stock, valued at $10,814,860. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $36.50, for a total value of $146,000.00. Following the completion of the transaction, the insider now directly owns 359,453 shares in the company, valued at $13,120,034.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,221 shares of company stock valued at $10,557,577. 22.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $56.00 target price (down previously from $57.00) on shares of Roblox in a report on Monday, May 13th. Roth Mkm reiterated a “neutral” rating and set a $35.00 target price (down previously from $55.00) on shares of Roblox in a report on Tuesday, May 14th. Barclays dropped their price target on Roblox from $46.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. BTIG Research dropped their price target on Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Needham & Company LLC dropped their price target on Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus price target of $41.76.

Check Out Our Latest Research Report on RBLX

Roblox Price Performance

NYSE RBLX opened at $34.99 on Tuesday. The business’s fifty day moving average price is $35.40 and its 200-day moving average price is $39.13. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of -18.81 and a beta of 1.58. The company has a debt-to-equity ratio of 16.04, a current ratio of 1.07 and a quick ratio of 1.07. Roblox Co. has a 1-year low of $24.88 and a 1-year high of $47.20.

Roblox (NYSE:RBLXGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The company had revenue of $923.76 million for the quarter, compared to analysts’ expectations of $918.85 million. During the same period last year, the firm earned ($0.44) EPS. Roblox’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities analysts predict that Roblox Co. will post -1.7 earnings per share for the current year.

About Roblox

(Free Report)

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.

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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