Eminence Capital LP Invests $50.65 Million in Roblox Co. (NYSE:RBLX)

Eminence Capital LP acquired a new position in shares of Roblox Co. (NYSE:RBLX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,361,237 shares of the company’s stock, valued at approximately $50,652,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. PARK CIRCLE Co acquired a new stake in shares of Roblox in the second quarter valued at approximately $30,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox in the first quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Roblox by 98.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after purchasing an additional 548 shares in the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of Roblox in the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $56.00 price target on shares of Roblox in a report on Tuesday, July 30th. Jefferies Financial Group initiated coverage on shares of Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Barclays lifted their target price on shares of Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Roth Mkm lifted their target price on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Wolfe Research initiated coverage on shares of Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Eight 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.81.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction on Friday, July 12th. The shares were sold at an average price of $40.21, for a total value of $6,701,720.28. Following the sale, the chief executive officer now directly owns 142,260 shares in the company, valued at approximately $5,720,274.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Roblox news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction on Friday, July 12th. The shares were sold at an average price of $40.21, for a total value of $6,701,720.28. Following the sale, the chief executive officer now directly owns 142,260 shares in the company, valued at approximately $5,720,274.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Friday, July 5th. The shares were sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares in the company, valued at $14,168,620.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 779,341 shares of company stock valued at $33,302,376. 22.15% of the stock is owned by corporate insiders.

Roblox Trading Up 1.1 %

RBLX opened at $47.63 on Thursday. The stock has a market capitalization of $28.50 billion, a P/E ratio of -25.60 and a beta of 1.60. Roblox Co. has a 12 month low of $25.98 and a 12 month high of $48.43. The firm’s fifty day simple moving average is $42.19 and its 200 day simple moving average is $38.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. The business had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. As a group, research analysts anticipate that Roblox Co. will post -1.59 EPS for the current fiscal year.

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.