AXQ Capital LP Makes New Investment in Roblox Co. (NYSE:RBLX)

AXQ Capital LP purchased a new position in Roblox Co. (NYSE:RBLX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,894 shares of the company’s stock, valued at approximately $1,672,000. Roblox comprises about 0.8% of AXQ Capital LP’s investment portfolio, making the stock its 8th largest position.

Several other hedge funds have also added to or reduced their stakes in the business. Wealthfront Advisers LLC raised its stake in shares of Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after acquiring an additional 17,312,325 shares during the last quarter. ValueAct Holdings L.P. raised its stake in shares of Roblox by 340.7% during the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after acquiring an additional 7,835,921 shares during the last quarter. FMR LLC raised its stake in shares of Roblox by 24.5% during the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after acquiring an additional 4,115,286 shares during the last quarter. Ieq Capital LLC raised its stake in shares of Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after acquiring an additional 3,507,901 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new position in shares of Roblox during the third quarter valued at about $107,491,000. 94.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RBLX shares. Citigroup boosted their price target on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group boosted their price target on shares of Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Wedbush reiterated an “outperform” rating and set a $83.00 price target on shares of Roblox in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Finally, Piper Sandler reiterated an “overweight” rating and set a $72.00 price target (up previously from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $64.19.

Insider Buying and Selling

In other news, CAO Amy Marie Rawlings sold 5,879 shares of Roblox stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the transaction, the chief accounting officer now owns 75,528 shares in the company, valued at $4,909,320. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the transaction, the insider now owns 278,161 shares in the company, valued at $16,620,119.75. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 950,466 shares of company stock worth $61,646,297. 22.15% of the stock is owned by insiders.

Roblox Price Performance

Shares of RBLX opened at $61.21 on Friday. The company has a market capitalization of $37.89 billion, a P/E ratio of -42.21 and a beta of 1.49. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The firm has a 50 day moving average of $63.54 and a 200 day moving average of $54.82. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $75.74.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, equities research analysts anticipate that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

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.