Connor Clark & Lunn Investment Management Ltd. Decreases Position in Roblox Corporation $RBLX

Connor Clark & Lunn Investment Management Ltd. lowered its position in Roblox Corporation (NYSE:RBLX) by 56.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,334 shares of the company’s stock after selling 517,744 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Roblox worth $55,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Roblox during the second quarter worth about $350,720,000. Vanguard Group Inc. increased its stake in shares of Roblox by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after purchasing an additional 3,284,073 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Roblox by 103.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock worth $341,410,000 after purchasing an additional 1,646,871 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Roblox by 47.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock valued at $503,718,000 after buying an additional 1,531,380 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Roblox by 359.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock valued at $191,295,000 after buying an additional 1,422,894 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Performance

NYSE RBLX opened at $60.42 on Thursday. The business’s 50-day moving average price is $70.84 and its 200 day moving average price is $98.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. Roblox Corporation has a twelve month low of $50.10 and a twelve month high of $150.59. The company has a market capitalization of $39.98 billion, a PE ratio of -38.98 and a beta of 1.62.

Roblox (NYSE:RBLX) last posted its quarterly 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 return on equity of 304.42% and a negative net margin of 21.78%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the business earned ($0.33) EPS. The firm’s revenue was up 122.6% on a year-over-year basis. On average, research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent research reports. Freedom Capital raised Roblox from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Wolfe Research set a $100.00 price objective on Roblox in a research report on Monday, January 5th. Canaccord Genuity Group cut their target price on shares of Roblox from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. B. Riley Financial assumed coverage on shares of Roblox in a report on Tuesday, December 9th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, Oppenheimer lowered their price target on shares of Roblox from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.35.

Insider Transactions at Roblox

In other Roblox news, insider Arvind Chakravarthy sold 40,646 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total transaction of $2,732,630.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 10,834 shares of Roblox stock in a transaction on Friday, February 20th. The shares were sold at an average price of $61.63, for a total transaction of $667,699.42. Following the completion of the transaction, the chief executive officer owned 800,539 shares in the company, valued at approximately $49,337,218.57. This trade represents a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 703,144 shares of company stock valued at $51,681,640 in the last quarter. Insiders own 12.92% of the company’s stock.

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.