Tabor Asset Management LP Takes Position in Roblox Corporation $RBLX

Tabor Asset Management LP acquired a new position in shares of Roblox Corporation (NYSE:RBLX) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,671 shares of the company’s stock, valued at approximately $1,755,000. Roblox makes up 1.1% of Tabor Asset Management LP’s investment portfolio, making the stock its 29th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd purchased a new position in Roblox in the third quarter valued at approximately $26,000. Total Investment Management Inc. purchased a new stake in Roblox during the second quarter worth approximately $29,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Roblox in the third quarter worth $37,000. Root Financial Partners LLC acquired a new stake in shares of Roblox in the third quarter worth $38,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Roblox in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

Shares of NYSE RBLX opened at $62.52 on Tuesday. The business has a 50 day moving average price of $71.71 and a two-hundred day moving average price of $99.08. Roblox Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59. The firm has a market cap of $41.37 billion, a PE ratio of -40.34 and a beta of 1.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65.

Roblox (NYSE:RBLX) last released its 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 period in the prior year, the business posted ($0.33) EPS. The business’s revenue was up 122.6% on a year-over-year basis. Sell-side analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Activity

In other Roblox news, CEO David Baszucki sold 272,269 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the transaction, the chief executive officer directly owned 811,373 shares in the company, valued at $58,954,362.18. This represents a 25.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Arvind Chakravarthy sold 40,646 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total transaction of $2,732,630.58. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 703,144 shares of company stock worth $51,681,640 over the last ninety days. Insiders own 12.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RBLX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a report on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 target price (down from $125.00) on shares of Roblox in a research report on Friday, February 6th. Needham & Company LLC lowered their target price on Roblox from $159.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, February 6th. BMO Capital Markets reissued an “outperform” rating on shares of Roblox in a research report on Friday, February 6th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $141.00 price objective on shares of Roblox in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.35.

Roblox 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.