Gavilan Investment Partners LLC purchased a new position in shares of Roblox Corporation (NYSE:RBLX – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 310,000 shares of the company’s stock, valued at approximately $17,534,000. Roblox accounts for about 4.7% of Gavilan Investment Partners LLC’s portfolio, making the stock its 13th biggest holding.
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Several other large investors have also added to or reduced their stakes in RBLX. Sunbelt Securities Inc. raised its stake in shares of Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after purchasing an additional 105 shares during the last quarter. Horizon Investments LLC boosted its position in Roblox by 2,636.4% in the third quarter. Horizon Investments LLC now owns 301 shares of the company’s stock valued at $42,000 after buying an additional 290 shares during the last quarter. Reyes Financial Architecture Inc. boosted its position in Roblox by 164.4% in the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 194 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in Roblox in the fourth quarter valued at approximately $27,000. Finally, GW&K Investment Management LLC increased its holdings in Roblox by 76.3% in the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.
Insiders Place Their Bets
In other news, CFO Naveen K. Chopra sold 16,863 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total transaction of $763,556.64. Following the sale, the chief financial officer directly owned 380,758 shares of the company’s stock, valued at $17,240,722.24. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,356 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total value of $649,896.12. Following the sale, the insider owned 349,964 shares in the company, valued at $15,842,870.28. This trade represents a 3.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 161,983 shares of company stock valued at $7,580,990. Insiders own 10.05% of the company’s stock.
Analyst Ratings Changes
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Several brokerages have commented on RBLX. Raymond James Financial began coverage on shares of Roblox in a research note on Monday, June 29th. They set a “market perform” rating for the company. TD Cowen raised shares of Roblox from a “sell” rating to a “hold” rating and reduced their target price for the stock from $54.00 to $49.00 in a report on Friday, May 1st. Citigroup restated a “buy” rating on shares of Roblox in a research report on Wednesday, July 15th. Wall Street Zen raised shares of Roblox from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Wedbush downgraded Roblox from a “hold” rating to a “neutral” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.85.
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