Cathie Wood is Buying These 5 Stocks in September

In this article, we discuss 5 stocks that Cathie Wood is buying in September. If you want to see more stocks that Wood purchased this month, check out Cathie Wood is Buying These 10 Stocks in September.

5. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 38

Roblox Corporation (NYSE:RBLX) is headquartered in San Mateo, California, operating as a 3D online entertainment platform. Roblox Corporation (NYSE:RBLX) reported on September 15 that estimated bookings for August were between $233 million and $237 million, up 5% to 7% year-over-year, while estimated revenue was between $208 million and $211 million, up 22% to 24% year-over-year. Daily active users and hours engaged on the Roblox Corporation (NYSE:RBLX) platform also increased. However, estimated average bookings per daily active user, a core revenue metric, showed a 14% to 16% decrease year-over-year in August.

Cathie Wood’s ARK Investment Management on September 16 purchased 107,199 shares of Roblox Corporation (NYSE:RBLX). The stock has been part of the ARK portfolio since the first quarter of 2021. 

Among the hedge funds tracked by Insider Monkey, 38 funds were bullish on Roblox Corporation (NYSE:RBLX) at the end of June 2022, compared to 40 funds in the prior earlier quarter. Jim Simons’ Renaissance Technologies is the biggest position holder in the company, with 11.5 million shares worth $380.5 million. 

Tao Value, an investment management firm, discussed the performance of Roblox Corporation (NYSE:RBLX) in its Q4 2021 investor letter. Here’s what the fund said:

“Roblox (RBLX) got significant more attention from both institutional & retail investors after Facebook announced to rename itself as Meta Platforms. I believe the price appreciation is largely attributed to the increased attention. On the business side, Roblox rolled out a few successful music events and also partnered with Netflix on testing long-form media consumption in the virtual world. Apple in its iOS 14.5 rolled out an impactful change for the digital advertising landscape by requiring all apps to ask users to “opt in”.