1. Roblox Corporation (NYSE: RBLX)
Coleman’s Stake Value: $2,621,003,000
Percentage of Chase Coleman’s 13F Portfolio: 6.02%
Number of Hedge Fund Holders: 46
Roblox Corporation (NYSE: RBLX) develops and manages an online entertainment platform. The company was incorporated in 2004 and is ranked first on the list of Tiger Global’s top 10 stocks picks. Roblox shares have offered investors returns of 16.37% in the past 3 months. The stock is up 25.94% since March 31.
On July 13, Benchmark analyst Mike Hickey initiated a coverage on Roblox Corporation (NYSE: RBLX), rating the stock as “Sell,” with a price target of $75. On May 10, Roblox posted earnings results for the first three months of 2021. The earnings per share was -$0.46, missing market predictions by $0.24. The bookings over the period were $652.3 million, up 161% YoY, beating the estimates by $572.3 million.
The stock is a new arrival on Chase Coleman’s portfolio, as his hedge fund bought more than 40 million shares in Roblox Corporation (NYSE: RBLX) worth over $2.62 billion. This represents 6.02% of their portfolio. The company is also getting the attention of the smart money, as 46 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the first quarter of 2021.
Guardian Fund, in its second quarter 2021 investor letter, mentioned Roblox Corporation (NYSE: RBLX). Here is what Guardian Fund has to say about Roblox Corporation in its letter:
“The wonder-tale stories of children’s books show us that there are infinite possibilities of stories and worlds. The metaverse, the idea that describes the shared 3D spaces in a virtual universe, is enabling people to create fiction. Over the past six months, we initiated a new investment in Roblox. The firm was founded in 1989 by David Baszucki and Erik Kassel when they programmed a physics lab where students could study how cars would crash.
Today, Roblox has become a leading platform with a mission to build a human co-experience that enables billions of users to play, learn, and build friendships in the metaverse. Recent advances in cloud computing, computing devices, and machine learning, enable the materialization of the metaverse. Take what we have in virtual reality today and fast-forward a few decades. Humans will be able to experience unimaginable things and in a couple of millennia virtual economies are likely to become bigger than the physical trade on planet Earth.
Over the first quarter of 2021, Roblox reported 140% revenue growth, 42.1 million daily active users, and 9.7 billion engaged hours. The opportunity for this platform is massive.”
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