Roblox (RBLX)
Market Price (9/2/2026): $40.53 | Market Cap: $29.1 BilSector: Communication Services | Industry: Interactive Home Entertainment
Roblox (RBLX)
Market Price (9/2/2026): $40.53Market Cap: $29.1 BilSector: Communication ServicesIndustry: Interactive Home Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%, CFO LTM is 2.1 Bil Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% Attractive yieldFCF Yield is 5.5% Megatrend and thematic driversMegatrends include Digital Content & Streaming, Social Media & Creator Economy, Digital & Alternative Assets, Experience Economy & Premiumization, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.2 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.8% Short seller reportHindenburg Research report on 10/8/2024. Key risksRBLX key risks include [1] heightened regulatory and reputational scrutiny over child safety due to its predominantly young user base and [2] an uncertain path to profitability needed to justify its premium valuation. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%, CFO LTM is 2.1 Bil |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% |
| Attractive yieldFCF Yield is 5.5% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Social Media & Creator Economy, Digital & Alternative Assets, Experience Economy & Premiumization, Show more. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -1.2 Bil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.8% |
| Short seller reportHindenburg Research report on 10/8/2024. |
| Key risksRBLX key risks include [1] heightened regulatory and reputational scrutiny over child safety due to its predominantly young user base and [2] an uncertain path to profitability needed to justify its premium valuation. |
Qualitative Assessment
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Roblox (RBLX) stock has lost about 10% since 5/31/2026 because of the following key factors:
1. Weaker-than-expected fiscal Q2 2026 bookings and disappointing fiscal Q3 2026 guidance.
Roblox reported its fiscal Q2 2026 results on July 30, 2026, revealing that while revenue grew 36% year-over-year to $1.47 billion, bookings (representing user spending) increased by only 8% to $1.557 billion, landing at the low end of the company's guidance range. More significantly, management guided for fiscal Q3 2026 bookings to decline 14% to 18% year-over-year, marking the first time the company has ever projected a bookings decline, which was substantially below the consensus estimate of approximately $1.87 billion. This cautious outlook signaled a slowdown in growth.
2. Softer monetization trends impacted user value.
In fiscal Q2 2026, Roblox experienced a mix-shift towards lower monetizing content due to changes in its discovery algorithm, leading to bookings per hour falling below expectations, particularly among users under 13. Despite a 15% year-over-year increase in average monthly unique payers to 27 million, the decreased monetization per user contributed to concerns about the platform's ability to convert engagement into revenue effectively.
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Roblox (RBLX) stock has lost about 10% since 5/31/2026 because of the following key factors:
1. Weaker-than-expected fiscal Q2 2026 bookings and disappointing fiscal Q3 2026 guidance.
Roblox reported its fiscal Q2 2026 results on July 30, 2026, revealing that while revenue grew 36% year-over-year to $1.47 billion, bookings (representing user spending) increased by only 8% to $1.557 billion, landing at the low end of the company's guidance range. More significantly, management guided for fiscal Q3 2026 bookings to decline 14% to 18% year-over-year, marking the first time the company has ever projected a bookings decline, which was substantially below the consensus estimate of approximately $1.87 billion. This cautious outlook signaled a slowdown in growth.
2. Softer monetization trends impacted user value.
In fiscal Q2 2026, Roblox experienced a mix-shift towards lower monetizing content due to changes in its discovery algorithm, leading to bookings per hour falling below expectations, particularly among users under 13. Despite a 15% year-over-year increase in average monthly unique payers to 27 million, the decreased monetization per user contributed to concerns about the platform's ability to convert engagement into revenue effectively.
3. Widespread analyst downgrades and price target reductions.
Following the fiscal Q2 2026 earnings report and the subdued guidance, several Wall Street analysts significantly lowered their ratings and price targets for Roblox. Oppenheimer, for instance, cut its price target from $82 to $50, while B. Riley reduced its target from $80 to $45. Citi lowered its target from $70 to $60, and Macquarie downgraded Roblox to Neutral with a $37 target, reflecting a broad re-evaluation of the company's growth trajectory and valuation.
4. Significant insider selling activity.
During the 90 days leading up to August 31, 2026, Roblox experienced substantial insider selling, with directors and officers collectively selling approximately $6.8 million worth of shares. While some individual transactions were below the $5 million threshold, the aggregate selling activity by insiders during this period contributed to negative market sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -12.4% change in RBLX stock from 5/31/2026 to 8/31/2026 was primarily driven by a -17.8% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 47.15 | 41.29 | -12.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,298 | 5,686 | 7.3% |
| P/S Multiple | 6.3 | 5.2 | -17.8% |
| Shares Outstanding (Mil) | 712 | 717 | -0.7% |
| Cumulative Contribution | -12.4% |
Market Drivers
5/31/2026 to 8/31/2026| Return | Correlation | |
|---|---|---|
| RBLX | -12.4% | |
| Market (SPY) | 1.4% | 24.7% |
| Sector (XLC) | -3.7% | 33.8% |
Fundamental Drivers
The -39.9% change in RBLX stock from 2/28/2026 to 8/31/2026 was primarily driven by a -47.4% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 68.66 | 41.29 | -39.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,891 | 5,686 | 16.3% |
| P/S Multiple | 9.9 | 5.2 | -47.4% |
| Shares Outstanding (Mil) | 704 | 717 | -1.7% |
| Cumulative Contribution | -39.9% |
Market Drivers
2/28/2026 to 8/31/2026| Return | Correlation | |
|---|---|---|
| RBLX | -39.9% | |
| Market (SPY) | 12.1% | 24.3% |
| Sector (XLC) | -5.3% | 33.5% |
Fundamental Drivers
The -66.9% change in RBLX stock from 8/31/2025 to 8/31/2026 was primarily driven by a -75.5% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 124.59 | 41.29 | -66.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,023 | 5,686 | 41.3% |
| P/S Multiple | 21.2 | 5.2 | -75.5% |
| Shares Outstanding (Mil) | 685 | 717 | -4.5% |
| Cumulative Contribution | -66.9% |
Market Drivers
8/31/2025 to 8/31/2026| Return | Correlation | |
|---|---|---|
| RBLX | -66.9% | |
| Market (SPY) | 19.9% | 28.8% |
| Sector (XLC) | 1.1% | 31.5% |
Fundamental Drivers
The 46.0% change in RBLX stock from 8/31/2023 to 8/31/2026 was primarily driven by a 133.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.29 | 41.29 | 46.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,433 | 5,686 | 133.7% |
| P/S Multiple | 7.1 | 5.2 | -26.9% |
| Shares Outstanding (Mil) | 613 | 717 | -14.5% |
| Cumulative Contribution | 46.0% |
Market Drivers
8/31/2023 to 8/31/2026| Return | Correlation | |
|---|---|---|
| RBLX | 46.0% | |
| Market (SPY) | 76.3% | 34.4% |
| Sector (XLC) | 69.8% | 35.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RBLX Return | 48% | -72% | 61% | 27% | 40% | -52% | -45% |
| Peers Return | 10% | -59% | 88% | 2% | 28% | -10% | 0% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| RBLX Win Rate | 50% | 25% | 58% | 58% | 50% | 38% | |
| Peers Win Rate | 53% | 30% | 68% | 50% | 53% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| RBLX Max Drawdown | - | -78% | -45% | -33% | -43% | -59% | |
| Peers Max Drawdown | -31% | -65% | -25% | -34% | -30% | -40% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSFT, TTWO, U, META, SNAP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/31/2026 (YTD)
How Low Can It Go
| Event | RBLX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -19.5% | -18.8% |
| % Gain to Breakeven | 24.2% | 23.1% |
| Time to Breakeven | 16 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.2% | -9.5% |
| % Gain to Breakeven | 56.7% | 10.5% |
| Time to Breakeven | 55 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -76.5% | -24.5% |
| % Gain to Breakeven | 326.1% | 32.4% |
| Time to Breakeven | 1133 days | 427 days |
In The Past
Roblox's stock fell -19.5% during the 2025 US Tariff Shock. Such a loss loss requires a 24.2% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | RBLX | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.2% | -9.5% |
| % Gain to Breakeven | 56.7% | 10.5% |
| Time to Breakeven | 55 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -76.5% | -24.5% |
| % Gain to Breakeven | 326.1% | 32.4% |
| Time to Breakeven | 1133 days | 427 days |
In The Past
Roblox's stock fell -19.5% during the 2025 US Tariff Shock. Such a loss loss requires a 24.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Roblox (RBLX)
Roblox Corporation operates a leading online entertainment platform that enables users worldwide to explore and interact within immersive 3D digital worlds. The company's core mission revolves around fostering "human co-experience," providing a vast ecosystem where millions can connect, play, and socialize in dynamic, user-generated environments.
The platform is built on several key products and services. Roblox Studio is a free toolset that empowers developers and creators to design, build, publish, and operate their own 3D experiences and content. For end-users, the Roblox Client is the application through which they access and navigate these diverse digital worlds. Additionally, Roblox Cloud provides the essential services and infrastructure underpinning the entire platform, while Roblox Education facilitates learning experiences.
Roblox serves a broad international customer base, encompassing both the general users exploring its digital worlds and the global community of developers and creators who populate the platform with new content. Its market reach extends across significant regions, including the United States, United Kingdom, Canada, various parts of Europe, China, and the broader Asia-Pacific region, establishing a truly global presence.
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Here are 1-3 brief analogies for Roblox (RBLX):
- YouTube for 3D games.
- An App Store for user-created virtual worlds.
- Lego meets the App Store for digital worlds.
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- Roblox Studio: A free toolset enabling developers and creators to build, publish, and operate 3D experiences and other content.
- Roblox Client: An application that allows users to explore the 3D digital world created on the platform.
- Roblox Education: Provides learning experiences through its platform.
- Roblox Cloud: Offers services and infrastructure that power the human co-experience platform.
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- Players/Users (Consumers of Experiences): These are individuals across various age groups who engage with the Roblox platform to explore 3D digital worlds, play games, and socialize. They are the primary source of revenue by purchasing Robux, the in-platform currency, which is then used to buy virtual items, avatar customizations, and access to premium experiences created by developers.
- Parents/Guardians: Often, parents or guardians make the direct financial transactions for Robux purchases, gift cards, or subscriptions (e.g., Roblox Premium) on behalf of younger players. While the end-user is the player, the paying customer in many instances is the parent or guardian managing these purchases.
- Roblox Premium Subscribers: A dedicated segment of players who subscribe to a recurring monthly service. These individuals pay a subscription fee to receive a monthly Robux stipend, exclusive virtual items, and other benefits, representing a consistent revenue stream from committed users.
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- Amazon (AMZN)
- Alphabet (GOOGL)
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David Baszucki, Founder & CEO
David Baszucki is the co-founder and CEO of Roblox Corporation. Before Roblox, he co-founded Knowledge Revolution in 1989, an educational software company that developed "Interactive Physics" and "Working Model" software, which was later acquired by MSC Software in December 1998. He then served as Vice President and General Manager of MSC Software from 2000 to 2002. From 2003 to 2004, Baszucki founded Baszucki & Associates, an angel investment firm, providing seed funding to companies like Friendster.
Naveen Chopra, Chief Financial Officer
Naveen Chopra was appointed as Roblox's Chief Financial Officer, effective June 30, 2025. He brings over 25 years of extensive financial and strategic leadership experience from various technology and media companies, including Paramount, Amazon, Pandora, and TiVo. He also serves on the board of directors at Macy's Inc.
Manuel Bronstein, Chief Product Officer
Manuel Bronstein serves as the Chief Product Officer at Roblox, leading the Product, Design, and Data Science organizations. With over 20 years of experience as a product leader in consumer and entertainment industries, he previously held roles as Vice President of Product at Google, where he led the Google Assistant, and Vice President of Product at YouTube, overseeing mobile, desktop, and living room applications, as well as live streaming, growth, and community. He also served as VP of Product and General Manager at Zynga and held product, strategy, and planning roles at Xbox.
Craig Donato, Chief Business Officer
Craig Donato is the Chief Business Officer at Roblox, overseeing Business Development and Developer Relations. He founded Oodle Holdings LLC in 2004, serving as its CEO from 2005 to 2013, before it was acquired by QVC in 2012. Prior to joining Roblox in 2016, he was the Vice President of Business Development at Nextdoor and Vice President-Social at QVC, Inc.
Arvind KC, Chief People & Systems Officer
Arvind KC serves as the Chief People and Systems Officer at Roblox. His background includes significant roles at major technology companies, such as Vice President of Engineering at Google and CIO at Palantir Technologies.
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The key risks to Roblox Corporation (RBLX) primarily revolve around its unique platform model, which heavily relies on user-generated content and a significant youth demographic.
- Child Safety, Content Moderation, and Regulatory Scrutiny: A paramount risk stems from the challenges of ensuring child safety and effectively moderating user-generated content and interactions on a platform with millions of young users. Despite efforts, Roblox faces ongoing criticism for instances of inappropriate content, cyberbullying, and predatory behavior slipping through its moderation systems. This has led to formal regulatory investigations in various jurisdictions, such as the Netherlands Authority for Consumers and Markets, and multiple lawsuits alleging failures in developing adequate safety protocols. The potential for negative media coverage, legal liabilities, and regulatory fines poses a significant threat to the company's reputation, user trust, and financial performance.
- Financial Performance and Path to Profitability: Roblox has a documented history of net losses and anticipates continued losses as it makes substantial investments in business growth, including significant capital expenditures for proprietary AI infrastructure and data centers. While the company generates strong cash flow, its consistent GAAP unprofitability raises concerns among investors, as it indicates that, when all long-term costs and equity compensation are factored in, the core business may be operating at a loss. Maintaining investor confidence and balancing aggressive growth strategies with a clear path to sustained profitability remains a critical financial risk.
- Competition and Developer Ecosystem Management: Roblox operates in a highly competitive digital entertainment market, vying for users and creators against well-resourced rivals such as Epic Games (Fortnite) and Meta Platforms (Horizon Worlds). There is an ongoing "war for talent" among developers, and Roblox's business model is heavily reliant on its community of creators to produce engaging experiences. Concerns exist regarding the revenue share developers receive and the opaque conversion rates when cashing out Robux (the platform's virtual currency) into real money, which has drawn criticism for potentially exploiting young developers. If top developers migrate to competing platforms or the company fails to maintain a vibrant and incentivized creator community, it could significantly impact user engagement and revenue.
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The clear emerging threat to Roblox is the potential for major technology companies to launch highly integrated and compelling platforms for user-generated 3D interactive experiences, leveraging advanced spatial computing hardware and sophisticated AI-driven content creation tools. Such platforms could offer a more intuitive, immersive, or accessible environment for developers and users, potentially establishing new industry standards and drawing significant portions of Roblox’s developer base and user audience to alternative ecosystems.
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Roblox (RBLX) operates within several substantial addressable markets related to its online entertainment platform, 3D experiences, and content creation tools.
The global online entertainment market, which encompasses digital platforms and services delivering multimedia content like video, music, and gaming, was valued at USD 474.78 billion in 2024 and is projected to reach USD 2639.74 billion by 2033, growing at a CAGR of 21% from 2025 to 2033. North America is a dominant region in this market.
For the broader metaverse market, which includes Roblox's 3D digital worlds, the global market size was valued at USD 1,273.58 billion in 2025 and is projected to grow to USD 10,808.57 billion by 2034, exhibiting a CAGR of 22.60% from 2026–2034. North America held a significant share of this market, at 70.70% in 2025.
More specifically, the metaverse in gaming market, directly relevant to Roblox's immersive 3D experiences, was valued at $23.9 billion globally in 2024 and is forecast to grow at a 27.7% CAGR to $216.1 billion by 2033. In 2025, North America accounted for 38.27% of the revenue in the metaverse in gaming market.
The user-generated content (UGC) platform market, vital for Roblox Studio's function in enabling creators to build content, was valued at USD 7.1 billion globally in 2025 and is projected to reach USD 64.31 billion by 2034, with a CAGR of 28.8%. North America led this market with a 33.3% share in 2025.
Furthermore, as 3D content creation becomes more sophisticated, the AI-generated 3D asset market, which aids in developing content, was valued at USD 1.63 billion globally in 2024 and is expected to reach USD 9.24 billion by 2032, growing at a CAGR of 24.29% from 2025 to 2032. The U.S. portion of this market was valued at USD 0.46 billion in 2024 and is expected to reach USD 2.56 billion by 2032.
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Expected Drivers of Future Revenue Growth for Roblox (RBLX)
Over the next 2-3 years, Roblox Corporation (RBLX) is expected to drive future revenue growth through several key initiatives and market trends:
- Expansion into the 18+ User Demographic and Targeted Content: Roblox is actively growing its user base among individuals aged 18 and older, a cohort that demonstrates significantly higher monetization compared to younger users. The company has observed the 18+ demographic growing over 50% year-over-year and monetizing approximately 40% higher. To cater to this audience, Roblox is launching programs like "Incubator" and "Jumpstart" to foster the creation of more mature game genres such as RPGs, strategy games, and shooters. This strategic shift aims to capture a more lucrative segment of the gaming market.
- Continued International Growth, particularly in the Asia-Pacific Region: International markets represent a substantial growth opportunity for Roblox. The Asia-Pacific (APAC) region, in particular, has shown robust performance, with bookings growing 96% year-over-year. Key countries like Japan (160% growth), India (110% growth), and Indonesia (exceeding 700% growth) are leading this expansion. Deepening engagement and monetization in these high-growth regions will be a significant revenue driver.
- Growth of the Advertising Business: Roblox is developing advertising as a new and growing revenue stream. Management anticipates "pretty healthy growth" from its advertising business in 2026. Initiatives like "Rewarded Video" and "Sponsored Tiles" are showing strong early growth, indicating the potential for immersive advertising to contribute significantly to future revenue diversification.
- Enhancements to the Creator Ecosystem and Monetization Tools: Roblox continues to invest heavily in its creator community to foster a richer content library and boost in-game purchases. This includes increasing DevEx (Developer Exchange) rates, introducing AI-assisted creation tools, and implementing improved monetization options such as differential and regional pricing. Innovations like "Amaze Digital Fits" are also projected to enhance avatar customization engagement and contribute to revenue growth.
- AI-driven Improvements in Content Discovery and Personalization: Advances in search, discovery, and recommendation algorithms are driving a double-digit increase in the unique experiences surfaced for users. By improving how users find and engage with content, Roblox aims to diversify engagement beyond the top experiences, leading to higher overall user engagement and increased monetization opportunities across the platform.
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Share Repurchases
Roblox has not engaged in significant share repurchase programs over the last 3-5 years, with its buyback yield reported as -0.22% as of March 14, 2026, indicating net share issuance rather than repurchases.
Share Issuance
- Roblox's shares outstanding increased by 3.51% in 2023 to 0.616 billion from 2022.
- Shares outstanding grew by 5.03% in 2024 to 0.647 billion from 2023.
- In 2025, shares outstanding further increased by 6.51% to 0.69 billion from 2024.
Inbound Investments
- In January 2021, prior to its direct listing, Roblox completed a "series H" funding round led by Altimeter Capital and Dragoneer Investment Group, which valued the company at $29.5 billion.
Outbound Investments
- In August 2021, Roblox acquired Guilded, Inc., a company focused on connecting gaming communities, for $90 million in cash and stock.
- Roblox also acquired the online communication platform Bash Video in August 2021.
- The company is actively investing in existing and developing games on its platform.
Capital Expenditures
- Capital expenditures were reported as $93.273 million in fiscal year 2021, and then increased to $426.2 million in 2022.
- For fiscal year 2025, Roblox's reported capital expenditures were $310 million. The company had also raised its full-year 2025 CapEx guidance to $468 million, primarily for investments in proprietary AI infrastructure (including high-end GPUs) and data centers to manage demand and develop future technology.
- Expected capital expenditures for Q1 2026 are projected to be $85 million.
Peer Outperformance in Interactive Home Entertainment
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -5.7% | 38.2% | 37.8% | ECHO 221% · TMUS 38% · SHEN -57% |
| Publishing | 5 | 16.4% | -2.8% | 29.2% | NWSA 41% · NYT 38% · SCHL 29% |
| Integrated Telecommunication Services | 21 | -8.4% | 13.9% | -13.0% | IQST 1469% · GSAT 188% · AD 149% |
| Movies & Entertainment | 23 | 6.6% | 79.6% | -17.5% | IMAX 230% · MSGS 121% · CNK 114% |
| Alternative Carriers | 4 | 41.6% | 11.3% | -41.1% | IRDM 9% · UNIT -38% · LUMN -44% |
| Advertising | 18 | -9.5% | -14.4% | -58.9% | APP 320% · OMC 43% · EVC 37% |
| Broadcasting | 15 | -7.6% | -18.8% | -67.5% | FOXA 93% · NXST 44% · WBD 0% |
| Interactive Media & Services | 30 | -26.5% | -35.5% | -71.0% | GOOGL 136% · META 51% · EVER 30% |
| Interactive Home Entertainment ← | 8 | -40.7% | -45.2% | -89.3% | TTWO 36% · RBLX -51% · PINS -62% |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | - |
| Mkt Cap | 35.3 |
| Rev LTM | 6,519 |
| Op Inc LTM | -243 |
| FCF LTM | 1,173 |
| FCF 3Y Avg | 689 |
| CFO LTM | 1,510 |
| CFO 3Y Avg | 929 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.5% |
| Rev Chg 3Y Avg | 14.2% |
| Rev Chg Q | 21.4% |
| QoQ Delta Rev Chg LTM | 4.9% |
| Op Inc Chg LTM | 15.6% |
| Op Inc Chg 3Y Avg | 29.5% |
| Op Mgn LTM | -3.8% |
| Op Mgn 3Y Avg | -12.3% |
| QoQ Delta Op Mgn LTM | 0.8% |
| CFO/Rev LTM | 32.1% |
| CFO/Rev 3Y Avg | 24.3% |
| FCF/Rev LTM | 19.1% |
| FCF/Rev 3Y Avg | 20.5% |
Price Behavior
| Market Price | $41.29 | |
| Market Cap ($ Bil) | 29.6 | |
| First Trading Date | 03/10/2021 | |
| Distance from 52W High | -70.8% | |
| 50 Days | 200 Days | |
| DMA Price | $47.27 | $61.31 |
| DMA Trend | down | down |
| Distance from DMA | -12.7% | -32.7% |
| 3M | 1YR | |
| Volatility | 82.2% | 67.3% |
| Downside Capture | 124.87 | 208.90 |
| Upside Capture | 56.16 | 36.56 |
| Correlation (SPY) | 25.9% | 28.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.43 | 0.44 | 1.48 | 1.30 | 1.49 | 1.25 |
| Up Beta | 1.96 | -0.27 | 3.04 | 2.06 | 1.42 | 1.26 |
| Down Beta | -0.12 | 0.55 | 1.30 | 1.96 | 2.24 | 1.28 |
| Up Capture | 223% | -76% | 51% | 4% | 27% | 154% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 18 | 29 | 59 | 119 | 399 |
| Down Capture | -32% | 215% | 122% | 135% | 154% | 106% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 23 | 34 | 67 | 131 | 347 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RBLX | |
|---|---|---|---|---|
| RBLX | -67.6% | 67.1% | -1.38 | - |
| Sector ETF (XLC) | 0.9% | 15.2% | -0.15 | 31.4% |
| Equity (SPY) | 19.3% | 12.8% | 1.11 | 28.4% |
| Gold (GLD) | 29.8% | 29.0% | 0.89 | 15.8% |
| Commodities (DBC) | 41.3% | 20.4% | 1.58 | -2.4% |
| Real Estate (VNQ) | 9.2% | 13.7% | 0.40 | 7.3% |
| Bitcoin (BTCUSD) | -30.9% | 43.7% | -0.72 | 23.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RBLX | |
|---|---|---|---|---|
| RBLX | -14.3% | 70.6% | 0.08 | - |
| Sector ETF (XLC) | 6.9% | 20.9% | 0.25 | 45.9% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 41.9% |
| Gold (GLD) | 19.4% | 18.7% | 0.84 | 6.3% |
| Commodities (DBC) | 11.0% | 19.5% | 0.44 | 5.3% |
| Real Estate (VNQ) | 1.9% | 18.9% | -0.00 | 26.9% |
| Bitcoin (BTCUSD) | 9.5% | 52.7% | 0.36 | 26.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RBLX | |
|---|---|---|---|---|
| RBLX | -5.6% | 70.7% | 0.16 | - |
| Sector ETF (XLC) | 9.2% | 22.1% | 0.46 | 44.7% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 40.4% |
| Gold (GLD) | 12.3% | 16.3% | 0.62 | 6.7% |
| Commodities (DBC) | 7.6% | 18.1% | 0.34 | 6.7% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 25.6% |
| Bitcoin (BTCUSD) | 63.4% | 66.2% | 1.03 | 24.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -26.9% | -26.0% | -20.8% |
| 4/30/2026 | -18.3% | -19.0% | -14.9% |
| 2/5/2026 | 9.7% | 4.3% | 3.4% |
| 10/30/2025 | -15.5% | -23.6% | -29.9% |
| 7/31/2025 | 10.3% | 7.4% | 1.6% |
| 5/1/2025 | 2.9% | 5.1% | 29.7% |
| 2/6/2025 | -11.1% | -14.9% | -24.2% |
| 10/31/2024 | 19.9% | 22.6% | 16.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 12 |
| # Negative | 10 | 9 | 10 |
| Median Positive | 10.2% | 7.4% | 14.9% |
| Median Negative | -19.7% | -19.0% | -19.6% |
| Max Positive | 42.2% | 40.3% | 62.1% |
| Max Negative | -26.9% | -37.7% | -36.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -26.9% | -26.0% | -20.8% |
| 4/30/2026 | -18.3% | -19.0% | -14.9% |
| 2/5/2026 | 9.7% | 4.3% | 3.4% |
| 10/30/2025 | -15.5% | -23.6% | -29.9% |
| 7/31/2025 | 10.3% | 7.4% | 1.6% |
| 5/1/2025 | 2.9% | 5.1% | 29.7% |
| 2/6/2025 | -11.1% | -14.9% | -24.2% |
| 10/31/2024 | 19.9% | 22.6% | 16.2% |
| 8/1/2024 | -6.4% | -12.9% | 4.9% |
| 5/9/2024 | -22.1% | -15.4% | -8.7% |
| 2/7/2024 | 10.2% | 4.2% | -1.2% |
| 11/8/2023 | 11.8% | 11.9% | 13.7% |
| 8/9/2023 | -21.9% | -21.1% | -23.7% |
| 5/10/2023 | 7.4% | 8.5% | 7.4% |
| 2/15/2023 | 26.4% | 5.3% | 27.1% |
| 11/9/2022 | -21.0% | -6.2% | -18.4% |
| 8/9/2022 | 1.4% | 0.9% | -11.6% |
| 5/10/2022 | 3.4% | 37.7% | 31.5% |
| 2/15/2022 | -26.5% | -37.7% | -36.8% |
| 11/8/2021 | 42.2% | 40.3% | 62.1% |
| 8/16/2021 | -1.1% | 6.9% | 3.2% |
| 5/10/2021 | 21.3% | 20.2% | 42.3% |
| SUMMARY STATS | |||
| # Positive | 12 | 13 | 12 |
| # Negative | 10 | 9 | 10 |
| Median Positive | 10.2% | 7.4% | 14.9% |
| Median Negative | -19.7% | -19.0% | -19.6% |
| Max Positive | 42.2% | 40.3% | 62.1% |
| Max Negative | -26.9% | -37.7% | -36.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/30/2026 | 10-Q |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/18/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/13/2021 | 10-Q |
| 12/31/2020 | 03/10/2021 | 424B4 |
| 09/30/2020 | 02/11/2021 | S-1/A |
Recent Forward Guidance
Updated 7/31/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Bookings | Reported | 1.58 Bil | 1.61 Bil | 1.65 Bil | 2.2% | Higher New | Guidance: 1.58 Bil for Q2 2026 | |
| Q3 2026 Consolidated net loss | Reported | -348.00 Mil | -327.50 Mil | -307.00 Mil | ||||
| Q3 2026 Operating cash flow | Reported | 110.00 Mil | 142.50 Mil | 175.00 Mil | ||||
| Q3 2026 Revenue | Reported | 1.41 Bil | 1.45 Bil | 1.49 Bil | 2.2% | Higher New | Guidance: 1.42 Bil for Q2 2026 | |
| Q3 2026 Adjusted EBITDA | Reported | 0 | 20.50 Mil | 41.00 Mil | ||||
| Q3 2026 Free cash flow | Reported | -60.00 Mil | -27.50 Mil | 5.00 Mil | -111.6% | Lower New | Guidance: 237.50 Mil for Q2 2026 | |
Insider Activity
Updated 9/1/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wong, Andrea L | See footnote | Sell | 9012026 | 40.89 | 562 | 22,979 | 1,850,795 | Form | |
| 2 | Rawlings, Amy Marie | Chief Accounting Officer | Direct | Sell | 8262026 | 38.89 | 237 | 9,217 | 2,664,276 | Form |
| 3 | Buckley, Sean Jack | Chief People & Systems Officer | Direct | Sell | 8252026 | 38.68 | 4,321 | 167,136 | 3,373,399 | Form |
| 4 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 8242026 | 37.96 | 14,904 | 565,761 | 12,719,003 | Form |
| 5 | Buckley, Sean Jack | Chief People & Systems Officer | Direct | Sell | 8242026 | 37.97 | 5,607 | 212,900 | 3,475,588 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wong, Andrea L | See footnote | Sell | 9012026 | 40.89 | 562 | 22,979 | 1,850,795 | Form | |
| 2 | Rawlings, Amy Marie | Chief Accounting Officer | Direct | Sell | 8262026 | 38.89 | 237 | 9,217 | 2,664,276 | Form |
| 3 | Buckley, Sean Jack | Chief People & Systems Officer | Direct | Sell | 8252026 | 38.68 | 4,321 | 167,136 | 3,373,399 | Form |
| 4 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 8242026 | 37.96 | 14,904 | 565,761 | 12,719,003 | Form |
| 5 | Buckley, Sean Jack | Chief People & Systems Officer | Direct | Sell | 8242026 | 37.97 | 5,607 | 212,900 | 3,475,588 | Form |
| 6 | Rawlings, Amy Marie | Chief Accounting Officer | Direct | Sell | 8242026 | 37.97 | 5,061 | 192,143 | 2,609,927 | Form |
| 7 | Chopra, Naveen K | Chief Financial Officer | Direct | Sell | 8242026 | 37.96 | 17,509 | 664,663 | 13,789,380 | Form |
| 8 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 8242026 | 37.96 | 17,934 | 680,787 | 15,110,780 | Form |
| 9 | Baszucki, David | President & CEO | Direct | Sell | 8242026 | 37.96 | 52,568 | 1,995,399 | 30,353,314 | Form |
| 10 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 8202026 | 40.00 | 6,250 | 250,000 | 16,639,920 | Form |
| 11 | Baszucki, Gregory | See Footnotes | Sell | 8052026 | 37.46 | 16,666 | 624,380 | 47,561,013 | Form | |
| 12 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 7072026 | 57.34 | 4,512 | 258,734 | 24,213,156 | Form |
| 13 | Baszucki, Gregory | See Footnotes | Sell | 7022026 | 57.69 | 16,666 | 961,392 | 73,712,946 | Form | |
| 14 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 6082026 | 41.71 | 5,978 | 249,342 | 17,800,160 | Form |
| 15 | Baszucki, Gregory | See Footnotes | Sell | 6022026 | 46.63 | 16,666 | 777,139 | 59,974,305 | Form | |
| 16 | Rawlings, Amy Marie | Chief Accounting Officer | Direct | Sell | 5272026 | 48.00 | 274 | 13,152 | 1,678,272 | Form |
| 17 | Buckley, Sean Jack | Chief People & Systems Officer | Direct | Sell | 5272026 | 46.36 | 4,744 | 219,932 | 4,503,457 | Form |
| 18 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 5222026 | 46.40 | 5,460 | 253,357 | 20,080,053 | Form |
| 19 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 5222026 | 45.28 | 17,275 | 782,170 | 19,840,530 | Form |
| 20 | Buckley, Sean Jack | Chief People & Systems Officer | Direct | Sell | 5222026 | 45.27 | 5,666 | 256,501 | 4,612,351 | Form |
| 21 | Chopra, Naveen K | Chief Financial Officer | Direct | Sell | 5222026 | 45.28 | 16,863 | 763,602 | 17,241,756 | Form |
| 22 | Rawlings, Amy Marie | Chief Accounting Officer | Direct | Sell | 5222026 | 45.24 | 2,895 | 130,969 | 1,594,160 | Form |
| 23 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 5222026 | 45.27 | 14,356 | 649,956 | 15,844,320 | Form |
| 24 | Baszucki, David | President & CEO | Direct | Sell | 5222026 | 45.28 | 50,628 | 2,292,446 | 38,588,416 | Form |
| 25 | Baszucki, Gregory | See Footnotes | Sell | 5072026 | 44.97 | 16,666 | 749,424 | 58,210,106 | Form | |
| 26 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 4152026 | 57.94 | 13,325 | 772,102 | 21,110,095 | Form |
| 27 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 4152026 | 57.94 | 18,653 | 1,080,808 | 26,391,400 | Form |
| 28 | Baszucki, Gregory | See Footnotes | Sell | 4022026 | 57.95 | 16,666 | 965,840 | 75,502,806 | Form | |
| 29 | Wong, Andrea L | See footnote | Sell | 2262026 | 66.16 | 563 | 37,249 | 2,957,592 | Form | |
| 30 | Baszucki, David | President & CEO | Direct | Sell | 2242026 | 61.63 | 10,834 | 667,706 | 49,337,669 | Form |
| 31 | Chakravarthy, Arvind | Chief People & Systems Officer | Direct | Sell | 2242026 | 61.61 | 21,413 | 1,319,234 | 10,941,089 | Form |
| 32 | Chopra, Naveen K | Chief Financial Officer | Direct | Sell | 2242026 | 61.61 | 12,714 | 783,349 | 19,982,481 | Form |
| 33 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 2242026 | 61.59 | 15,227 | 937,887 | 17,987,564 | Form |
| 34 | Rawlings, Amy Marie | Chief Accounting Officer | Direct | Sell | 2242026 | 61.57 | 2,951 | 181,683 | 2,013,537 | Form |
| 35 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 2242026 | 61.61 | 17,186 | 1,058,762 | 23,233,867 | Form |
| 36 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 2182026 | 63.94 | 60,000 | 3,836,484 | 25,213,501 | Form |
| 37 | Mastantuono, Gina | Direct | Sell | 2132026 | 33.98 | 13 | 442 | 564,766 | Form | |
| 38 | Mastantuono, Gina | Direct | Buy | 2132026 | 41.13 | 13 | 535 | 684,239 | Form | |
| 39 | Mastantuono, Gina | Direct | Sell | 2132026 | 38.68 | 9 | 348 | 642,978 | Form | |
| 40 | Mastantuono, Gina | Direct | Buy | 2132026 | 46.19 | 9 | 416 | 768,159 | Form | |
| 41 | Chakravarthy, Arvind | Chief People & Systems Officer | Direct | Sell | 2112026 | 67.29 | 19,918 | 1,340,282 | 16,187,955 | Form |
| 42 | Chakravarthy, Arvind | Chief People & Systems Officer | See Footnote | Sell | 2112026 | 67.23 | 40,646 | Form | ||
| 43 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 2112026 | 72.65 | 34,320 | 2,493,475 | 33,008,169 | Form |
| 44 | Chakravarthy, Arvind | Chief People & Systems Officer | Direct | Sell | 2112026 | 72.66 | 35,331 | 2,567,006 | 18,925,991 | Form |
| 45 | Baszucki, David | President & CEO | Direct | Sell | 2112026 | 72.66 | 272,269 | 19,782,756 | 58,953,439 | Form |
| 46 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 2112026 | 72.65 | 30,034 | 2,182,105 | 22,324,034 | Form |
| 47 | Lee, Anthony P | See footnote | Sell | 1142026 | 82.45 | 7,000 | 577,150 | 21,170,522 | Form | |
| 48 | Lee, Anthony P | See footnote | Sell | 1052026 | 79.96 | 59,000 | 4,717,480 | 20,569,653 | Form | |
| 49 | Baszucki, David | President & CEO | See Footnote | Sell | 12192025 | 84.73 | 66,896 | Form | ||
| 50 | Lee, Anthony P | See footnote | Sell | 12022025 | 92.52 | 64,287 | 5,948,116 | 24,184,767 | Form | |
| 51 | Lee, Anthony P | See Footnotes | Sell | 12022025 | 93.23 | 1,713 | 159,707 | 24,398,639 | Form | |
| 52 | Chakravarthy, Arvind | Chief People & Systems Officer | Direct | Sell | 11242025 | 95.23 | 20,912 | 1,991,466 | 17,240,868 | Form |
| 53 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 11242025 | 96.10 | 20,867 | 2,005,239 | 23,041,459 | Form |
| 54 | Baszucki, David | President & CEO | Direct | Sell | 11242025 | 95.24 | 10,584 | 1,008,013 | 18,150,139 | Form |
| 55 | Chopra, Naveen K | Chief Financial Officer | Direct | Sell | 11242025 | 95.23 | 19,424 | 1,849,788 | 32,096,637 | Form |
| 56 | Rawlings, Amy Marie | Chief Accounting Officer | Direct | Sell | 11242025 | 95.24 | 2,642 | 251,637 | 4,424,314 | Form |
| 57 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 11242025 | 95.24 | 16,782 | 1,598,373 | 35,290,690 | Form |
| 58 | Baszucki, David | President & CEO | See Footnote | Sell | 11132025 | 104.53 | 66,896 | Form | ||
| 59 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 11102025 | 101.48 | 6,000 | 608,880 | 26,449,950 | Form |
| 60 | Reinstra, Mark | Chief Legal Off. & Corp. Sec. | Direct | Sell | 11072025 | 104.60 | 2,401 | 251,145 | 40,513,044 | Form |
| 61 | Lee, Anthony P | See footnote | Sell | 11052025 | 103.79 | 52,839 | 5,484,095 | 27,608,644 | Form | |
| 62 | Lee, Anthony P | See Footnotes | Sell | 11052025 | 105.22 | 13,161 | 1,384,850 | 27,990,369 | Form | |
| 63 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 11052025 | 112.99 | 6,000 | 677,940 | 30,127,880 | Form |
| 64 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 10062025 | 135.02 | 6,000 | 810,120 | 36,812,123 | Form |
| 65 | Lee, Anthony P | See footnote | Sell | 10022025 | 136.08 | 51,222 | 6,970,112 | 36,826,119 | Form | |
| 66 | Lee, Anthony P | See Footnotes | Sell | 10022025 | 137.22 | 14,778 | 2,027,829 | 37,135,420 | Form | |
| 67 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 9222025 | 136.55 | 6,000 | 819,300 | 38,048,565 | Form |
| 68 | Kaufman, Matthew D | Chief Safety Officer | Direct | Sell | 9082025 | 134.20 | 6,000 | 805,200 | 36,907,013 | Form |
| 69 | Lee, Anthony P | See footnote | Sell | 9042025 | 122.74 | 66,000 | 8,100,944 | 33,784,372 | Form |
Investor Activity (13F)
Updated Sep 2, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Islander Capital Partners, L.P. | $25.9 Mil | 10.2% | 15 | ADD +84.8% | 13F |
| 12 West Capital Management LP | $53.7 Mil | 9.1% | 20 | TRIM -9.5% | 13F |
| Grace & Mercy Foundation, Inc. | $27.8 Mil | 6.8% | 21 | ADD +254.7% | 13F |
| Soma Equity Partners LP | $91.1 Mil | 6.7% | 20 | TRIM -14.3% | 13F |
| ValueAct Holdings, L.P. | $330.8 Mil | 5.8% | 18 | Hold | 13F |
| HMI Capital Management, L.P. | $43.4 Mil | 5.8% | 11 | New | 13F |
| Gavilan Investment Partners LLC | $17.5 Mil | 4.7% | 14 | New | 13F |
| SRS Investment Management, LLC | $373.4 Mil | 3.9% | 29 | ADD +124.7% | 13F |
| Foxhaven Asset Management, LP | $120.5 Mil | 3.8% | 14 | TRIM -16.2% | 13F |
| Kora Management LP | $22.1 Mil | 3.1% | 9 | ADD +100.0% | 13F |
| Spyglass Capital Management LLC | $44.1 Mil | 3.1% | 25 | New | 13F |
| Long Corridor Asset Management Ltd | $11.1 Mil | 2.7% | 38 | ADD +17.4% | 13F |
| Whale Rock Capital Management LLC | $199.8 Mil | 2.6% | 35 | TRIM -14.0% | 13F |
| KADENSA CAPITAL Ltd | $17.6 Mil | 2.5% | 39 | ADD +14.2% | 13F |
| Tairen Capital Ltd | $17.9 Mil | 1.9% | 44 | Hold | 13F |
| Headwater Capital Co Ltd | $11.3 Mil | 1.8% | 15 | New | 13F |
| Kinetic Partners Management, LP | $10.2 Mil | 0.6% | 49 | New | 13F |
| Durable Capital Partners LP | $36.6 Mil | 0.4% | 37 | TRIM -44.4% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Spyglass Capital Management LLC | $44.1 Mil | 3.1% | 25 | New | 13F |
| HMI Capital Management, L.P. | $43.4 Mil | 5.8% | 11 | New | 13F |
| Gavilan Investment Partners LLC | $17.5 Mil | 4.7% | 14 | New | 13F |
| Headwater Capital Co Ltd | $11.3 Mil | 1.8% | 15 | New | 13F |
| Kinetic Partners Management, LP | $10.2 Mil | 0.6% | 49 | New | 13F |
| Grace & Mercy Foundation, Inc. | $27.8 Mil | 6.8% | 21 | ADD +254.7% | 13F |
| SRS Investment Management, LLC | $373.4 Mil | 3.9% | 29 | ADD +124.7% | 13F |
| Kora Management LP | $22.1 Mil | 3.1% | 9 | ADD +100.0% | 13F |
| Islander Capital Partners, L.P. | $25.9 Mil | 10.2% | 15 | ADD +84.8% | 13F |
| Long Corridor Asset Management Ltd | $11.1 Mil | 2.7% | 38 | ADD +17.4% | 13F |
| KADENSA CAPITAL Ltd | $17.6 Mil | 2.5% | 39 | ADD +14.2% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Blue Whale Capital LLP | $17.3 Mil | 0.9% | 24 | Exited | Dec 31, 2025 | 13F |
| Deepwater Asset Management, LLC | $6.7 Mil | 2.0% | 46 | Exited | Dec 31, 2025 | 13F |
| Durable Capital Partners LP | $36.6 Mil | 0.4% | 37 | TRIM -44.4% | Mar 31, 2026 | 13F |
| Foxhaven Asset Management, LP | $120.5 Mil | 3.8% | 14 | TRIM -16.2% | Mar 31, 2026 | 13F |
| Soma Equity Partners LP | $91.1 Mil | 6.7% | 20 | TRIM -14.3% | Mar 31, 2026 | 13F |
| Whale Rock Capital Management LLC | $199.8 Mil | 2.6% | 35 | TRIM -14.0% | Mar 31, 2026 | 13F |
| 12 West Capital Management LP | $53.7 Mil | 9.1% | 20 | TRIM -9.5% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| SRS Investment Management, LLC | $373.4 Mil | 3.9% | 29 | ADD +124.7% | 13F |
| ValueAct Holdings, L.P. | $330.8 Mil | 5.8% | 18 | Hold | 13F |
| Whale Rock Capital Management LLC | $199.8 Mil | 2.6% | 35 | TRIM -14.0% | 13F |
| Foxhaven Asset Management, LP | $120.5 Mil | 3.8% | 14 | TRIM -16.2% | 13F |
| Soma Equity Partners LP | $91.1 Mil | 6.7% | 20 | TRIM -14.3% | 13F |
| 12 West Capital Management LP | $53.7 Mil | 9.1% | 20 | TRIM -9.5% | 13F |
| Spyglass Capital Management LLC | $44.1 Mil | 3.1% | 25 | New | 13F |
| HMI Capital Management, L.P. | $43.4 Mil | 5.8% | 11 | New | 13F |
| Durable Capital Partners LP | $36.6 Mil | 0.4% | 37 | TRIM -44.4% | 13F |
| Grace & Mercy Foundation, Inc. | $27.8 Mil | 6.8% | 21 | ADD +254.7% | 13F |
| Islander Capital Partners, L.P. | $25.9 Mil | 10.2% | 15 | ADD +84.8% | 13F |
| Kora Management LP | $22.1 Mil | 3.1% | 9 | ADD +100.0% | 13F |
| Tairen Capital Ltd | $17.9 Mil | 1.9% | 44 | Hold | 13F |
| KADENSA CAPITAL Ltd | $17.6 Mil | 2.5% | 39 | ADD +14.2% | 13F |
| Gavilan Investment Partners LLC | $17.5 Mil | 4.7% | 14 | New | 13F |
| Headwater Capital Co Ltd | $11.3 Mil | 1.8% | 15 | New | 13F |
| Long Corridor Asset Management Ltd | $11.1 Mil | 2.7% | 38 | ADD +17.4% | 13F |
| Kinetic Partners Management, LP | $10.2 Mil | 0.6% | 49 | New | 13F |
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