Investment Firms Report Reduced Stakes in Roblox Amidst Stock Weakness

Investment firms Baillie Gifford & Co. and Campbell & CO Investment Adviser LLC reduced their holdings of Roblox (RBLX) stock. The firms disclosed the changes in recent SEC filings.

Baillie Gifford trimmed its position by 11.7%, selling over 3 million shares. Campbell & Co. reduced its stake by 95.9%. Both sales occurred during the third quarter of the prior year.

Roblox stock recently fell over 12% in the last five trading days. An analysis from Trefis cites slowing profit expansion and rising investment costs. These factors contribute to the recent slide in share price.