Assenagon Asset Management S.A. Grows Stock Position in Roblox Co. (NYSE:RBLX)

Assenagon Asset Management S.A. boosted its stake in shares of Roblox Co. (NYSE:RBLX) by 853.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 278,576 shares of the company’s stock after buying an additional 249,347 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Roblox were worth $12,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RBLX. V Square Quantitative Management LLC purchased a new position in shares of Roblox in the third quarter valued at about $27,000. PARK CIRCLE Co purchased a new position in Roblox during the 2nd quarter valued at about $30,000. Strategic Financial Concepts LLC bought a new position in Roblox during the 2nd quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC lifted its holdings in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after buying an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Roblox in the 1st quarter worth approximately $39,000. 91.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mark Reinstra sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the completion of the transaction, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now owns 342,656 shares in the company, valued at approximately $13,706,240. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arvind Chakravarthy sold 592 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total value of $25,645.44. Following the completion of the sale, the insider now owns 276,892 shares of the company’s stock, valued at $11,994,961.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 779,341 shares of company stock valued at $33,831,012 over the last three months. Insiders own 22.15% of the company’s stock.

Roblox Stock Performance

Shares of RBLX opened at $42.14 on Monday. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $48.43. The business’s fifty day simple moving average is $43.29 and its two-hundred day simple moving average is $39.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The company has a market cap of $24.92 billion, a price-to-earnings ratio of -22.66 and a beta of 1.60.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. The company had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. Roblox’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the company earned ($0.46) EPS. Research analysts anticipate that Roblox Co. will post -1.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RBLX has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Roblox from $48.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Benchmark lifted their target price on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wolfe Research initiated coverage on shares of Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wedbush reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research report on Friday. Finally, JPMorgan Chase & Co. increased their target price on Roblox from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Roblox Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.