Algert Global LLC Boosts Stock Position in Roblox Co. (NYSE:RBLX)

Algert Global LLC raised its position in Roblox Co. (NYSE:RBLX) by 42.6% during the third quarter, Holdings Channel.com reports. The firm owned 18,906 shares of the company’s stock after buying an additional 5,646 shares during the period. Algert Global LLC’s holdings in Roblox were worth $837,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RBLX. Baillie Gifford & Co. grew its position in shares of Roblox by 1.9% in the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after purchasing an additional 535,414 shares during the period. ARK Investment Management LLC boosted its stake in Roblox by 12.9% in the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after buying an additional 1,519,591 shares during the last quarter. Dragoneer Investment Group LLC grew its holdings in Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after buying an additional 2,488,044 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Roblox by 17.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company’s stock valued at $371,535,000 after acquiring an additional 1,491,726 shares during the last quarter. Finally, Greenvale Capital LLP purchased a new position in shares of Roblox during the 2nd quarter worth about $89,304,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group increased their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Needham & Company LLC raised their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $45.56, for a total value of $7,593,302.96. Following the completion of the transaction, the chief executive officer now owns 135,755 shares of the company’s stock, valued at $6,184,997.80. The trade was a 55.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,013,607 shares of company stock valued at $48,434,122 in the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Roblox Stock Up 1.6 %

Shares of Roblox stock opened at $50.15 on Friday. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $55.10. The company has a market capitalization of $30.47 billion, a PE ratio of -30.58 and a beta of 1.56. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day moving average of $46.35 and a 200-day moving average of $41.46.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned ($0.45) EPS. Roblox’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts forecast that Roblox Co. will post -1.56 EPS for the current fiscal year.

Roblox Company 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.