Roblox Corporation $RBLX Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in shares of Roblox Corporation (NYSE:RBLX) by 27.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,402,708 shares of the company’s stock after buying an additional 521,643 shares during the period. Roblox comprises 1.3% of Fred Alger Management LLC’s portfolio, making the stock its 17th largest holding. Fred Alger Management LLC’s holdings in Roblox were worth $332,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its stake in shares of Roblox by 2.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after acquiring an additional 231 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Roblox by 70.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock worth $1,368,000 after acquiring an additional 5,363 shares during the period. Los Angeles Capital Management LLC purchased a new position in Roblox in the 2nd quarter valued at approximately $285,000. Allworth Financial LP increased its stake in Roblox by 95.7% in the 2nd quarter. Allworth Financial LP now owns 3,090 shares of the company’s stock valued at $325,000 after purchasing an additional 1,511 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Roblox by 58.0% during the second quarter. PNC Financial Services Group Inc. now owns 10,903 shares of the company’s stock worth $1,147,000 after purchasing an additional 4,004 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 272,269 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the sale, the chief executive officer directly owned 811,373 shares of the company’s stock, valued at $58,954,362.18. This trade represents a 25.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony P. Lee sold 59,000 shares of Roblox stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $79.96, for a total transaction of $4,717,640.00. Following the sale, the director owned 257,258 shares of the company’s stock, valued at approximately $20,570,349.68. This trade represents a 18.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 703,144 shares of company stock worth $51,681,640 in the last ninety days. Company insiders own 12.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RBLX shares. B. Riley Financial started coverage on Roblox in a research report on Tuesday, December 9th. They set a “buy” rating and a $125.00 target price on the stock. Wolfe Research set a $100.00 price target on Roblox in a research report on Monday, January 5th. Roth Mkm raised Roblox from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $78.00 to $84.00 in a research note on Monday, February 9th. TD Cowen reiterated a “sell” rating on shares of Roblox in a research report on Tuesday, January 27th. Finally, Barclays lowered their price objective on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $117.35.

Roblox Stock Performance

Roblox stock opened at $56.42 on Monday. Roblox Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59. The company has a market capitalization of $37.33 billion, a price-to-earnings ratio of -36.40 and a beta of 1.62. The stock has a fifty day moving average of $69.85 and a two-hundred day moving average of $97.25. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.04. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The business’s revenue was up 122.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) earnings per share. On average, analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Roblox Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.