Allspring Global Investments Holdings LLC Boosts Holdings in Roblox Co. (NYSE:RBLX)

Allspring Global Investments Holdings LLC raised its holdings in Roblox Co. (NYSE:RBLX) by 195.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,852,131 shares of the company’s stock after purchasing an additional 1,226,072 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Roblox were worth $81,975,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RBLX. V Square Quantitative Management LLC purchased a new stake in Roblox in the third quarter valued at $27,000. PARK CIRCLE Co acquired a new position in shares of Roblox in the second quarter worth about $30,000. Strategic Financial Concepts LLC acquired a new position in shares of Roblox in the second quarter worth about $33,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Finally, Washington Trust Advisors Inc. acquired a new position in shares of Roblox during the 1st quarter worth about $39,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Roblox news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 342,656 shares in the company, valued at $13,706,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Roblox news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 342,656 shares in the company, valued at $13,706,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 166,666 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.55, for a total transaction of $7,258,304.30. Following the sale, the chief executive officer now owns 135,761 shares in the company, valued at approximately $5,912,391.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 625,673 shares of company stock valued at $27,331,806. Company insiders own 22.15% of the company’s stock.

Analyst Ratings Changes

RBLX has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Wolfe Research initiated coverage on shares of Roblox in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Needham & Company LLC upped their price target on shares of Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BTIG Research upped their price target on shares of Roblox from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Macquarie upped their price target on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.14.

Roblox Stock Performance

Roblox stock opened at $39.93 on Monday. The firm has a 50 day simple moving average of $43.08 and a 200-day simple moving average of $38.96. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $48.43. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of -21.47 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The firm had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.46) EPS. On average, analysts expect that Roblox Co. will post -1.59 EPS for the current year.

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.