Algert Global LLC Raises Stake in Roblox Co. (NYSE:RBLX)

Algert Global LLC raised its position in Roblox Co. (NYSE:RBLX) by 42.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,906 shares of the company’s stock after purchasing an additional 5,646 shares during the period. Algert Global LLC’s holdings in Roblox were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RBLX. DekaBank Deutsche Girozentrale boosted its holdings in Roblox by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after purchasing an additional 1,419 shares in the last quarter. Entropy Technologies LP lifted its position in shares of Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after buying an additional 62,521 shares during the last quarter. Dragoneer Investment Group LLC boosted its holdings in shares of 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 in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Roblox by 62.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after buying an additional 14,348 shares during the last quarter. Finally, KBC Group NV raised its stake in Roblox by 21.0% during the 3rd quarter. KBC Group NV now owns 64,633 shares of the company’s stock worth $2,860,000 after acquiring an additional 11,201 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on RBLX. Needham & Company LLC upped their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup raised their price target on Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $65.00 in a report on Monday, November 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Roblox Trading Up 1.6 %

Shares of RBLX 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 debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average price is $46.35 and its 200 day moving average price is $41.46. The firm has a market capitalization of $30.47 billion, a PE ratio of -30.58 and a beta of 1.56.

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

Insider Activity

In other news, CFO Michael Guthrie sold 3,443 shares of Roblox stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.01, for a total transaction of $154,969.43. Following the completion of the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $15,881,508.44. The trade was a 0.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark Reinstra sold 17,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $45.58, for a total transaction of $774,860.00. Following the completion of the sale, the insider now directly owns 327,009 shares in the company, valued at approximately $14,905,070.22. The trade was a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,013,607 shares of company stock worth $48,434,122. Company insiders own 22.15% of the company’s stock.

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.