Fred Alger Management LLC Has $11.21 Million Stock Position in Roblox Co. (NYSE:RBLX)

Fred Alger Management LLC increased its stake in shares of Roblox Co. (NYSE:RBLX) by 126.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,256 shares of the company’s stock after buying an additional 141,627 shares during the quarter. Fred Alger Management LLC’s holdings in Roblox were worth $11,209,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Roblox in the third quarter valued at about $27,000. Frazier Financial Advisors LLC grew its stake in shares of Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after buying an additional 624 shares during the period. PARK CIRCLE Co bought a new stake in shares of Roblox during the second quarter valued at approximately $30,000. GAMMA Investing LLC increased its position in shares of Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after acquiring an additional 530 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its holdings in 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 in the last quarter. Institutional investors own 91.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on RBLX shares. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price target on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Macquarie lifted their price target on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Price Performance

Roblox stock opened at $50.15 on Friday. The firm has a market cap of $30.47 billion, a PE ratio of -30.58 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $55.10. The company’s 50 day moving average is $46.35 and its two-hundred day moving average is $41.46.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.45) EPS. On average, research analysts expect that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insider Activity

In related news, insider Manuel Bronstein sold 40,739 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $45.00, for a total value of $1,833,255.00. Following the sale, the insider now owns 727,485 shares of the company’s stock, valued at approximately $32,736,825. This represents a 5.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,601 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $49.32, for a total transaction of $177,601.32. Following the transaction, the chief accounting officer now directly owns 81,407 shares in the company, valued at $4,014,993.24. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,013,607 shares of company stock valued at $48,434,122. 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.