Penserra Capital Management LLC Grows Stake in Roblox Co. (NYSE:RBLX)

Penserra Capital Management LLC lifted its stake in shares of Roblox Co. (NYSE:RBLX) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,999 shares of the company’s stock after purchasing an additional 6,941 shares during the period. Penserra Capital Management LLC’s holdings in Roblox were worth $3,716,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RBLX. Pitcairn Co. purchased a new stake in Roblox in the third quarter worth $289,000. Algert Global LLC grew its stake in shares of Roblox by 42.6% during the 3rd quarter. Algert Global LLC now owns 18,906 shares of the company’s stock worth $837,000 after acquiring an additional 5,646 shares during the period. Cerity Partners LLC increased its holdings in Roblox by 434.1% in the 3rd quarter. Cerity Partners LLC now owns 94,973 shares of the company’s stock worth $4,204,000 after acquiring an additional 77,192 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in Roblox by 12.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,270 shares of the company’s stock valued at $455,000 after acquiring an additional 1,140 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Roblox by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,015,344 shares of the company’s stock valued at $89,199,000 after purchasing an additional 117,515 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on RBLX shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley raised shares of Roblox from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $65.00 in a report on Monday, November 4th. BTIG Research raised their price target on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group raised their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.30.

Roblox Price Performance

RBLX opened at $49.16 on Tuesday. The stock has a market capitalization of $29.87 billion, a P/E ratio of -29.98 and a beta of 1.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $55.10. The stock has a 50-day moving average price of $46.06 and a 200-day moving average price of $41.09.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned ($0.45) earnings per share. Equities analysts predict that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $14,643,026. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,010,503 shares of company stock worth $48,145,999 in the last 90 days. 22.15% of the stock is owned by company insiders.

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.