4,098,311 Roblox Corporation $RBLX Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Roblox stake by 216.4% in the third quarter, buying 4.1 million shares to reach 5.99 million shares valued at approximately $253.9 million. Institutional investors collectively own 94.46% of Roblox.
• Analyst sentiment remains mixed, with Roblox holding a consensus “Hold” rating and an average price target of $56.96. Recent targets range from $40 to $55, with both Buy and Neutral ratings issued.
• Roblox shares opened at $51.19 after gaining 7.7%; the company’s latest quarter showed an adjusted loss of $0.26 per share—better than expected—while revenue rose 8.3% year over year to $1.47 billion, below estimates.

Assenagon Asset Management S.A. increased its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 216.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,992,101 shares of the company's stock after buying an additional 4,098,311 shares during the quarter. Assenagon Asset Management S.A. owned 0.89% of Roblox worth $253,885,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Roblox by 379.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company's stock worth $53,102,000 after buying an additional 729,379 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Roblox by 35.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company's stock valued at $7,076,000 after acquiring an additional 34,120 shares during the period. Odyssean LLC raised its holdings in Roblox by 344.4% during the 2nd quarter. Odyssean LLC now owns 40,038 shares of the company's stock valued at $2,177,000 after acquiring an additional 31,029 shares during the period. National Pension Service raised its holdings in Roblox by 34.0% during the 2nd quarter. National Pension Service now owns 1,243,524 shares of the company's stock valued at $67,623,000 after acquiring an additional 315,244 shares during the period. Finally, Readystate Asset Management LP raised its holdings in Roblox by 685.8% during the 2nd quarter. Readystate Asset Management LP now owns 377,201 shares of the company's stock valued at $20,512,000 after acquiring an additional 329,201 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RBLX shares. Raymond James Financial restated a "buy" rating on shares of Roblox in a research report on Friday, September 11th. JPMorgan Chase & Co. lifted their price target on Roblox from $40.00 to $53.00 and gave the company a "neutral" rating in a research report on Wednesday. TD Cowen decreased their price objective on Roblox from $49.00 to $40.00 and set a "hold" rating on the stock in a research note on Friday, July 31st. Needham & Company LLC boosted their price objective on Roblox from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, September 23rd. Finally, Piper Sandler reissued a "neutral" rating and set a $47.00 price objective (down from $50.00) on shares of Roblox in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.96.

Insider Activity at Roblox

In other news, insider Mark Reinstra sold 17,934 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $680,774.64. Following the completion of the sale, the insider owned 398,064 shares of the company's stock, valued at approximately $15,110,509.44. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $40.47, for a total transaction of $674,473.02. Following the completion of the sale, the director directly owned 1,261,169 shares of the company's stock, valued at $51,039,509.43. This represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 186,390 shares of company stock worth $7,283,371 in the last quarter. 10.05% of the stock is owned by company insiders.

Roblox Trading Up 7.7%

Roblox stock opened at $51.19 on Friday. The stock has a market cap of $34.30 billion, a P/E ratio of -35.80 and a beta of 1.47. Roblox Corporation has a fifty-two week low of $33.88 and a fifty-two week high of $139.01. The firm's fifty day moving average price is $43.34 and its 200-day moving average price is $47.73. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the business posted ($0.41) earnings per share. The firm's revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.

Roblox Profile

Roblox Corporation NYSE: RBLX operates an online entertainment platform where users can create, share and experience interactive 3D content. The platform hosts user-generated games and other virtual experiences across genres, including entertainment, social activities, education and simulated environments.

Roblox provides development tools through Roblox Studio, enabling creators to build and publish experiences, digital items and other content. Users can customize avatars, interact with others and access the platform across supported computers, mobile devices, gaming consoles and virtual reality systems.

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