Allstate Corp Raises Holdings in Roblox Corporation $RBLX

Key Points

• Allstate Corp increased its stake in Roblox Corporation by 25.1%, now owning 17,786 shares worth approximately $1,037,000.
• Roblox reported a revenue of $1.44 billion for the quarter, exceeding estimates, but had a loss of ($0.41) EPS, missing analysts' expectations.
• Wall Street analysts have varying ratings for Roblox, with twenty recommending a Buy and a consensus price target of $119.00.

Allstate Corp raised its stake in Roblox Corporation (NYSE:RBLX - Free Report) by 25.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,786 shares of the company's stock after acquiring an additional 3,572 shares during the period. Allstate Corp's holdings in Roblox were worth $1,037,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in Roblox in the 1st quarter worth about $70,254,000. Fox Run Management L.L.C. raised its stake in shares of Roblox by 56.5% in the first quarter. Fox Run Management L.L.C. now owns 12,161 shares of the company's stock worth $709,000 after purchasing an additional 4,390 shares during the last quarter. Long Corridor Asset Management Ltd purchased a new stake in shares of Roblox in the first quarter worth approximately $4,372,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Roblox by 15.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,483 shares of the company's stock valued at $2,096,000 after acquiring an additional 4,760 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Roblox during the first quarter valued at $890,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RBLX shares. Oppenheimer reiterated an "outperform" rating and issued a $125.00 price objective (up previously from $80.00) on shares of Roblox in a research report on Wednesday, June 18th. Wolfe Research raised Roblox from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research report on Friday, August 22nd. Wells Fargo & Company lifted their price objective on Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. BTIG Research set a $131.00 price objective on shares of Roblox and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Wedbush reiterated an "outperform" rating and set a $165.00 target price on shares of Roblox in a research note on Monday, August 25th. Twenty research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.00.

Roblox Trading Down 1.7%

Roblox stock traded down $2.20 during midday trading on Friday, reaching $124.68. The stock had a trading volume of 5,445,299 shares, compared to its average volume of 9,673,137. The firm has a market cap of $80.42 billion, a price-to-earnings ratio of -87.19 and a beta of 1.63. The company has a fifty day moving average of $117.56 and a 200 day moving average of $86.54. Roblox Corporation has a 52-week low of $37.50 and a 52-week high of $150.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.94.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.20 billion. Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%.The business's revenue was up 50.5% compared to the same quarter last year. During the same period last year, the business posted ($0.32) earnings per share. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other news, CEO David Baszucki sold 687,500 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $87.97, for a total transaction of $60,479,375.00. Following the transaction, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $18,610,845.23. This trade represents a 76.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 4,935,047 shares of company stock worth $478,661,185 over the last 90 days. Company insiders own 12.92% of the company's stock.

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.