Fred Alger Management LLC Buys 113,901 Shares of Roblox Corporation $RBLX

Key Points

• Fred Alger Management LLC has increased its holdings in Roblox Corporation by 32.6% during the first quarter, owning a total of 462,867 shares valued at approximately $26.98 million.
• Research analysts have recently boosted their price targets for Roblox, with Canaccord Genuity raising it to $160.00, while the average consensus price target is currently $119.00.
• Roblox reported a significant revenue increase of 50.5% year-over-year, but had a negative earnings per share of ($0.41), missing consensus estimates.

Fred Alger Management LLC boosted its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 462,867 shares of the company's stock after purchasing an additional 113,901 shares during the period. Fred Alger Management LLC owned 0.07% of Roblox worth $26,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBLX. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after acquiring an additional 240 shares in the last quarter. Larson Financial Group LLC lifted its position in Roblox by 819.0% during the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after acquiring an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Roblox during the 1st quarter worth about $39,000. Headlands Technologies LLC bought a new position in shares of Roblox during the 1st quarter worth about $57,000. Finally, TD Private Client Wealth LLC bought a new position in shares of Roblox during the 1st quarter worth about $58,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Trading Up 0.3%

NYSE:RBLX traded up $0.46 during trading hours on Friday, hitting $133.42. The stock had a trading volume of 4,454,055 shares, compared to its average volume of 8,768,593. Roblox Corporation has a one year low of $37.50 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $86.06 billion, a price-to-earnings ratio of -93.30 and a beta of 1.62. The business's 50 day moving average is $122.30 and its 200-day moving average is $90.47.

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 the consensus estimate of ($0.37) by ($0.04). Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company posted ($0.32) EPS. The firm's revenue for the quarter was up 50.5% on a year-over-year basis. Roblox has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.20, for a total value of $805,200.00. Following the completion of the sale, the insider owned 275,015 shares of the company's stock, valued at approximately $36,907,013. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $122.74, for a total transaction of $8,100,840.00. Following the sale, the director directly owned 275,248 shares of the company's stock, valued at $33,783,939.52. This represents a 19.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,993,861 shares of company stock valued at $210,622,673. Corporate insiders own 12.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RBLX shares. Wedbush reissued an "outperform" rating and issued a $165.00 target price on shares of Roblox in a research note on Thursday, September 4th. Wells Fargo & Company upped their target price on shares of Roblox from $116.00 to $153.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Benchmark boosted their price target on shares of Roblox from $77.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Arete upgraded shares of Roblox from a "sell" rating to a "neutral" rating and set a $116.00 target price on the stock in a research report on Tuesday. Finally, Barclays upped their target price on shares of Roblox from $62.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Twenty research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.16.

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.