Fred Alger Management LLC Grows Stock Position in Roblox Co. (NYSE:RBLX)

Fred Alger Management LLC grew its stake in Roblox Co. (NYSE:RBLX - Free Report) by 37.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 348,966 shares of the company's stock after buying an additional 95,710 shares during the quarter. Fred Alger Management LLC owned 0.06% of Roblox worth $20,191,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Durable Capital Partners LP purchased a new position in shares of Roblox in the 4th quarter valued at about $246,560,000. Colonial Trust Co SC purchased a new stake in Roblox during the fourth quarter worth approximately $41,000. Concentric Capital Strategies LP purchased a new stake in Roblox during the fourth quarter worth approximately $3,055,000. Bridgefront Capital LLC purchased a new stake in Roblox during the fourth quarter worth approximately $1,295,000. Finally, Captrust Financial Advisors lifted its stake in Roblox by 22.9% during the fourth quarter. Captrust Financial Advisors now owns 22,710 shares of the company's stock worth $1,314,000 after purchasing an additional 4,230 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

Roblox Price Performance

Roblox stock traded up $1.84 during trading hours on Friday, hitting $71.89. The stock had a trading volume of 7,283,366 shares, compared to its average volume of 7,708,258. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The stock has a market capitalization of $45.29 billion, a price-to-earnings ratio of -49.58 and a beta of 1.46. Roblox Co. has a 1-year low of $30.83 and a 1-year high of $75.74. The stock's fifty day moving average is $60.65 and its two-hundred day moving average is $59.67.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company earned ($0.43) earnings per share. Roblox's revenue was up 30.6% compared to the same quarter last year. As a group, analysts predict that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Amy Marie Rawlings sold 4,468 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.34, for a total value of $274,067.12. Following the sale, the chief accounting officer now directly owns 75,583 shares in the company, valued at $4,636,261.22. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arvind Chakravarthy sold 982 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $61.26, for a total value of $60,157.32. Following the completion of the sale, the insider now owns 204,261 shares in the company, valued at $12,513,028.86. This represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,164,386 shares of company stock worth $146,492,013 over the last three months. 22.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RBLX has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Roblox from $70.00 to $78.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wedbush restated an "outperform" rating and set a $83.00 target price on shares of Roblox in a research note on Thursday, April 24th. Morgan Stanley decreased their target price on Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets restated an "outperform" rating on shares of Roblox in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Roblox in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.91.

About Roblox

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.