Roblox Co. (NYSE:RBLX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Roblox Co. (NYSE:RBLX) by 308.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,808 shares of the company’s stock after buying an additional 137,267 shares during the quarter. Principal Financial Group Inc.’s holdings in Roblox were worth $8,047,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Roblox during the third quarter worth $27,000. PARK CIRCLE Co acquired a new stake in shares of Roblox in the second quarter valued at approximately $30,000. Strategic Financial Concepts LLC purchased a new position in Roblox during the second quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC grew its holdings in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after acquiring an additional 530 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Benchmark upped their price objective on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised their target price on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Barclays increased their price target on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Roblox in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Roblox has an average rating of “Moderate Buy” and an average price target of $55.30.

Insider Buying and Selling at Roblox

In other news, CFO Michael Guthrie sold 3,443 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.01, for a total value of $154,969.43. Following the completion of the transaction, the chief financial officer now owns 352,844 shares in the company, valued at approximately $15,881,508.44. This represents a 0.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Arvind Chakravarthy sold 14,176 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $43.94, for a total transaction of $622,893.44. Following the completion of the sale, the insider now directly owns 276,892 shares of the company’s stock, valued at approximately $12,166,634.48. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,002,152 shares of company stock worth $46,194,421 over the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Roblox Stock Performance

Shares of RBLX opened at $52.23 on Wednesday. The stock has a 50-day simple moving average of $45.72 and a 200-day simple moving average of $40.74. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10. The stock has a market capitalization of $31.73 billion, a PE ratio of -31.85 and a beta of 1.56.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million during 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 firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.45) EPS. On average, analysts predict that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

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.