Fred Alger Management LLC Has $24.24 Million Holdings in Roblox Corporation $RBLX

Fred Alger Management LLC cut its holdings in Roblox Corporation (NYSE:RBLX) by 87.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 299,114 shares of the company’s stock after selling 2,103,594 shares during the quarter. Fred Alger Management LLC’s holdings in Roblox were worth $24,237,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. lifted its stake in Roblox by 164.4% in the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 194 shares during the period. Fideuram Asset Management Ireland dac acquired a new position in Roblox in the fourth quarter valued at approximately $27,000. GW&K Investment Management LLC lifted its stake in Roblox by 76.3% in the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares during the period. Indiana Trust & Investment Management Co bought a new stake in shares of Roblox during the fourth quarter valued at approximately $32,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Roblox during the fourth quarter valued at approximately $32,000. 94.46% of the stock is owned by institutional investors and hedge funds.

More Roblox News

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Roblox announced the global rollout of Roblox Kids and Roblox Select, new age-based accounts for users under 16 designed to strengthen child safety and adapt protections as children grow. Roblox Kids and Roblox Select Accounts Now Available Worldwide
• Positive Sentiment: Traders bought an unusually large number of Roblox call options, signaling speculative interest that can support the stock in the short term. Unusual options trading activity
• Positive Sentiment: Coverage around Roblox’s safety upgrades and global platform durability has highlighted potential improvements to the company’s long-term compliance posture and international access, including recent reporting that Russia lifted its ban after Roblox pledged better protections for young users. Roblox Sprints on Kids Products Rollout
• Neutral Sentiment: Analysts also pointed to stronger weekend engagement tied to a popular game, which may help offset some concerns about user growth, but this appears more like a usage trend than a major new catalyst. Roblox sees weekend engagement surge on Grow a Garden 2 — TD Cowen
• Negative Sentiment: Roblox faces multiple securities class action notices and law-firm reminders ahead of the August 7 lead-plaintiff deadline, keeping investor focus on alleged disclosure issues around the impact of age-verification changes on DAUs and growth expectations. RBLX Court Deadline: Roblox Corporation Investors are Notified of the Important August 7 Deadline in the Pending Securities Fraud Class Action Lawsuit

Insider Buying and Selling at Roblox

In related news, insider Mark Reinstra sold 5,978 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $41.71, for a total transaction of $249,342.38. Following the completion of the sale, the insider owned 426,760 shares in the company, valued at approximately $17,800,159.60. This represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Baszucki sold 50,628 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $2,292,435.84. Following the sale, the chief executive officer owned 852,214 shares of the company’s stock, valued at $38,588,249.92. This trade represents a 5.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 189,449 shares of company stock valued at $9,179,410 in the last three months. Insiders own 10.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RBLX. UBS Group decreased their price objective on Roblox from $74.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Barclays decreased their price objective on Roblox from $115.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Citigroup decreased their price objective on Roblox from $90.00 to $70.00 and set a “buy” rating for the company in a report on Monday, May 4th. Wolfe Research began coverage on Roblox in a report on Friday, May 1st. They set an “outperform” rating for the company. Finally, BTIG Research downgraded Roblox from a “buy” rating to a “neutral” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.07.

Roblox Trading Up 8.4%

Shares of Roblox stock opened at $49.48 on Wednesday. The stock has a fifty day simple moving average of $49.56 and a 200 day simple moving average of $64.76. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59. The company has a market capitalization of $33.23 billion, a P/E ratio of -31.32 and a beta of 1.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company posted ($0.32) earnings per share. Roblox’s revenue was up 43.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Roblox Corporation will post -1.4 earnings per share for the current fiscal year.

Roblox announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.