Bridgefront Capital LLC Purchases Shares of 6,561 Roblox Co. (NYSE:RBLX)

Bridgefront Capital LLC acquired a new position in shares of Roblox Co. (NYSE:RBLX – Get Rating) in the third quarter, HoldingsChannel reports. The fund acquired 6,561 shares of the company’s stock, valued at approximately $235,000.

Several other large investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its position in Roblox by 161.0% during the second quarter. Renaissance Technologies LLC now owns 11,580,582 shares of the company’s stock valued at $380,538,000 after acquiring an additional 7,143,300 shares during the period. Vanguard Group Inc. grew its holdings in shares of Roblox by 29.2% during the 3rd quarter. Vanguard Group Inc. now owns 28,303,428 shares of the company’s stock worth $1,014,396,000 after purchasing an additional 6,396,902 shares during the period. State Street Corp increased its position in Roblox by 2,473.0% during the 2nd quarter. State Street Corp now owns 6,586,856 shares of the company’s stock worth $216,444,000 after purchasing an additional 6,330,861 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Roblox by 41.4% in the third quarter. Baillie Gifford & Co. now owns 20,906,989 shares of the company’s stock valued at $749,306,000 after buying an additional 6,123,973 shares during the period. Finally, BlackRock Inc. lifted its position in Roblox by 46.2% during the third quarter. BlackRock Inc. now owns 18,567,578 shares of the company’s stock valued at $665,464,000 after buying an additional 5,870,164 shares in the last quarter. 72.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RBLX. Needham & Company LLC raised their target price on shares of Roblox from $42.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Stifel Nicolaus reduced their price objective on Roblox from $44.00 to $40.00 in a research note on Tuesday, January 10th. DA Davidson increased their target price on Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. The Goldman Sachs Group upped their price target on Roblox from $19.00 to $21.00 and gave the stock a “sell” rating in a report on Thursday, February 16th. Finally, Barclays increased their price objective on shares of Roblox from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Wednesday, January 25th. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.75.

Roblox Stock Up 6.1 %

Shares of NYSE RBLX opened at $45.33 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 3.24. Roblox Co. has a twelve month low of $21.65 and a twelve month high of $53.88. The business has a 50 day simple moving average of $37.62 and a 200-day simple moving average of $36.42.

Roblox (NYSE:RBLX – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.07. The firm had revenue of $899.40 million during the quarter, compared to the consensus estimate of $884.71 million. Roblox had a negative net margin of 41.54% and a negative return on equity of 200.01%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.25) earnings per share. Analysts expect that Roblox Co. will post -1.86 EPS for the current year.

Insider Activity

In related news, Director Gregory Baszucki sold 8,334 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $38.13, for a total transaction of $317,775.42. Following the sale, the director now owns 9,905,269 shares in the company, valued at $377,687,906.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Roblox news, insider Craig Donato sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $37.48, for a total transaction of $74,960.00. Following the completion of the transaction, the insider now directly owns 1,150,491 shares of the company’s stock, valued at approximately $43,120,402.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Baszucki sold 8,334 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $38.13, for a total transaction of $317,775.42. Following the completion of the transaction, the director now owns 9,905,269 shares of the company’s stock, valued at approximately $377,687,906.97. The disclosure for this sale can be found here. In the last three months, insiders sold 617,378 shares of company stock valued at $23,518,101. Company insiders own 28.22% of the company’s stock.

About Roblox

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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.