Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Roblox Co. (NYSE:RBLX)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Roblox Co. (NYSE:RBLX) during the third quarter, Holdings Channel reports. The institutional investor bought 349,221 shares of the company’s stock, valued at approximately $15,457,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Roblox during the 3rd quarter worth approximately $27,000. Frazier Financial Advisors LLC lifted its position in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares during the last quarter. PARK CIRCLE Co acquired a new position in Roblox during the 2nd quarter valued at about $30,000. GAMMA Investing LLC boosted its stake in Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares during the period. Finally, 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 worth $37,000 after buying an additional 506 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Roblox Stock Performance

NYSE RBLX opened at $51.51 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $55.10. The firm has a 50-day simple moving average of $45.85 and a 200 day simple moving average of $40.82.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.45) earnings per share. As a group, research analysts forecast that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Arvind Chakravarthy sold 592 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the sale, the insider now directly owns 276,892 shares of the company’s stock, valued at $11,994,961.44. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amy Marie Rawlings sold 12,258 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $44.09, for a total value of $540,455.22. Following the completion of the transaction, the chief accounting officer now owns 87,360 shares in the company, valued at $3,851,702.40. The trade was a 12.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 974,620 shares of company stock valued at $46,189,557. 22.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RBLX. JPMorgan Chase & Co. increased their target price 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. Piper Sandler upped their target price on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Roth Mkm lifted their price objective on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. BTIG Research upped their target price on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company upped their price target on shares of Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox 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.