Allstate Corp Invests $822,000 in Roblox Co. (NYSE:RBLX)

Allstate Corp acquired a new stake in shares of Roblox Co. (NYSE:RBLX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,214 shares of the company’s stock, valued at approximately $822,000.

A number of other large investors also recently bought and sold shares of RBLX. Versant Capital Management Inc boosted its position in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after purchasing an additional 230 shares in the last quarter. Rakuten Securities Inc. grew its stake in Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after purchasing an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Roblox by 188.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 633 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $69,000 after buying an additional 271 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. OTR Global raised shares of Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. Moffett Nathanson downgraded Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a research report on Friday, February 7th. HSBC assumed coverage on Roblox in a research report on Thursday, December 12th. They issued a “buy” rating and a $63.00 price objective for the company. FBN Securities began coverage on Roblox in a research report on Friday. They set a “sector perform” rating and a $65.00 target price on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $72.00 price target (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.23.

Insider Activity

In other Roblox news, insider Mark Reinstra sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $64.98, for a total value of $3,249,000.00. Following the transaction, the insider now directly owns 281,161 shares in the company, valued at $18,269,841.78. The trade was a 15.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 26,154 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the sale, the chief financial officer now owns 417,079 shares of the company’s stock, valued at $27,502,189.26. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 926,466 shares of company stock worth $60,212,297 over the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Roblox Trading Down 1.2 %

Shares of RBLX stock opened at $58.36 on Tuesday. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The stock’s fifty day moving average is $63.07 and its two-hundred day moving average is $55.65. The firm has a market capitalization of $36.13 billion, a P/E ratio of -40.25 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Research analysts expect that Roblox Co. will post -1.49 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.