Connor Clark & Lunn Investment Management Ltd. Makes New $15.46 Million Investment in Roblox Co. (NYSE:RBLX)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Roblox Co. (NYSE:RBLX - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 349,221 shares of the company's stock, valued at approximately $15,457,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Roblox as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dragoneer Investment Group LLC grew its stake in Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company's stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the last quarter. Greenvale Capital LLP acquired a new stake in Roblox in the 2nd quarter valued at about $89,304,000. Marshall Wace LLP purchased a new position in Roblox in the 2nd quarter valued at about $87,543,000. ARK Investment Management LLC lifted its holdings in Roblox by 12.9% in the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company's stock valued at $496,338,000 after purchasing an additional 1,519,591 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Roblox by 17.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company's stock valued at $371,535,000 after purchasing an additional 1,491,726 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RBLX has been the topic of a number of recent research reports. Barclays upped their target price on shares of Roblox from $40.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. BTIG Research increased their price objective on shares of Roblox from $51.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Wedbush restated an "outperform" rating and issued a $49.00 price target on shares of Roblox in a report on Friday, October 25th. The Goldman Sachs Group raised their price target on shares of Roblox from $45.00 to $55.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Finally, BMO Capital Markets restated an "outperform" rating and issued a $62.00 price target (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Roblox presently has a consensus rating of "Moderate Buy" and an average price target of $55.30.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 12,258 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $44.09, for a total value of $540,455.22. Following the transaction, the chief accounting officer now owns 87,360 shares in the company, valued at $3,851,702.40. This represents a 12.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Guthrie sold 30,000 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.50, for a total value of $1,245,000.00. Following the completion of the transaction, the chief financial officer now owns 352,844 shares in the company, valued at $14,643,026. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 974,620 shares of company stock worth $46,189,557. 22.15% of the stock is owned by corporate insiders.

Roblox Price Performance

Roblox stock traded down $1.67 during midday trading on Thursday, hitting $49.85. The company's stock had a trading volume of 2,368,164 shares, compared to its average volume of 7,570,341. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The stock's 50-day moving average price is $45.85 and its 200-day moving average price is $40.82. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $55.10.

Roblox (NYSE:RBLX - Get Free Report) last issued 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. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm had revenue of $919.00 million for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the business earned ($0.45) earnings per share. Roblox's revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Roblox Co. will post -1.56 EPS 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.