Principal Financial Group Inc. Has $8.05 Million Stock Position in Roblox Co. (NYSE:RBLX)

Principal Financial Group Inc. boosted its holdings in Roblox Co. (NYSE:RBLX - Free Report) by 308.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,808 shares of the company's stock after acquiring an additional 137,267 shares during the quarter. Principal Financial Group Inc.'s holdings in Roblox were worth $8,047,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Impact Partnership Wealth LLC boosted its stake in shares of Roblox by 3.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company's stock worth $298,000 after acquiring an additional 245 shares during the period. Swedbank AB increased its holdings in Roblox by 0.5% during the 2nd quarter. Swedbank AB now owns 53,297 shares of the company's stock valued at $1,983,000 after purchasing an additional 285 shares during the period. Thrive Wealth Management LLC lifted its holdings in shares of Roblox by 4.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company's stock valued at $274,000 after buying an additional 300 shares during the period. Atomi Financial Group Inc. grew its position in shares of Roblox by 0.3% during the third quarter. Atomi Financial Group Inc. now owns 136,658 shares of the company's stock valued at $6,048,000 after purchasing an additional 380 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its stake in shares of Roblox by 2.3% during the second quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company's stock valued at $659,000 after acquiring an additional 400 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Roblox Stock Down 1.4 %

Shares of RBLX stock traded down $0.72 on Wednesday, hitting $51.52. The stock had a trading volume of 13,116,658 shares, compared to its average volume of 7,595,729. The stock has a market cap of $31.30 billion, a price-to-earnings ratio of -31.85 and a beta of 1.56. 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 business has a 50 day moving average of $45.72 and a 200 day moving average of $40.74. 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 posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.02. The company had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm's revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.45) EPS. As a group, analysts expect that Roblox Co. will post -1.56 EPS for the current year.

Analyst Upgrades and Downgrades

RBLX has been the topic of several recent analyst reports. BMO Capital Markets restated an "outperform" rating and issued a $62.00 price objective (up from $56.00) on shares of Roblox in a report on Friday, November 1st. The Goldman Sachs Group increased their price objective on shares of Roblox from $45.00 to $55.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Barclays raised their target price on shares of Roblox from $40.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Piper Sandler raised their price objective on shares of Roblox from $54.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on Roblox from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.30.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 2,186 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at approximately $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony P. Lee sold 27,532 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $43.52, for a total value of $1,198,192.64. Following the transaction, the director now owns 165,190 shares in the company, valued at $7,189,068.80. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,002,152 shares of company stock worth $46,194,421 over the last quarter. Insiders own 22.15% of the company's stock.

Roblox Company 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.