Spyglass Capital Management LLC purchased a new position in Roblox Corporation (NYSE:RBLX – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 779,991 shares of the company’s stock, valued at approximately $44,116,000. Roblox makes up approximately 3.1% of Spyglass Capital Management LLC’s holdings, making the stock its 21st largest holding. Spyglass Capital Management LLC owned approximately 0.12% of Roblox at the end of the most recent reporting period.
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A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Roblox during the 4th quarter worth $435,424,000. SRS Investment Management LLC purchased a new position in Roblox in the fourth quarter worth $238,065,000. Amundi increased its stake in Roblox by 83.7% in the first quarter. Amundi now owns 5,774,151 shares of the company’s stock valued at $326,586,000 after acquiring an additional 2,631,074 shares during the last quarter. Capital International Investors raised its position in Roblox by 7.3% during the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after purchasing an additional 2,184,439 shares in the last quarter. Finally, ValueAct Holdings L.P. raised its position in Roblox by 39.5% during the fourth quarter. ValueAct Holdings L.P. now owns 5,975,821 shares of the company’s stock valued at $484,221,000 after purchasing an additional 1,692,600 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Piper Sandler set a $60.00 price target on Roblox in a research note on Tuesday, July 21st. Seaport Research Partners cut Roblox to a “neutral” rating in a report on Monday, June 29th. BMO Capital Markets restated an “outperform” rating and issued a $100.00 target price on shares of Roblox in a research report on Tuesday. Arete Research set a $95.00 target price on Roblox and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, UBS Group started coverage on shares of Roblox in a research report on Monday, June 29th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.63.
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