Resona Asset Management Co. Ltd. Buys Shares of 135,814 Roblox Co. (NYSE:RBLX)

Resona Asset Management Co. Ltd. acquired a new position in shares of Roblox Co. (NYSE:RBLX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 135,814 shares of the company's stock, valued at approximately $7,888,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wealthfront Advisers LLC increased its stake in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock valued at $1,063,365,000 after buying an additional 17,312,325 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Roblox by 1,084.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock valued at $278,500,000 after acquiring an additional 4,406,885 shares during the period. Ieq Capital LLC increased its stake in shares of Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock valued at $960,049,000 after acquiring an additional 3,507,901 shares during the period. Norges Bank bought a new stake in Roblox during the fourth quarter worth approximately $167,211,000. Finally, Amundi lifted its position in Roblox by 111.4% in the fourth quarter. Amundi now owns 3,191,137 shares of the company's stock worth $198,010,000 after purchasing an additional 1,681,263 shares during the period. 94.46% of the stock is owned by institutional investors.

Roblox Stock Up 2.1 %

Shares of NYSE RBLX traded up $1.16 during mid-day trading on Friday, reaching $57.28. 5,987,783 shares of the company traded hands, compared to its average volume of 7,883,882. The company's fifty day moving average is $60.20 and its two-hundred day moving average is $56.34. 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 has a market cap of $36.00 billion, a PE ratio of -39.50 and a beta of 1.49.

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Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating 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%. On average, analysts expect that Roblox Co. will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 138,555 shares of Roblox stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the sale, the chief executive officer now owns 129,301 shares of the company's stock, valued at approximately $9,260,537.62. This trade represents a 51.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $64.98, for a total value of $3,249,000.00. Following the completion of the transaction, the insider now directly owns 281,161 shares of the company's stock, valued at approximately $18,269,841.78. The trade was a 15.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,232,833 shares of company stock valued at $76,827,466 in the last quarter. Insiders own 22.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RBLX shares. Macquarie boosted their price objective on Roblox from $71.00 to $76.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. OTR Global raised shares of Roblox from a "mixed" rating to a "positive" rating in a research note on Monday, February 3rd. Moffett Nathanson lowered shares of Roblox from a "neutral" rating to a "sell" rating and set a $34.00 target price for the company. in a research note on Friday, February 7th. FBN Securities began coverage on Roblox in a research report on Friday, March 28th. They set a "sector perform" rating and a $65.00 price objective for the company. Finally, Barclays decreased their target price on Roblox from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.22.

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.