Banque Pictet & Cie SA Takes Position in Roblox Co. (NYSE:RBLX)

Banque Pictet & Cie SA acquired a new stake in Roblox Co. (NYSE:RBLX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,942 shares of the company's stock, valued at approximately $228,000.

Other hedge funds have also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. grew its holdings in shares of Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company's stock worth $448,616,000 after purchasing an additional 7,835,921 shares during the period. FMR LLC grew its holdings in shares of Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company's stock worth $926,924,000 after purchasing an additional 4,115,286 shares during the period. Whale Rock Capital Management LLC purchased a new position in shares of Roblox during the 3rd quarter worth $107,491,000. Two Sigma Advisers LP grew its holdings in shares of Roblox by 32.9% during the 3rd quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company's stock worth $259,576,000 after purchasing an additional 1,452,900 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Roblox by 195.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,852,131 shares of the company's stock worth $81,975,000 after purchasing an additional 1,226,072 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. HSBC assumed coverage on Roblox in a report on Thursday, December 12th. They set a "buy" rating and a $63.00 price target for the company. Wells Fargo & Company increased their price target on Roblox from $58.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Citigroup raised their target price on Roblox from $63.00 to $82.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Needham & Company LLC raised their target price on Roblox from $60.00 to $72.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Moffett Nathanson cut Roblox from a "neutral" rating to a "sell" rating and set a $34.00 target price for the company. in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.19.

Roblox Stock Performance

RBLX traded down $2.46 during trading on Wednesday, hitting $63.65. 5,516,513 shares of the stock were exchanged, compared to its average volume of 9,222,697. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74. The firm has a market capitalization of $38.67 billion, a P/E ratio of -43.89 and a beta of 1.46. The stock has a fifty day moving average price of $63.84 and a two-hundred day moving average price of $52.01.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 795.19% and a negative net margin of 25.97%. As a group, sell-side analysts predict that Roblox Co. will post -1.49 earnings per share for the current year.

Insider Activity at Roblox

In other news, insider Mark Reinstra sold 19,525 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total value of $1,287,478.50. Following the transaction, the insider now directly owns 339,206 shares in the company, valued at $22,367,243.64. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Baszucki sold 333,334 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $57.31, for a total value of $19,103,371.54. Following the completion of the transaction, the chief executive officer now owns 129,295 shares in the company, valued at approximately $7,409,896.45. This trade represents a 72.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,069,697 shares of company stock valued at $65,912,475 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.