Contrarius Group Holdings Ltd Makes New Investment in Roblox Co. (NYSE:RBLX)

Contrarius Group Holdings Ltd purchased a new stake in shares of Roblox Co. (NYSE:RBLX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 303,462 shares of the company's stock, valued at approximately $17,558,000. Roblox accounts for approximately 1.1% of Contrarius Group Holdings Ltd's portfolio, making the stock its 22nd largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in shares of Roblox in the 4th quarter valued at $259,000. Royal London Asset Management Ltd. boosted its holdings in Roblox by 5.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 222,130 shares of the company's stock valued at $12,852,000 after purchasing an additional 11,692 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Roblox by 15,140.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,524 shares of the company's stock valued at $88,000 after purchasing an additional 1,514 shares during the period. Vinva Investment Management Ltd raised its holdings in shares of Roblox by 316.6% in the 4th quarter. Vinva Investment Management Ltd now owns 23,069 shares of the company's stock worth $1,349,000 after buying an additional 17,532 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Roblox by 11.1% during the 4th quarter. Xponance Inc. now owns 97,370 shares of the company's stock worth $5,634,000 after buying an additional 9,734 shares during the period. Institutional investors and hedge funds own 94.46% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RBLX. Citigroup upped their price target on Roblox from $63.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. OTR Global raised shares of Roblox from a "mixed" rating to a "positive" rating in a report on Monday, February 3rd. Needham & Company LLC upped their price objective on shares of Roblox from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Wedbush reiterated an "outperform" rating and issued a $83.00 target price on shares of Roblox in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.19.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 5,879 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $65.00, for a total transaction of $382,135.00. Following the sale, the chief accounting officer now owns 75,528 shares of the company's stock, valued at $4,909,320. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Baszucki sold 34,099 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $57.05, for a total value of $1,945,347.95. Following the completion of the transaction, the chief executive officer now owns 221,983 shares of the company's stock, valued at $12,664,130.15. This represents a 13.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 926,466 shares of company stock worth $60,212,297. Company insiders own 22.15% of the company's stock.

Roblox Trading Up 0.1 %

Shares of Roblox stock traded up $0.07 during trading on Monday, reaching $61.23. 7,899,676 shares of the company were exchanged, compared to its average volume of 7,628,129. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $75.74. The business has a 50-day moving average price of $63.54 and a 200-day moving average price of $55.11. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The firm has a market capitalization of $37.90 billion, a price-to-earnings ratio of -42.22 and a beta of 1.49.

Roblox (NYSE:RBLX - Get Free Report) last announced 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 return on equity of 665.98% and a negative net margin of 25.97%. Sell-side analysts anticipate that Roblox Co. will post -1.49 EPS for the current fiscal year.

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.