DnB Asset Management AS Raises Position in Roblox Co. (NYSE:RBLX)

DnB Asset Management AS lifted its stake in Roblox Co. (NYSE:RBLX - Free Report) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,189 shares of the company's stock after buying an additional 5,629 shares during the period. DnB Asset Management AS's holdings in Roblox were worth $4,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Roblox by 21.3% during the third quarter. The Manufacturers Life Insurance Company now owns 34,645 shares of the company's stock worth $1,533,000 after purchasing an additional 6,077 shares during the last quarter. D.A. Davidson & CO. grew its stake in Roblox by 3.5% during the 3rd quarter. D.A. Davidson & CO. now owns 23,711 shares of the company's stock worth $1,049,000 after buying an additional 808 shares during the last quarter. Townsquare Capital LLC acquired a new position in Roblox during the third quarter worth approximately $547,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Roblox in the third quarter valued at approximately $2,337,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Roblox by 1.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,487 shares of the company's stock valued at $4,448,000 after buying an additional 1,546 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Price Performance

Shares of NYSE:RBLX traded down $5.38 during trading on Friday, hitting $52.84. 10,522,905 shares of the stock were exchanged, compared to its average volume of 7,848,377. The company has a market cap of $32.71 billion, a PE ratio of -36.44 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The company has a fifty day moving average price of $62.42 and a two-hundred day moving average price of $55.86. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $75.74.

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

Analyst Ratings Changes

A number of brokerages have recently commented on RBLX. JPMorgan Chase & Co. lifted their target price on shares of Roblox from $62.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, January 10th. OTR Global upgraded shares of Roblox from a "mixed" rating to a "positive" rating in a research note on Monday, February 3rd. Citigroup upped their target price on shares of Roblox from $63.00 to $82.00 and gave the company a "buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group boosted their price target on Roblox from $55.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $71.00 price objective on shares of Roblox in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.23.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 34,099 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $57.05, for a total transaction 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 approximately $12,664,130.15. This trade represents a 13.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anthony P. Lee sold 21,200 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $61.37, for a total value of $1,301,044.00. Following the completion of the sale, the director now owns 6,589,757 shares in the company, valued at $404,413,387.09. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 947,666 shares of company stock worth $61,513,341. 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.