Geode Capital Management LLC Increases Stake in Roblox Co. (NYSE:RBLX)

Geode Capital Management LLC lifted its position in shares of Roblox Co. (NYSE:RBLX - Free Report) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,332,563 shares of the company's stock after buying an additional 408,915 shares during the quarter. Geode Capital Management LLC owned approximately 1.37% of Roblox worth $368,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RBLX. Swedbank AB lifted its holdings in Roblox by 0.5% during the second quarter. Swedbank AB now owns 53,297 shares of the company's stock worth $1,983,000 after buying an additional 285 shares during the period. Blue Trust Inc. boosted its position in Roblox by 1,836.5% during the second quarter. Blue Trust Inc. now owns 3,931 shares of the company's stock valued at $150,000 after purchasing an additional 3,728 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Roblox by 44.9% in the second quarter. First Horizon Advisors Inc. now owns 2,593 shares of the company's stock valued at $96,000 after purchasing an additional 804 shares during the last quarter. SOL Capital Management CO raised its holdings in Roblox by 4.1% in the second quarter. SOL Capital Management CO now owns 87,997 shares of the company's stock worth $3,274,000 after purchasing an additional 3,477 shares in the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Roblox during the second quarter valued at about $96,000. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Roblox from $54.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Morgan Stanley raised Roblox from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Wedbush reissued an "outperform" rating and issued a $49.00 price objective on shares of Roblox in a research report on Friday, October 25th. Benchmark upped their target price on Roblox from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Citigroup raised their price target on Roblox from $53.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Roblox has an average rating of "Moderate Buy" and an average target price of $55.67.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 166,668 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company's stock, valued at $5,722,073.25. This trade represents a 55.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at approximately $14,643,026. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,457,267 shares of company stock worth $74,422,648. 22.15% of the stock is owned by company insiders.

Roblox Stock Performance

Shares of RBLX traded down $0.01 during mid-day trading on Friday, reaching $59.60. The company had a trading volume of 5,793,531 shares, compared to its average volume of 7,662,958. The stock has a market capitalization of $36.21 billion, a P/E ratio of -36.34 and a beta of 1.50. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $61.05. The stock has a 50 day moving average of $48.88 and a two-hundred day moving average of $43.23. 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 (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.45) EPS. On average, analysts expect that Roblox Co. will post -1.56 earnings per share for the current year.

Roblox 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.