Geode Capital Management LLC Has $495.56 Million Stake in Roblox Co. (NYSE:RBLX)

Geode Capital Management LLC grew its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,579,173 shares of the company's stock after acquiring an additional 246,610 shares during the period. Geode Capital Management LLC owned about 1.41% of Roblox worth $495,564,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc increased its holdings in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company's stock valued at $30,000 after buying an additional 239 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after acquiring an additional 230 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock worth $55,000 after purchasing an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Roblox by 188.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company's stock worth $56,000 after purchasing an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Roblox by 29.2% in the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company's stock worth $69,000 after purchasing an additional 271 shares during the period. Institutional investors own 94.46% of the company's stock.

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Roblox Stock Performance

Shares of NYSE RBLX traded up $1.06 during trading hours on Wednesday, hitting $52.28. 1,861,671 shares of the company's stock were exchanged, compared to its average volume of 7,830,693. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The company's 50-day moving average price is $61.40 and its 200-day moving average price is $56.05. The stock has a market capitalization of $32.36 billion, a price-to-earnings ratio of -36.02 and a beta of 1.49. Roblox Co. has a 1-year low of $29.55 and a 1-year 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 (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts expect that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. CICC Research initiated coverage on shares of Roblox in a research report on Tuesday, January 14th. They issued an "outperform" rating on the stock. Piper Sandler reiterated an "overweight" rating and set a $72.00 price target (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Benchmark restated a "buy" rating and set a $71.00 price objective on shares of Roblox in a research report on Tuesday, March 18th. Morgan Stanley raised their target price on Roblox from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Finally, Moffett Nathanson lowered shares of Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price target for the company. in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Roblox presently has a consensus rating of "Moderate Buy" and an average price target of $64.23.

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 138,555 shares of the 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 completion of the sale, the chief executive officer now directly owns 129,301 shares of the company's stock, valued at approximately $9,260,537.62. This represents a 51.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Guthrie sold 50,000 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $58.79, for a total transaction of $2,939,500.00. Following the completion of the transaction, the chief financial officer now directly owns 516,434 shares of the company's stock, valued at approximately $30,361,154.86. The trade was a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,003,666 shares of company stock worth $64,800,781. Company insiders own 22.15% of the company's stock.

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.