KLP Kapitalforvaltning AS Acquires New Shares in Roblox Co. (NYSE:RBLX)

KLP Kapitalforvaltning AS bought a new position in Roblox Co. (NYSE:RBLX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 160,900 shares of the company's stock, valued at approximately $9,310,000.

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

Insiders Place Their Bets

In related news, insider Arvind Chakravarthy sold 982 shares of Roblox stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $61.26, for a total transaction of $60,157.32. Following the completion of the transaction, the insider now directly owns 204,261 shares of the company's stock, valued at $12,513,028.86. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 34,099 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $57.05, for a total value of $1,945,347.95. Following the completion of the sale, the chief executive officer now owns 221,983 shares in the company, valued at $12,664,130.15. The trade was a 13.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 926,466 shares of company stock worth $60,212,297 over the last three months. Company insiders own 22.15% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on RBLX. HSBC began coverage on shares of Roblox in a report on Thursday, December 12th. They issued a "buy" rating and a $63.00 price target on the stock. Citigroup raised their price target on shares of Roblox from $63.00 to $82.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Morgan Stanley upped their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Barclays dropped their price objective on Roblox from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Finally, Benchmark restated a "buy" rating and issued a $71.00 target price on shares of Roblox in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.19.

Roblox Trading Up 1.4 %

Shares of RBLX stock traded up $0.83 during trading hours on Tuesday, reaching $62.01. The company's stock had a trading volume of 4,740,591 shares, compared to its average volume of 7,618,985. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. Roblox Co. has a one year low of $29.55 and a one year high of $75.74. The stock has a market capitalization of $38.38 billion, a P/E ratio of -42.77 and a beta of 1.49. The firm's fifty day simple moving average is $63.54 and its 200 day simple moving average is $55.11.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Equities research analysts expect that Roblox Co. will post -1.49 EPS for the current year.

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.