Neuberger Berman Group LLC Has $47.55 Million Stake in Roblox Co. (NYSE:RBLX)

Neuberger Berman Group LLC grew its position in shares of Roblox Co. (NYSE:RBLX - Free Report) by 399.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 821,720 shares of the company's stock after acquiring an additional 657,073 shares during the quarter. Neuberger Berman Group LLC owned about 0.14% of Roblox worth $47,545,000 at the end of the most recent quarter.

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

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Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays dropped their price target on shares of Roblox from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Oppenheimer upgraded Roblox from a "market perform" rating to an "outperform" rating and set a $70.00 price target for the company in a research note on Thursday, April 10th. OTR Global upgraded Roblox from a "mixed" rating to a "positive" rating in a research report on Monday, February 3rd. Morgan Stanley raised their price objective on Roblox from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Finally, Benchmark restated a "buy" rating and issued a $71.00 price target on shares of Roblox in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $64.22.

Insider Buying and Selling

In other Roblox news, CFO Michael Guthrie sold 26,154 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total value of $1,724,594.76. Following the completion of the transaction, the chief financial officer now directly owns 417,079 shares in the company, valued at $27,502,189.26. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Baszucki sold 229,167 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the sale, the chief executive officer now owns 221,983 shares in the company, valued at $11,649,667.84. This represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,232,833 shares of company stock worth $76,827,466 in the last three months. 22.15% of the stock is currently owned by insiders.

Roblox Price Performance

NYSE:RBLX traded up $2.22 during mid-day trading on Tuesday, reaching $59.13. 3,325,006 shares of the stock were exchanged, compared to its average volume of 7,852,420. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74. 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 firm has a market capitalization of $37.16 billion, a PE ratio of -40.78 and a beta of 1.49. The business has a fifty day moving average price of $59.83 and a 200 day moving average price of $56.43.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping 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%. Research analysts expect that Roblox Co. will post -1.49 earnings per share for the current fiscal 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.