Nomura Asset Management Co. Ltd. Buys 8,970 Shares of Roblox Co. (NYSE:RBLX)

Nomura Asset Management Co. Ltd. grew its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,750 shares of the company's stock after purchasing an additional 8,970 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Roblox were worth $5,787,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RBLX. V Square Quantitative Management LLC bought a new position in Roblox in the 3rd quarter valued at about $27,000. Frazier Financial Advisors LLC boosted its holdings in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company's stock valued at $28,000 after purchasing an additional 624 shares during the period. PARK CIRCLE Co acquired a new position in shares of Roblox during the 2nd quarter worth approximately $30,000. Strategic Financial Concepts LLC bought a new position in shares of Roblox during the second quarter worth approximately $33,000. Finally, Gilliland Jeter Wealth Management LLC raised its position in shares of Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company's stock valued at $37,000 after buying an additional 506 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RBLX. HSBC initiated coverage on Roblox in a report on Thursday. They set a "buy" rating and a $63.00 target price on the stock. Piper Sandler lifted their price objective on shares of Roblox from $54.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. BMO Capital Markets reiterated an "outperform" rating and issued a $62.00 price target (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on Roblox from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, BTIG Research increased their price objective on shares of Roblox from $51.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.67.

Insider Buying and Selling

In other news, insider Manuel Bronstein sold 44,888 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the completion of the transaction, the insider now directly owns 573,266 shares of the company's stock, valued at $34,401,692.66. This represents a 7.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at approximately $4,817,179.80. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,457,267 shares of company stock worth $74,422,648. 22.15% of the stock is owned by insiders.

Roblox Stock Down 0.0 %

Shares of NYSE RBLX traded down $0.02 during midday trading on Friday, hitting $59.59. 5,792,193 shares of the stock traded hands, compared to its average volume of 7,662,958. The company has a market cap of $36.20 billion, a PE ratio of -36.34 and a beta of 1.50. The business has a 50 day moving average price of $48.52 and a two-hundred day moving average price of $42.97. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox Co. has a one year low of $29.55 and a one year high of $61.05.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.02. The company 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 company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.45) earnings per share. On average, equities analysts predict that Roblox Co. will post -1.56 EPS 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.