Norges Bank Makes New Investment in Roblox Co. (NYSE:RBLX)

Norges Bank acquired a new stake in Roblox Co. (NYSE:RBLX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,889,921 shares of the company's stock, valued at approximately $167,211,000. Norges Bank owned about 0.48% of Roblox as of its most recent filing with the SEC.

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

Roblox Price Performance

NYSE:RBLX traded down $5.38 during midday trading on Friday, hitting $52.84. The company had a trading volume of 10,522,905 shares, compared to its average volume of 7,856,783. The company has a market capitalization of $32.71 billion, a PE ratio of -36.44 and a beta of 1.49. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $75.74. The stock's fifty day moving average price is $62.42 and its 200-day moving average price is $55.93.

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

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 5,879 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the completion of the sale, the chief accounting officer now directly owns 75,528 shares in the company, valued at $4,909,320. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 138,555 shares of Roblox stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $71.62, for a total value of $9,923,309.10. Following the completion of the transaction, the chief executive officer now owns 129,301 shares in the company, valued at approximately $9,260,537.62. This represents a 51.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 947,666 shares of company stock worth $61,513,341 over the last ninety days. Insiders own 22.15% of the company's stock.

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent research reports. Benchmark reissued a "buy" rating and issued a $71.00 price objective on shares of Roblox in a report on Tuesday, March 18th. Needham & Company LLC lifted their target price on shares of Roblox from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. FBN Securities assumed coverage on shares of Roblox in a research note on Friday, March 28th. They set a "sector perform" rating and a $65.00 price target on the stock. Citigroup raised their price objective on shares of Roblox from $63.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Roblox from $55.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.23.

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.