Norges Bank Takes Position in Roblox Co. (NYSE:RBLX)

Norges Bank bought a new position in shares of Roblox Co. (NYSE:RBLX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company's stock worth $30,000 after buying an additional 239 shares during the period. Parkside Financial Bank & Trust lifted its stake in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after acquiring an additional 230 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in 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 acquiring an additional 195 shares during the period. EverSource Wealth Advisors LLC grew 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 acquiring an additional 633 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in 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 purchasing an additional 271 shares during the period. Hedge funds and other institutional investors own 94.46% of the company's stock.

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Insider Buying and Selling at Roblox

In related news, CAO Amy Marie Rawlings sold 5,879 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $65.00, for a total value of $382,135.00. Following the sale, the chief accounting officer now directly owns 75,528 shares in the company, valued at $4,909,320. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Arvind Chakravarthy sold 982 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $61.26, for a total value of $60,157.32. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold 926,466 shares of company stock worth $60,212,297 over the last quarter. 22.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Roth Mkm raised their price objective on shares of Roblox from $54.00 to $70.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Wedbush reissued an "outperform" rating and issued a $83.00 price target on shares of Roblox in a research report on Friday, February 7th. Macquarie boosted their price target on shares of Roblox from $71.00 to $76.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Benchmark reiterated a "buy" rating and issued a $71.00 price objective on shares of Roblox in a research note on Tuesday, March 18th. Finally, Morgan Stanley boosted their target price on Roblox from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.23.

Roblox Stock Down 5.5 %

Shares of NYSE:RBLX traded down $3.38 during mid-day trading on Thursday, hitting $58.23. 6,556,635 shares of the company traded hands, compared to its average volume of 9,039,422. The firm has a market cap of $36.05 billion, a P/E ratio of -40.16 and a beta of 1.49. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $75.74. The firm's 50 day simple moving average is $62.88 and its 200 day simple moving average is $55.80. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last announced its earnings results 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%. On average, equities analysts anticipate that Roblox Co. will post -1.49 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.