ING Groep NV Has $7.57 Million Position in Roblox Co. (NYSE:RBLX)

ING Groep NV lowered its stake in Roblox Co. (NYSE:RBLX - Free Report) by 40.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,000 shares of the company's stock after selling 114,000 shares during the quarter. ING Groep NV's holdings in Roblox were worth $7,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBLX. DekaBank Deutsche Girozentrale boosted its stake in shares of Roblox by 2.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company's stock worth $2,318,000 after acquiring an additional 1,419 shares in the last quarter. Entropy Technologies LP grew its holdings in Roblox by 168.4% during the third quarter. Entropy Technologies LP now owns 99,649 shares of the company's stock valued at $4,410,000 after purchasing an additional 62,521 shares during the last quarter. Dragoneer Investment Group LLC boosted its stake in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company's stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the period. Itau Unibanco Holding S.A. increased its position in Roblox by 62.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company's stock worth $1,395,000 after buying an additional 14,348 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Roblox by 18.3% during the first quarter. Sei Investments Co. now owns 288,112 shares of the company's stock worth $11,000,000 after buying an additional 44,557 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Roblox

In related news, insider Mark Reinstra sold 17,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $40.47, for a total transaction of $687,990.00. Following the sale, the insider now owns 342,656 shares of the company's stock, valued at $13,867,288.32. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the transaction, the director now directly owns 4,707,579 shares of the company's stock, valued at $236,932,451.07. This represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 987,373 shares of company stock worth $44,831,579 over the last 90 days. Company insiders own 22.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on RBLX shares. BTIG Research upped their price target on Roblox from $51.00 to $56.00 and gave the company a "buy" rating in a report on Friday, November 1st. Morgan Stanley raised Roblox from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $38.00 to $65.00 in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on Roblox from $51.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Macquarie increased their target price on shares of Roblox from $50.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Roblox from $45.00 to $55.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.30.

Roblox Stock Down 3.8 %

Shares of Roblox stock traded down $2.00 during trading on Friday, reaching $50.73. The stock had a trading volume of 9,122,580 shares, compared to its average volume of 7,531,288. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a market capitalization of $30.82 billion, a price-to-earnings ratio of -30.92 and a beta of 1.56. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $55.10. The stock has a fifty day moving average price of $45.43 and a two-hundred day moving average price of $40.49.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted ($0.45) EPS. The company's quarterly revenue was up 9.5% on a year-over-year basis. Sell-side analysts predict that Roblox Co. will post -1.56 EPS 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.