Fmr LLC Boosts Stock Position in Roblox Co. (NYSE:RBLX)

FMR LLC lifted its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 89.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,658,528 shares of the company's stock after purchasing an additional 18,715,837 shares during the period. FMR LLC owned about 6.53% of Roblox worth $2,294,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Polymer Capital Management HK LTD purchased a new stake in Roblox during the 4th quarter worth approximately $260,000. Federated Hermes Inc. boosted its stake in shares of Roblox by 33.4% in the fourth quarter. Federated Hermes Inc. now owns 1,073,777 shares of the company's stock worth $62,180,000 after acquiring an additional 268,823 shares during the last quarter. Titleist Asset Management LLC purchased a new stake in shares of Roblox during the fourth quarter worth approximately $252,000. MIG Capital LLC acquired a new position in Roblox in the 4th quarter valued at $331,000. Finally, Russell Investments Group Ltd. lifted its holdings in Roblox by 52.6% in the 4th quarter. Russell Investments Group Ltd. now owns 595,486 shares of the company's stock valued at $34,523,000 after purchasing an additional 205,297 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Trading Up 1.1 %

Shares of NYSE RBLX traded up $0.63 during trading on Friday, reaching $56.75. The stock had a trading volume of 2,507,966 shares, compared to its average volume of 7,843,418. The business's 50-day moving average price is $60.53 and its 200-day moving average price is $56.19. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a market cap of $35.67 billion, a P/E ratio of -38.90 and a beta of 1.49. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

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Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly 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 net margin of 25.97% and a negative return on equity of 665.98%. On average, equities research analysts predict that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $57.99, for a total value of $347,940.00. Following the completion of the transaction, the insider now owns 364,244 shares in the company, valued at approximately $21,122,509.56. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Baszucki sold 229,167 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.48, for a total value of $12,026,684.16. Following the transaction, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at approximately $11,649,667.84. This represents a 50.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,232,833 shares of company stock worth $76,827,466 in the last ninety days. 22.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RBLX has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, January 10th. Morgan Stanley increased their price objective on shares of Roblox from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Oppenheimer raised shares of Roblox from a "market perform" rating to an "outperform" rating and set a $70.00 target price on the stock in a research note on Thursday. Roth Mkm upped their price target on Roblox from $54.00 to $70.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Finally, FBN Securities began coverage on Roblox in a research report on Friday, March 28th. They set a "sector perform" rating and a $65.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.22.

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.