Bank of Nova Scotia Invests $249,000 in Roblox Co. (NYSE:RBLX)

Bank of Nova Scotia bought a new position in shares of Roblox Co. (NYSE:RBLXGet Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,577 shares of the company’s stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Kistler Tiffany Companies LLC boosted its stake in Roblox by 9,280.0% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,407 shares of the company’s stock valued at $46,000 after purchasing an additional 1,392 shares during the period. Prospera Financial Services Inc boosted its stake in Roblox by 47.4% in the 2nd quarter. Prospera Financial Services Inc now owns 4,230 shares of the company’s stock valued at $139,000 after purchasing an additional 1,360 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Roblox by 94.3% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 283,768 shares of the company’s stock valued at $9,323,000 after purchasing an additional 137,691 shares during the period. Baillie Gifford & Co. boosted its stake in Roblox by 88.5% in the 2nd quarter. Baillie Gifford & Co. now owns 14,783,016 shares of the company’s stock valued at $485,770,000 after purchasing an additional 6,941,347 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new stake in Roblox in the 2nd quarter valued at $15,338,000. 69.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Roblox

In other Roblox news, insider Manuel Bronstein sold 2,612 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $45.00, for a total value of $117,540.00. Following the sale, the insider now owns 773,208 shares in the company, valued at approximately $34,794,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Craig Donato sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $37.31, for a total transaction of $74,620.00. Following the sale, the insider now owns 1,168,941 shares in the company, valued at approximately $43,613,188.71. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Manuel Bronstein sold 2,612 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $45.00, for a total value of $117,540.00. Following the sale, the insider now owns 773,208 shares in the company, valued at approximately $34,794,360. The disclosure for this sale can be found here. In the last quarter, insiders have sold 587,947 shares of company stock worth $24,433,556. Insiders own 28.22% of the company’s stock.

Roblox Price Performance

Shares of RBLX opened at $31.72 on Monday. Roblox Co. has a 12-month low of $21.65 and a 12-month high of $141.60. The business has a 50-day simple moving average of $39.04 and a two-hundred day simple moving average of $37.53. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.33. The stock has a market cap of $17.43 billion, a PE ratio of -24.03 and a beta of 1.87.

Wall Street Analysts Forecast Growth

RBLX has been the subject of several recent research reports. Stifel Nicolaus reduced their price target on Roblox from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, October 18th. BTIG Research reduced their price target on Roblox from $58.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, October 13th. Wolfe Research initiated coverage on Roblox in a report on Tuesday, August 16th. They issued a “market perform” rating for the company. Needham & Company LLC dropped their price objective on Roblox from $53.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Finally, Cowen initiated coverage on Roblox in a report on Monday, September 12th. They issued an “underperform” rating and a $31.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.26.

Roblox Company Profile

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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.

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Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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