Pictet Asset Management SA Buys New Position in Roblox Co. (NYSE:RBLX)

Pictet Asset Management SA purchased a new stake in Roblox Co. (NYSE:RBLXGet Rating) in the second quarter, Holdings Channel reports. The institutional investor purchased 118,635 shares of the company’s stock, valued at approximately $3,898,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Roblox by 39.4% in the 1st quarter. Vanguard Group Inc. now owns 16,084,809 shares of the company’s stock valued at $743,762,000 after acquiring an additional 4,546,253 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Roblox by 88.5% during the second quarter. Baillie Gifford & Co. now owns 14,783,016 shares of the company’s stock valued at $485,770,000 after buying an additional 6,941,347 shares in the last quarter. ARK Investment Management LLC lifted its stake in Roblox by 21.5% during the second quarter. ARK Investment Management LLC now owns 7,405,104 shares of the company’s stock valued at $221,709,000 after buying an additional 1,312,458 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Roblox by 57.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,824,717 shares of the company’s stock valued at $158,540,000 after buying an additional 1,759,384 shares in the last quarter. Finally, Coatue Management LLC lifted its stake in Roblox by 61.7% during the first quarter. Coatue Management LLC now owns 4,792,393 shares of the company’s stock valued at $221,600,000 after buying an additional 1,829,172 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Roblox from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 18th. Wedbush dropped their price objective on Roblox from $36.00 to $33.00 in a report on Wednesday, November 9th. Citigroup increased their price objective on Roblox to $55.00 in a report on Monday, August 22nd. Wolfe Research assumed coverage on Roblox in a report on Tuesday, August 16th. They issued a “market perform” rating on the stock. Finally, MKM Partners dropped their price objective on Roblox from $40.00 to $35.00 in a report on Friday, November 11th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.26.

Insider Activity

In other news, CEO David Baszucki sold 550,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $41.41, for a total value of $22,775,500.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $41.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David Baszucki sold 550,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $41.41, for a total value of $22,775,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $41.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Donato sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $44.38, for a total value of $88,760.00. Following the completion of the transaction, the insider now directly owns 1,172,941 shares of the company’s stock, valued at $52,055,121.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 587,947 shares of company stock valued at $24,433,556. 28.22% of the stock is owned by company insiders.

Roblox Stock Down 2.5 %

RBLX opened at $31.72 on Monday. Roblox Co. has a 1-year low of $21.65 and a 1-year high of $141.60. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $17.43 billion, a price-to-earnings ratio of -24.03 and a beta of 1.87. The business has a 50 day moving average of $39.04 and a 200-day moving average of $37.53.

About Roblox

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Co. (NYSE:RBLXGet Rating).

Institutional Ownership by Quarter for Roblox (NYSE:RBLX)

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