Scotia Capital Inc. Invests $248,000 in Roblox Co. (NYSE:RBLX)

Scotia Capital Inc. purchased a new stake in Roblox Co. (NYSE:RBLX – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,701 shares of the company’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RBLX. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Roblox in the fourth quarter valued at approximately $28,000. 1832 Asset Management L.P. bought a new position in Roblox in the first quarter valued at about $32,000. EWG Elevate Inc. acquired a new stake in Roblox in the fourth quarter worth about $43,000. Allworth Financial LP increased its position in Roblox by 30.6% in the fourth quarter. Allworth Financial LP now owns 1,494 shares of the company’s stock worth $43,000 after purchasing an additional 350 shares during the period. Finally, Salem Investment Counselors Inc. lifted its position in Roblox by 125.4% during the 3rd quarter. Salem Investment Counselors Inc. now owns 1,258 shares of the company’s stock valued at $45,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

Roblox Stock Down 4.9 %

Shares of NYSE RBLX opened at $40.01 on Monday. Roblox Co. has a 52 week low of $23.88 and a 52 week high of $53.88. The stock has a 50 day moving average price of $41.24 and a 200 day moving average price of $36.75. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.15 and a quick ratio of 1.15.

Insider Activity

In related news, CEO David Baszucki sold 550,000 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $38.14, for a total value of $20,977,000.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares in the company, valued at approximately $38.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Roblox news, insider Manuel Bronstein sold 28,722 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $37.85, for a total transaction of $1,087,127.70. Following the transaction, the insider now owns 712,337 shares in the company, valued at approximately $26,961,955.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 550,000 shares of Roblox stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $38.14, for a total transaction of $20,977,000.00. Following the completion of the sale, the chief executive officer now owns 1 shares of the company’s stock, valued at approximately $38.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 642,335 shares of company stock valued at $24,551,648. 27.67% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on RBLX. Credit Suisse Group boosted their price target on shares of Roblox from $37.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, February 16th. Jefferies Financial Group raised their price target on Roblox from $48.00 to $52.00 in a research report on Thursday, April 6th. BTIG Research upped their price objective on Roblox from $55.00 to $60.00 in a report on Wednesday, May 10th. Needham & Company LLC reduced their target price on Roblox from $53.00 to $48.00 in a report on Thursday, May 11th. Finally, Citigroup upped their price target on Roblox from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Seven analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Roblox has a consensus rating of “Hold” and a consensus price target of $39.79.

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.