OVERSEA CHINESE BANKING Corp Ltd Takes Position in Roblox Co. (NYSE:RBLX)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Roblox Co. (NYSE:RBLX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,162 shares of the company’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after acquiring an additional 10,025,779 shares in the last quarter. Ieq Capital LLC increased its position in shares of Roblox by 158.0% during the third quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock worth $265,035,000 after purchasing an additional 5,604,995 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Roblox by 13.7% in the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after purchasing an additional 4,927,848 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Roblox by 28.5% in the 3rd quarter. ARK Investment Management LLC now owns 11,973,881 shares of the company’s stock valued at $346,764,000 after purchasing an additional 2,655,333 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of Roblox by 123.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,267,763 shares of the company’s stock valued at $94,634,000 after purchasing an additional 1,805,567 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RBLX shares. Roth Mkm boosted their price objective on Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Needham & Company LLC upped their price target on shares of Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Barclays raised shares of Roblox from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $46.00 in a research report on Thursday, February 8th. Wedbush upped their target price on shares of Roblox from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Finally, BMO Capital Markets raised their price target on Roblox from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.85.

Roblox Price Performance

RBLX stock opened at $34.96 on Tuesday. The firm has a 50 day moving average of $39.15 and a 200-day moving average of $38.97. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. Roblox Co. has a 12-month low of $24.88 and a 12-month high of $47.20.

Roblox (NYSE:RBLX) last posted its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned ($0.48) earnings per share. Roblox’s quarterly revenue was up 25.3% compared to the same quarter last year. As a group, research analysts expect that Roblox Co. will post -2.1 EPS for the current year.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of Roblox stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the transaction, the chief accounting officer now owns 96,125 shares in the company, valued at $3,906,520. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO David Baszucki sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the sale, the chief executive officer now owns 1 shares in the company, valued at $44.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the transaction, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at $3,906,520. The disclosure for this sale can be found here. In the last three months, insiders have sold 707,707 shares of company stock valued at $29,526,367. Insiders own 22.15% of the company’s stock.

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.