4,728,657 Shares in Roblox Co. (NYSE:RBLX) Acquired by Norges Bank

Norges Bank bought a new position in Roblox Co. (NYSE:RBLX) during the 4th quarter, Holdings Channel reports. The institutional investor bought 4,728,657 shares of the company’s stock, valued at approximately $216,194,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in shares of Roblox by 7.8% in the 4th quarter. Global Retirement Partners LLC now owns 4,423 shares of the company’s stock worth $202,000 after buying an additional 320 shares during the last quarter. Signaturefd LLC lifted its position in shares of Roblox by 9.3% in the 3rd quarter. Signaturefd LLC now owns 4,119 shares of the company’s stock worth $119,000 after purchasing an additional 352 shares during the period. Sepio Capital LP lifted its position in shares of Roblox by 3.0% in the 3rd quarter. Sepio Capital LP now owns 12,918 shares of the company’s stock worth $374,000 after purchasing an additional 382 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Roblox by 0.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,996 shares of the company’s stock worth $4,297,000 after purchasing an additional 458 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Roblox in the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

RBLX has been the subject of several recent analyst reports. Moffett Nathanson upgraded shares of Roblox from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $26.00 in a research note on Friday, May 10th. Wedbush cut their price target on shares of Roblox from $56.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. The Goldman Sachs Group cut their price target on shares of Roblox from $48.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. BTIG Research cut their price target on shares of Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Piper Sandler restated an “overweight” rating and set a $40.00 price target (down previously from $56.00) on shares of Roblox in a research note on Friday, May 10th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.76.

Roblox Price Performance

Shares of RBLX stock opened at $33.13 on Thursday. The stock has a 50 day moving average of $36.39 and a 200-day moving average of $39.47. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. Roblox Co. has a 12 month low of $24.88 and a 12 month high of $47.20.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The company had revenue of $923.76 million for the quarter, compared to analysts’ expectations of $918.85 million. During the same quarter in the prior year, the business earned ($0.44) earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. Research analysts predict that Roblox Co. will post -1.7 EPS for the current year.

Insider Buying and Selling

In other news, insider Mark Reinstra sold 4,000 shares of Roblox stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $36.50, for a total transaction of $146,000.00. Following the completion of the transaction, the insider now directly owns 359,453 shares in the company, valued at approximately $13,120,034.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Mark Reinstra sold 4,000 shares of Roblox stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $36.50, for a total transaction of $146,000.00. Following the completion of the transaction, the insider now directly owns 359,453 shares in the company, valued at approximately $13,120,034.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $40.68, for a total value of $1,220,400.00. Following the sale, the chief financial officer now directly owns 396,709 shares of the company’s stock, valued at $16,138,122.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 344,293 shares of company stock worth $12,738,558. 22.15% of the stock is owned by corporate insiders.

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.