Norges Bank Purchases New Shares in Roblox Co. (NYSE:RBLX)

Norges Bank acquired a new stake in shares of Roblox Co. (NYSE:RBLX) in the 4th quarter, Holdings Channel reports. The firm acquired 2,889,921 shares of the company’s stock, valued at approximately $167,211,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Roblox by 21.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 34,645 shares of the company’s stock worth $1,533,000 after purchasing an additional 6,077 shares during the period. D.A. Davidson & CO. lifted its position in Roblox by 3.5% in the third quarter. D.A. Davidson & CO. now owns 23,711 shares of the company’s stock worth $1,049,000 after buying an additional 808 shares during the last quarter. Townsquare Capital LLC purchased a new position in Roblox during the third quarter worth $547,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Roblox by 1.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 100,487 shares of the company’s stock valued at $4,448,000 after acquiring an additional 1,546 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Roblox by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,944,555 shares of the company’s stock valued at $86,066,000 after acquiring an additional 20,872 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Trading Down 1.2 %

RBLX opened at $58.36 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The firm has a market cap of $36.13 billion, a price-to-earnings ratio of -40.25 and a beta of 1.49. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The stock has a fifty day moving average price of $63.07 and a 200-day moving average price of $55.65.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, equities research analysts anticipate that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In related news, CAO Amy Marie Rawlings sold 5,879 shares of Roblox stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total value of $382,135.00. Following the completion of the sale, the chief accounting officer now directly owns 75,528 shares in the company, valued at $4,909,320. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony P. Lee sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the transaction, the director now owns 6,254,137 shares in the company, valued at $406,769,070.48. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 926,466 shares of company stock worth $60,212,297 over the last three months. Corporate insiders own 22.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on RBLX shares. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 price target (up from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Citigroup boosted their target price on Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Macquarie increased their price target on Roblox from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Wedbush restated an “outperform” rating and set a $83.00 price objective on shares of Roblox in a report on Friday, February 7th. Finally, CICC Research started coverage on Roblox in a research note on Tuesday, January 14th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.23.

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.