Norges Bank Makes New $167.21 Million Investment in Roblox Co. (NYSE:RBLX)

Norges Bank acquired a new stake in shares of Roblox Co. (NYSE:RBLX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,889,921 shares of the company’s stock, valued at approximately $167,211,000. Norges Bank owned about 0.48% of Roblox at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after buying an additional 195 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Roblox by 188.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock valued at $56,000 after buying an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Roblox by 29.2% in the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after acquiring an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RBLX. Macquarie increased their target price on shares of Roblox from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Benchmark reaffirmed a “buy” rating and issued a $71.00 price target on shares of Roblox in a research note on Tuesday, March 18th. OTR Global raised shares of Roblox from a “mixed” rating to a “positive” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their price target on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average target price of $64.23.

Roblox Stock Down 1.2 %

Shares of RBLX stock opened at $58.36 on Tuesday. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. Roblox Co. has a one year low of $29.55 and a one year high of $75.74. The company’s fifty day moving average price is $63.07 and its 200-day moving average price is $55.65. The company has a market capitalization of $36.13 billion, a price-to-earnings ratio of -40.25 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. Sell-side analysts expect that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In related news, Director Anthony P. Lee sold 250,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 6,254,137 shares of the company’s stock, valued at approximately $406,769,070.48. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Reinstra sold 50,000 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $64.98, for a total transaction of $3,249,000.00. Following the completion of the sale, the insider now owns 281,161 shares in the company, valued at approximately $18,269,841.78. The trade was a 15.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 926,466 shares of company stock valued at $60,212,297. 22.15% of the stock is owned by company insiders.

Roblox Company Profile

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.