Swedbank AB Acquires 12,005 Shares of Roblox Co. (NYSE:RBLX)

Swedbank AB lifted its holdings in Roblox Co. (NYSE:RBLX) by 22.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 65,302 shares of the company’s stock after buying an additional 12,005 shares during the period. Swedbank AB’s holdings in Roblox were worth $2,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RBLX. Penserra Capital Management LLC increased its holdings in Roblox by 9.0% in the 3rd quarter. Penserra Capital Management LLC now owns 83,999 shares of the company’s stock worth $3,716,000 after acquiring an additional 6,941 shares in the last quarter. Pitcairn Co. purchased a new stake in Roblox in the 3rd quarter worth approximately $289,000. Algert Global LLC increased its holdings in Roblox by 42.6% in the 3rd quarter. Algert Global LLC now owns 18,906 shares of the company’s stock worth $837,000 after acquiring an additional 5,646 shares in the last quarter. Cerity Partners LLC increased its holdings in Roblox by 434.1% in the 3rd quarter. Cerity Partners LLC now owns 94,973 shares of the company’s stock worth $4,204,000 after acquiring an additional 77,192 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in Roblox by 12.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,270 shares of the company’s stock worth $455,000 after acquiring an additional 1,140 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RBLX shares. Morgan Stanley raised shares of Roblox from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $38.00 to $65.00 in a report on Monday, November 4th. Barclays increased their price objective on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Citigroup increased their price objective on shares of Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC increased their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Stock Up 0.6 %

Shares of RBLX opened at $49.37 on Thursday. The firm has a market capitalization of $29.99 billion, a P/E ratio of -30.10 and a beta of 1.56. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $55.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a fifty day moving average price of $46.21 and a 200-day moving average price of $41.27.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.45) earnings per share. Equities research analysts expect that Roblox Co. will post -1.56 earnings per share for the current year.

Insider Activity

In related news, insider Manuel Bronstein sold 40,739 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $45.00, for a total value of $1,833,255.00. Following the completion of the sale, the insider now directly owns 727,485 shares of the company’s stock, valued at $32,736,825. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Guthrie sold 3,443 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.01, for a total transaction of $154,969.43. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $15,881,508.44. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,013,607 shares of company stock valued at $48,434,122. 22.15% of the stock is currently 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.