Swiss National Bank Trims Stake in Roblox Co. (NYSE:RBLX)

Swiss National Bank cut its holdings in shares of Roblox Co. (NYSE:RBLX) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,352,600 shares of the company’s stock after selling 51,300 shares during the quarter. Swiss National Bank owned about 0.22% of Roblox worth $78,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealthfront Advisers LLC boosted its stake in Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after buying an additional 17,312,325 shares during the period. ValueAct Holdings L.P. lifted its holdings in shares of Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after acquiring an additional 7,835,921 shares during the last quarter. FMR LLC boosted its position in shares of Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after purchasing an additional 4,115,286 shares during the period. Ieq Capital LLC increased its holdings in Roblox by 26.8% in the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after purchasing an additional 3,507,901 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in Roblox in the third quarter valued at approximately $107,491,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Price Performance

Shares of RBLX opened at $56.51 on Friday. The firm has a fifty day moving average price of $63.91 and a 200 day moving average price of $54.33. The stock has a market cap of $34.98 billion, a PE ratio of -38.97 and a beta of 1.49. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74. 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 (NYSE:RBLX) last announced its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (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%. As a group, sell-side analysts anticipate that Roblox Co. will post -1.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RBLX. Moffett Nathanson lowered Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target for the company. in a research report on Friday, February 7th. Wells Fargo & Company raised their target price on Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wedbush reiterated an “outperform” rating and set a $83.00 price target on shares of Roblox in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, HSBC assumed coverage on shares of Roblox in a research note on Thursday, December 12th. They set a “buy” rating and a $63.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average price target of $64.19.

Insider Activity

In other news, Director Anthony P. Lee sold 250,000 shares of the stock in a transaction dated 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 sale, the director now owns 6,254,137 shares in the company, valued at approximately $406,769,070.48. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Arvind Chakravarthy sold 982 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $61.26, for a total value of $60,157.32. Following the completion of the transaction, the insider now owns 204,261 shares in the company, valued at $12,513,028.86. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 916,367 shares of company stock valued at $59,700,949. 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.