KLP Kapitalforvaltning AS Takes Position in Roblox Co. (NYSE:RBLX)

KLP Kapitalforvaltning AS purchased a new position in shares of Roblox Co. (NYSE:RBLX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 160,900 shares of the company’s stock, valued at approximately $9,310,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RBLX. Versant Capital Management Inc increased its holdings in shares of 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 increased 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 valued at $43,000 after purchasing an additional 230 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after purchasing an additional 195 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Roblox by 188.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after buying an additional 633 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of Roblox by 33,875.0% during the 3rd quarter. True Wealth Design LLC now owns 1,359 shares of the company’s stock worth $60,000 after buying an additional 1,355 shares during the period. Institutional investors own 94.46% of the company’s stock.

Analysts Set New Price Targets

RBLX has been the subject of several research reports. Barclays cut their price objective on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Morgan Stanley lifted their price target on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Roth Mkm upped their price objective on Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. CICC Research initiated coverage on Roblox in a report on Tuesday, January 14th. They set an “outperform” rating for the company. Finally, Citigroup upped their price target on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.19.

Roblox Trading Up 0.1 %

Shares of Roblox stock opened at $61.23 on Tuesday. The firm’s 50 day moving average is $63.54 and its 200 day moving average is $55.11. The firm has a market capitalization of $37.90 billion, a PE ratio of -42.22 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 current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share 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%. Equities research analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 34,099 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $57.05, for a total value of $1,945,347.95. Following the completion of the transaction, the chief executive officer now owns 221,983 shares of the company’s stock, valued at $12,664,130.15. This represents a 13.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Guthrie sold 50,000 shares of Roblox stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $60.14, for a total transaction of $3,007,000.00. Following the sale, the chief financial officer now owns 395,465 shares in the company, valued at approximately $23,783,265.10. This represents a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 926,466 shares of company stock valued at $60,212,297 in the last 90 days. Corporate insiders own 22.15% of the company’s stock.

Roblox 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.