Vestcor Inc Increases Stock Position in Roblox Co. (NYSE:RBLX)

Vestcor Inc increased its position in Roblox Co. (NYSE:RBLX) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,711 shares of the company’s stock after acquiring an additional 1,394 shares during the period. Vestcor Inc’s holdings in Roblox were worth $562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Roblox by 24.5% in the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the last quarter. Wealthfront Advisers LLC grew its position in Roblox by 74,400.8% in the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after purchasing an additional 17,312,325 shares during the period. Ieq Capital LLC grew its position in Roblox by 26.8% in the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after purchasing an additional 3,507,901 shares during the period. State Street Corp grew its position in Roblox by 2.3% in the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after purchasing an additional 240,565 shares during the period. Finally, ValueAct Holdings L.P. grew its position in 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 purchasing an additional 7,835,921 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Up 1.4 %

Shares of RBLX stock opened at $56.51 on Monday. The stock has a market cap of $34.98 billion, a P/E ratio of -38.97 and a beta of 1.49. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company’s fifty day simple moving average is $63.91 and its two-hundred day simple moving average is $54.47.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RBLX shares. Morgan Stanley lifted their target price on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Benchmark lifted their target price on shares of Roblox from $60.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. CICC Research assumed coverage on shares of Roblox in a research report on Tuesday, January 14th. They set an “outperform” rating for the company. Finally, HSBC assumed coverage on shares of Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $64.19.

Insider Activity

In other news, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the sale, the insider now directly owns 278,161 shares in the company, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 5,879 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the sale, the chief accounting officer now owns 75,528 shares in the company, valued at $4,909,320. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 916,367 shares of company stock worth $59,700,949. 22.15% of the stock is currently owned by corporate 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.