Van ECK Associates Corp Acquires 7,071 Shares of Roblox Co. (NYSE:RBLX)

Van ECK Associates Corp boosted its holdings in Roblox Co. (NYSE:RBLX) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,068,460 shares of the company’s stock after buying an additional 7,071 shares during the quarter. Van ECK Associates Corp owned approximately 0.18% of Roblox worth $61,822,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RBLX. ValueAct Holdings L.P. raised its holdings in Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after buying an additional 7,835,921 shares during the last quarter. 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 valued at $926,924,000 after buying an additional 4,115,286 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Roblox during the 3rd quarter valued at approximately $107,491,000. Two Sigma Advisers LP increased its position in Roblox by 32.9% during the 3rd quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock valued at $259,576,000 after purchasing an additional 1,452,900 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Roblox by 195.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,852,131 shares of the company’s stock valued at $81,975,000 after purchasing an additional 1,226,072 shares during the period. Institutional investors own 94.46% of the company’s stock.

Analyst Ratings Changes

RBLX has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Roth Mkm increased their target price on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Citigroup increased their target price on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Macquarie increased their target price on shares of Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $72.00 target price (up previously from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.19.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction on Monday, November 18th. The stock was sold at an average price of $50.71, for a total transaction of $8,451,632.86. Following the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at $6,884,136.05. The trade was a 55.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 6,054 shares of Roblox stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total value of $311,357.22. Following the sale, the chief accounting officer now owns 85,008 shares in the company, valued at $4,371,961.44. The trade was a 6.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,287,014 shares of company stock worth $76,969,089. Corporate insiders own 22.15% of the company’s stock.

Roblox Price Performance

Shares of RBLX opened at $65.56 on Friday. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $75.74. The business’s fifty day moving average is $63.30 and its 200 day moving average is $51.30. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock has a market cap of $39.83 billion, a P/E ratio of -45.21 and a beta of 1.46.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 795.19% and a negative net margin of 25.97%. Sell-side analysts anticipate that Roblox Co. will post -1.4 earnings per share for the current fiscal year.

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.