Royal London Asset Management Ltd. Boosts Stock Position in Roblox Co. (NYSE:RBLX)

Royal London Asset Management Ltd. boosted its holdings in Roblox Co. (NYSE:RBLX) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,130 shares of the company’s stock after purchasing an additional 11,692 shares during the period. Royal London Asset Management Ltd.’s holdings in Roblox were worth $12,852,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its position in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Rakuten Securities Inc. boosted its position in Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Roblox by 188.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock valued at $56,000 after buying an additional 633 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Roblox by 29.2% in the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $69,000 after buying an additional 271 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the topic of several research reports. Citigroup boosted their target price on Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group boosted their target price on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Piper Sandler restated an “overweight” rating and issued a $72.00 target price (up from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Benchmark restated a “buy” rating and issued a $71.00 target price on shares of Roblox in a research note on Tuesday, March 18th. Finally, HSBC started coverage on Roblox in a research note on Thursday, December 12th. They issued a “buy” rating and a $63.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average target price of $64.19.

Insider Transactions at Roblox

In other news, CFO Michael Guthrie sold 26,154 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total value of $1,724,594.76. Following the completion of the transaction, the chief financial officer now directly owns 417,079 shares in the company, valued at approximately $27,502,189.26. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the transaction, the insider now owns 278,161 shares of the company’s stock, valued at $16,620,119.75. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 950,466 shares of company stock worth $61,646,297. 22.15% of the stock is currently owned by corporate insiders.

Roblox Price Performance

Roblox stock opened at $61.21 on Friday. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74. The business has a 50-day simple moving average of $63.54 and a 200 day simple moving average of $54.90. 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 stock has a market cap of $37.89 billion, a price-to-earnings ratio of -42.21 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its 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 return on equity of 665.98% and a negative net margin of 25.97%. On average, research analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

About Roblox

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.