Bank of Nova Scotia Grows Stock Holdings in Roblox Corporation $RBLX

Bank of Nova Scotia raised its holdings in shares of Roblox Corporation (NYSE:RBLX) by 88.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,236,715 shares of the company’s stock after purchasing an additional 582,162 shares during the quarter. Bank of Nova Scotia owned 0.19% of Roblox worth $171,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Roblox during the 3rd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Roblox in the third quarter worth about $37,000. Total Investment Management Inc. bought a new stake in Roblox during the second quarter worth approximately $29,000. Root Financial Partners LLC bought a new stake in Roblox during the third quarter worth approximately $38,000. Finally, Salomon & Ludwin LLC purchased a new stake in Roblox during the third quarter valued at approximately $41,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 10,834 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $61.63, for a total transaction of $667,699.42. Following the transaction, the chief executive officer owned 800,539 shares of the company’s stock, valued at approximately $49,337,218.57. This represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony P. Lee sold 7,000 shares of Roblox stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total value of $577,150.00. Following the completion of the sale, the director owned 256,768 shares of the company’s stock, valued at $21,170,521.60. The trade was a 2.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is owned by company insiders.

Roblox Trading Up 0.2%

RBLX opened at $56.42 on Friday. The stock has a market cap of $37.33 billion, a price-to-earnings ratio of -36.40 and a beta of 1.62. The stock’s 50 day moving average price is $69.85 and its 200-day moving average price is $97.43. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The business’s revenue was up 122.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) earnings per share. On average, equities analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Monday, December 29th. Wedbush restated an “outperform” rating and set a $110.00 price target on shares of Roblox in a report on Friday, February 6th. Morgan Stanley lowered their price target on Roblox from $155.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. The Goldman Sachs Group dropped their price objective on shares of Roblox from $180.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Finally, Citigroup cut their price objective on shares of Roblox from $152.00 to $119.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average price target of $117.35.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.