DNB Asset Management AS Purchases 110,974 Shares of Roblox Corporation $RBLX

DNB Asset Management AS raised its holdings in shares of Roblox Corporation (NYSE:RBLX) by 114.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 208,295 shares of the company’s stock after acquiring an additional 110,974 shares during the quarter. DNB Asset Management AS’s holdings in Roblox were worth $28,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBLX. Pilgrim Partners Asia Pte Ltd bought a new position in Roblox in the third quarter valued at $26,000. Total Investment Management Inc. bought a new stake in Roblox during the 2nd quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Roblox during the 3rd quarter worth about $37,000. Root Financial Partners LLC bought a new position in shares of Roblox in the 3rd quarter valued at about $38,000. Finally, Salomon & Ludwin LLC bought a new position in shares of Roblox in the 3rd quarter valued at about $41,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Roblox

In other Roblox news, insider Matthew D. Kaufman sold 30,034 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $72.65, for a total value of $2,181,970.10. Following the transaction, the insider directly owned 307,263 shares of the company’s stock, valued at $22,322,656.95. This represents a 8.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Arvind Chakravarthy sold 40,646 shares of Roblox stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total value of $2,732,630.58. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 769,144 shares of company stock worth $57,789,280. 12.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RBLX has been the topic of several analyst reports. Wells Fargo & Company set a $97.00 target price on Roblox in a report on Monday, February 9th. Piper Sandler reissued an “overweight” rating and issued a $100.00 price objective (down from $125.00) on shares of Roblox in a report on Friday, February 6th. Barclays decreased their target price on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Wall Street Zen lowered shares of Roblox from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, The Goldman Sachs Group cut their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.44.

Roblox Trading Down 4.1%

Shares of Roblox stock opened at $68.46 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day simple moving average of $73.63 and a two-hundred day simple moving average of $101.70. Roblox Corporation has a 1 year low of $50.10 and a 1 year high of $150.59. The company has a market capitalization of $45.29 billion, a price-to-earnings ratio of -44.17 and a beta of 1.63.

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

Roblox Profile

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.