Rakuten Securities Inc. Takes Position in Roblox Co. (NYSE:RBLX)

Rakuten Securities Inc. purchased a new position in shares of Roblox Co. (NYSE:RBLX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,270 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Roblox by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 788,954 shares of the company’s stock valued at $36,481,000 after buying an additional 39,203 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Roblox by 7.9% in the first quarter. PNC Financial Services Group Inc. now owns 18,574 shares of the company’s stock valued at $860,000 after acquiring an additional 1,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Roblox by 949.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,062 shares of the company’s stock worth $928,000 after acquiring an additional 18,150 shares during the period. BlackRock Inc. raised its holdings in Roblox by 265.4% during the first quarter. BlackRock Inc. now owns 311,209 shares of the company’s stock worth $14,390,000 after purchasing an additional 226,029 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in Roblox by 62.0% during the first quarter. Cibc World Market Inc. now owns 92,495 shares of the company’s stock worth $4,277,000 after purchasing an additional 35,412 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the subject of several recent analyst reports. The Goldman Sachs Group raised Roblox from a “sell” rating to a “neutral” rating and raised their price target for the company from $35.00 to $48.00 in a report on Thursday, February 8th. Barclays upgraded shares of Roblox from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $26.00 to $46.00 in a research report on Thursday, February 8th. Wedbush upped their price target on shares of Roblox from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Benchmark reiterated a “buy” rating and issued a $46.00 price objective on shares of Roblox in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets upped their target price on shares of Roblox from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Roblox has an average rating of “Moderate Buy” and a consensus target price of $46.25.

Roblox Stock Performance

RBLX opened at $36.37 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. The stock’s 50 day moving average price is $39.69 and its two-hundred day moving average price is $38.78. Roblox Co. has a 12-month low of $24.88 and a 12-month high of $47.20.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business posted ($0.48) earnings per share. Roblox’s quarterly revenue was up 25.3% on a year-over-year basis. Sell-side analysts predict that Roblox Co. will post -2.1 earnings per share for the current year.

Insider Activity at Roblox

In related news, Director Gregory Baszucki sold 8,333 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $41.17, for a total transaction of $343,069.61. Following the sale, the director now directly owns 9,786,603 shares in the company, valued at approximately $402,914,445.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the transaction, the chief executive officer now owns 1 shares of the company’s stock, valued at $44.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Baszucki sold 8,333 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $41.17, for a total transaction of $343,069.61. Following the transaction, the director now owns 9,786,603 shares in the company, valued at $402,914,445.51. The disclosure for this sale can be found here. Insiders sold 703,707 shares of company stock valued at $29,379,607 in the last ninety days. Insiders own 27.67% of the company’s stock.

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.