Contrarius Group Holdings Ltd Takes $17.56 Million Position in Roblox Co. (NYSE:RBLX)

Contrarius Group Holdings Ltd acquired a new position in shares of Roblox Co. (NYSE:RBLX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 303,462 shares of the company’s stock, valued at approximately $17,558,000. Roblox accounts for about 1.1% of Contrarius Group Holdings Ltd’s holdings, making the stock its 22nd largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the period. Parkside Financial Bank & Trust lifted 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 period. Rakuten Securities Inc. lifted 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 period. EverSource Wealth Advisors LLC lifted its position in Roblox by 188.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 633 shares during the period. Finally, True Wealth Design LLC lifted its position in Roblox by 33,875.0% in the third quarter. True Wealth Design LLC now owns 1,359 shares of the company’s stock worth $60,000 after purchasing an additional 1,355 shares during the period. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Trading Up 3.9 %

NYSE RBLX opened at $58.17 on Thursday. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The company has a market capitalization of $36.01 billion, a PE ratio of -40.11 and a beta of 1.49. The firm’s fifty day simple moving average is $63.63 and its 200-day simple moving average is $54.68.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, sell-side analysts anticipate that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RBLX has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $71.00 target price on shares of Roblox in a research report on Tuesday. Raymond James restated a “strong-buy” rating and issued a $60.00 target price on shares of Roblox in a research report on Friday, November 22nd. Barclays cut their target price on Roblox from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report 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 report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price objective on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.19.

Insider Transactions at Roblox

In other Roblox news, Director Anthony P. Lee sold 250,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the transaction, the director now directly owns 6,254,137 shares of the company’s stock, valued at $406,769,070.48. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 34,099 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the transaction, the chief executive officer now directly owns 221,983 shares in the company, valued at $12,664,130.15. The trade was a 13.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 950,466 shares of company stock valued at $61,646,297. 22.15% of the stock is owned by insiders.

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.