Swedbank AB Acquires 12,005 Shares of Roblox Co. (NYSE:RBLX)

Swedbank AB lifted its holdings in Roblox Co. (NYSE:RBLX) by 22.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 65,302 shares of the company’s stock after acquiring an additional 12,005 shares during the quarter. Swedbank AB’s holdings in Roblox were worth $2,890,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Roblox during the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC raised its holdings in Roblox by 20,800.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after buying an additional 624 shares during the last quarter. PARK CIRCLE Co bought a new stake in Roblox during the 2nd quarter valued at $30,000. Strategic Financial Concepts LLC bought a new stake in Roblox during the 2nd quarter valued at $33,000. Finally, Gilliland Jeter Wealth Management LLC raised its holdings in Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Roblox news, insider Arvind Chakravarthy sold 14,269 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total transaction of $705,316.67. Following the transaction, the insider now owns 244,803 shares in the company, valued at approximately $12,100,612.29. This represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Manuel Bronstein sold 40,739 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $45.00, for a total transaction of $1,833,255.00. Following the transaction, the insider now owns 727,485 shares in the company, valued at $32,736,825. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,013,607 shares of company stock worth $48,434,122 in the last quarter. Corporate insiders own 22.15% of the company’s stock.

Roblox Stock Performance

Shares of Roblox stock opened at $49.37 on Thursday. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of -30.10 and a beta of 1.56. The firm’s 50-day moving average is $46.21 and its 200 day moving average is $41.27. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.45) EPS. Sell-side analysts anticipate that Roblox Co. will post -1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley upgraded shares of Roblox from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $38.00 to $65.00 in a report on Monday, November 4th. Needham & Company LLC upped their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group boosted their price objective on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, BTIG Research boosted their price objective on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.30.

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.