Bank of Nova Scotia Raises Holdings in Roblox Corporation $RBLX

Bank of Nova Scotia increased its holdings in Roblox Corporation (NYSE:RBLX) by 88.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,236,715 shares of the company’s stock after purchasing an additional 582,162 shares during the quarter. Bank of Nova Scotia’s holdings in Roblox were worth $171,310,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. National Pension Service raised its holdings in Roblox by 7.3% in the third quarter. National Pension Service now owns 1,697,820 shares of the company’s stock worth $235,182,000 after purchasing an additional 115,096 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Roblox by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock valued at $6,222,993,000 after buying an additional 1,513,608 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Roblox by 298.4% in the 3rd quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock worth $45,617,000 after buying an additional 246,652 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Roblox in the 2nd quarter worth approximately $120,041,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Roblox during the 3rd quarter worth approximately $2,895,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 272,269 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $72.66, for a total transaction of $19,783,065.54. Following the completion of the transaction, the chief executive officer directly owned 811,373 shares of the company’s stock, valued at approximately $58,954,362.18. This trade represents a 25.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anthony P. Lee sold 59,000 shares of Roblox stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $79.96, for a total transaction of $4,717,640.00. Following the sale, the director owned 257,258 shares of the company’s stock, valued at approximately $20,570,349.68. The trade was a 18.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 703,144 shares of company stock worth $51,681,640 in the last quarter. 12.92% of the stock is currently owned by corporate insiders.

Roblox Stock Up 0.2%

Roblox stock opened at $56.42 on Friday. The business’s 50-day simple moving average is $69.85 and its two-hundred day simple moving average is $97.43. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $37.33 billion, a PE ratio of -36.40 and a beta of 1.62. Roblox Corporation has a fifty-two week low of $50.10 and a fifty-two week high of $150.59.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RBLX. Jefferies Financial Group set a $85.00 target price on shares of Roblox in a research report on Thursday, January 15th. B. Riley Financial assumed coverage on Roblox in a research note on Tuesday, December 9th. They set a “buy” rating and a $125.00 price target on the stock. Wells Fargo & Company set a $97.00 price objective on shares of Roblox in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of Roblox in a research note on Tuesday, January 20th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Roblox in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.