DNB Asset Management AS Has $28.85 Million Stake in Roblox Corporation $RBLX

DNB Asset Management AS lifted its stake in Roblox Corporation (NYSE:RBLX) by 114.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 208,295 shares of the company’s stock after purchasing 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Roblox by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock valued at $8,648,911,000 after acquiring an additional 3,284,073 shares in the last quarter. State Street Corp raised its stake in Roblox by 6.3% in the second quarter. State Street Corp now owns 12,043,269 shares of the company’s stock valued at $1,266,952,000 after purchasing an additional 708,838 shares in the last quarter. Geode Capital Management LLC lifted its position in Roblox by 9.1% during the second quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock worth $1,053,257,000 after purchasing an additional 834,230 shares during the period. AQR Capital Management LLC grew its stake in Roblox by 3.0% during the second quarter. AQR Capital Management LLC now owns 9,032,411 shares of the company’s stock worth $948,222,000 after buying an additional 261,984 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Roblox by 9.9% during the second quarter. Franklin Resources Inc. now owns 6,344,645 shares of the company’s stock worth $667,457,000 after buying an additional 570,018 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Trading Down 4.1%

Shares of NYSE RBLX opened at $68.46 on Friday. The stock has a market cap of $45.29 billion, a P/E ratio of -44.17 and a beta of 1.63. The firm has a 50 day moving average price of $73.63 and a two-hundred day moving average price of $101.70. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. Roblox Corporation has a 52-week low of $50.10 and a 52-week high of $150.59.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the company earned ($0.33) earnings per share. The firm’s revenue was up 122.6% compared to the same quarter last year. As a group, equities analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on RBLX. Freedom Capital upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of Roblox in a research note on Tuesday, January 20th. Jefferies Financial Group set a $85.00 price objective on shares of Roblox in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a research note on Monday, December 29th. Finally, Benchmark reaffirmed a “hold” rating on shares of Roblox in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.44.

Insider Activity

In related news, CEO David Baszucki sold 272,269 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 811,373 shares of the company’s stock, valued at $58,954,362.18. This represents a 25.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew D. Kaufman sold 30,034 shares of Roblox stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the completion of the sale, the insider directly owned 307,263 shares of the company’s stock, valued at approximately $22,322,656.95. This trade represents a 8.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 769,144 shares of company stock worth $57,789,280. Company insiders own 12.92% of the company’s stock.

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.