Nordea Investment Management AB Boosts Stock Position in Roblox Corporation $RBLX

Nordea Investment Management AB raised its stake in Roblox Corporation (NYSE:RBLX) by 17.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 54,457 shares of the company’s stock after acquiring an additional 8,125 shares during the period. Nordea Investment Management AB’s holdings in Roblox were worth $7,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Roblox by 2.6% during the second quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock worth $6,222,993,000 after purchasing an additional 1,513,608 shares during the period. State Street Corp increased its stake in Roblox by 6.3% in the 2nd quarter. State Street Corp now owns 12,043,269 shares of the company’s stock valued at $1,266,952,000 after buying an additional 708,838 shares during the period. Geode Capital Management LLC raised its position in Roblox by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock worth $1,053,257,000 after buying an additional 834,230 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Roblox by 3.0% in the 2nd quarter. AQR Capital Management LLC now owns 9,032,411 shares of the company’s stock worth $948,222,000 after acquiring an additional 261,984 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Roblox by 9.9% in the second quarter. Franklin Resources Inc. now owns 6,344,645 shares of the company’s stock valued at $667,457,000 after acquiring an additional 570,018 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Insider Activity

In other Roblox news, insider Matthew D. Kaufman sold 20,867 shares of Roblox stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $96.10, for a total transaction of $2,005,318.70. Following the completion of the transaction, the insider owned 239,775 shares in the company, valued at approximately $23,042,377.50. The trade was a 8.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony P. Lee sold 66,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $104.07, for a total transaction of $6,868,620.00. Following the completion of the sale, the director directly owned 266,008 shares in the company, valued at $27,683,452.56. This trade represents a 19.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 504,300 shares of company stock worth $46,290,436 in the last three months. Company insiders own 12.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RBLX. Barclays increased their price target on shares of Roblox from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. JPMorgan Chase & Co. downgraded Roblox from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $100.00 in a research note on Friday, December 12th. Citigroup raised their price target on Roblox from $152.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. BTIG Research dropped their price objective on Roblox from $180.00 to $174.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Wolfe Research set a $100.00 price objective on Roblox in a research report on Monday, January 5th. Seventeen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.65.

Roblox Stock Performance

NYSE RBLX opened at $87.27 on Friday. The business has a 50 day moving average price of $88.90 and a 200 day moving average price of $111.90. The company has a market capitalization of $57.15 billion, a P/E ratio of -61.03 and a beta of 1.64. Roblox Corporation has a 1-year low of $50.10 and a 1-year high of $150.59. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.07. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The business’s revenue for the quarter was up 70.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.37) earnings per share. Sell-side analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Roblox Company Profile

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.