Geode Capital Management LLC Has $368 Million Stake in Roblox Co. (NYSE:RBLX)

Geode Capital Management LLC grew its stake in Roblox Co. (NYSE:RBLX) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,332,563 shares of the company’s stock after buying an additional 408,915 shares during the quarter. Geode Capital Management LLC’s holdings in Roblox were worth $368,003,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Swedbank AB boosted its stake in Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after purchasing an additional 285 shares during the period. Blue Trust Inc. lifted its holdings in shares of Roblox by 1,836.5% in the second quarter. Blue Trust Inc. now owns 3,931 shares of the company’s stock valued at $150,000 after purchasing an additional 3,728 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Roblox by 44.9% during the second quarter. First Horizon Advisors Inc. now owns 2,593 shares of the company’s stock worth $96,000 after buying an additional 804 shares during the period. SOL Capital Management CO grew its holdings in shares of Roblox by 4.1% during the second quarter. SOL Capital Management CO now owns 87,997 shares of the company’s stock worth $3,274,000 after buying an additional 3,477 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in Roblox in the 2nd quarter valued at approximately $96,000. Institutional investors own 94.46% of the company’s stock.

Insider Transactions at Roblox

In related news, insider Manuel Bronstein sold 44,888 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the transaction, the insider now directly owns 573,266 shares of the company’s stock, valued at approximately $34,401,692.66. This trade represents a 7.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Baszucki sold 333,334 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $57.31, for a total transaction of $19,103,371.54. Following the completion of the sale, the chief executive officer now directly owns 129,295 shares of the company’s stock, valued at $7,409,896.45. This represents a 72.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,457,267 shares of company stock valued at $74,422,648. 22.15% of the stock is currently owned by corporate insiders.

Roblox Stock Down 0.0 %

Roblox stock opened at $59.59 on Friday. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $61.05. The stock has a market cap of $36.20 billion, a P/E ratio of -36.34 and a beta of 1.50. The company’s 50-day moving average price is $48.88 and its two-hundred day moving average price is $43.16. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share 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 analyst estimates of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.45) earnings per share. As a group, analysts expect that Roblox Co. will post -1.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RBLX shares. Wedbush reiterated an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. Canaccord Genuity Group lifted their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Raymond James restated a “strong-buy” rating and set a $60.00 price objective on shares of Roblox in a research note on Friday, November 22nd. Benchmark lifted their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.67.

About Roblox

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.