Swiss National Bank Cuts Stock Holdings in Roblox Co. (NYSE:RBLX)

Swiss National Bank lessened its holdings in Roblox Co. (NYSE:RBLX) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,352,600 shares of the company’s stock after selling 51,300 shares during the quarter. Swiss National Bank’s holdings in Roblox were worth $78,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of RBLX. Toronto Dominion Bank grew its holdings in Roblox by 34.3% during the third quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock worth $2,660,000 after acquiring an additional 15,333 shares during the period. Smith Group Asset Management LLC grew its stake in shares of Roblox by 939.6% during the 4th quarter. Smith Group Asset Management LLC now owns 69,030 shares of the company’s stock worth $3,994,000 after purchasing an additional 62,390 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Roblox in the fourth quarter valued at about $363,000. Silicon Valley Capital Partners boosted its holdings in Roblox by 3,010.0% during the fourth quarter. Silicon Valley Capital Partners now owns 69,104 shares of the company’s stock worth $3,998,000 after buying an additional 66,882 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in Roblox by 320.0% during the fourth quarter. V Square Quantitative Management LLC now owns 2,587 shares of the company’s stock worth $149,000 after buying an additional 1,971 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBLX has been the subject of a number of research reports. OTR Global upgraded shares of Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. Morgan Stanley upped their target price on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 price target (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Needham & Company LLC increased their price objective on shares of Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Roblox from $55.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.19.

Insider Activity at Roblox

In other news, insider Manuel Bronstein sold 14,721 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $61.10, for a total value of $899,453.10. Following the transaction, the insider now owns 598,929 shares of the company’s stock, valued at approximately $36,594,561.90. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at approximately $16,620,119.75. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 916,367 shares of company stock worth $59,700,949. 22.15% of the stock is owned by insiders.

Roblox Trading Up 1.4 %

NYSE RBLX opened at $56.51 on Friday. The company has a 50-day moving average of $63.91 and a 200-day moving average of $54.33. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The company has a market cap of $34.98 billion, a P/E ratio of -38.97 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, equities analysts predict that Roblox Co. will post -1.49 earnings per share for the current year.

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.