SVB Wealth LLC Increases Stake in Roblox Co. (NYSE:RBLX)

SVB Wealth LLC raised its holdings in shares of Roblox Co. (NYSE:RBLX) by 131.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,457 shares of the company’s stock after purchasing an additional 13,899 shares during the quarter. SVB Wealth LLC’s holdings in Roblox were worth $1,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock valued at $1,291,414,000 after purchasing an additional 10,025,779 shares during the period. State Street Corp lifted its holdings in shares of Roblox by 2,473.0% in the second quarter. State Street Corp now owns 6,586,856 shares of the company’s stock worth $216,444,000 after buying an additional 6,330,861 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Roblox by 158.0% in the third quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock valued at $265,035,000 after acquiring an additional 5,604,995 shares during the period. Morgan Stanley grew its stake in Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after acquiring an additional 4,927,848 shares in the last quarter. Finally, Norges Bank bought a new stake in Roblox during the 4th quarter worth approximately $81,174,000. Institutional investors own 91.08% of the company’s stock.

Insider Activity

In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the sale, the chief accounting officer now owns 96,125 shares in the company, valued at approximately $3,906,520. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Gregory Baszucki sold 8,333 shares of Roblox stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $41.17, for a total transaction of $343,069.61. Following the sale, the director now owns 9,786,603 shares of the company’s stock, valued at approximately $402,914,445.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the transaction, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at $3,906,520. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 707,707 shares of company stock valued at $29,526,367. Insiders own 27.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RBLX shares. Roth Mkm boosted their price target on shares of Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. The Goldman Sachs Group upgraded Roblox from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $35.00 to $48.00 in a research report on Thursday, February 8th. Needham & Company LLC raised their price target on Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Barclays raised Roblox from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $46.00 in a report on Thursday, February 8th. Finally, BMO Capital Markets raised their target price on shares of Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Roblox has an average rating of “Moderate Buy” and a consensus target price of $46.25.

Roblox Price Performance

Shares of Roblox stock opened at $35.55 on Friday. The stock has a market capitalization of $21.01 billion, a P/E ratio of -19.01 and a beta of 1.63. Roblox Co. has a one year low of $24.88 and a one year high of $47.20. The company has a debt-to-equity ratio of 14.64, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day simple moving average is $39.51 and its two-hundred day simple moving average is $38.75.

Roblox (NYSE:RBLX) last issued its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.05. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.48) earnings per share. Analysts forecast that Roblox Co. will post -2.1 EPS for the current year.

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.