Roblox Co. (NYSE:RBLX) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of Roblox Co. (NYSE:RBLX) by 418.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 919,906 shares of the company’s stock after purchasing an additional 742,572 shares during the period. Canada Pension Plan Investment Board owned about 0.15% of Roblox worth $53,226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in shares of Roblox by 89.4% in the fourth quarter. FMR LLC now owns 39,658,528 shares of the company’s stock worth $2,294,642,000 after buying an additional 18,715,837 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after purchasing an additional 17,312,325 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Roblox by 1,084.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock worth $278,500,000 after purchasing an additional 4,406,885 shares in the last quarter. Ieq Capital LLC increased its holdings in Roblox by 26.8% in the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after buying an additional 3,507,901 shares during the last quarter. Finally, Norges Bank acquired a new stake in Roblox during the fourth quarter valued at approximately $167,211,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RBLX has been the subject of several research reports. FBN Securities initiated coverage on Roblox in a research report on Friday, March 28th. They issued a “sector perform” rating and a $65.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. OTR Global raised shares of Roblox from a “mixed” rating to a “positive” rating in a report on Monday, February 3rd. Morgan Stanley reduced their price target on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Oppenheimer raised shares of Roblox from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Roblox has an average rating of “Moderate Buy” and an average price target of $64.00.

Insiders Place Their Bets

In other Roblox news, insider Arvind Chakravarthy sold 982 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $61.26, for a total value of $60,157.32. Following the sale, the insider now owns 204,261 shares of the company’s stock, valued at approximately $12,513,028.86. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Baszucki sold 229,167 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.48, for a total value of $12,026,684.16. Following the sale, the chief executive officer now owns 221,983 shares of the company’s stock, valued at approximately $11,649,667.84. This represents a 50.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 926,954 shares of company stock worth $56,936,331 over the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Roblox Trading Up 1.1 %

Shares of Roblox stock opened at $59.76 on Friday. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $75.74. The stock has a market cap of $37.56 billion, a PE ratio of -41.22 and a beta of 1.49. The firm has a 50-day moving average of $59.28 and a 200-day moving average of $56.68. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating 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, sell-side analysts forecast that Roblox Co. will post -1.49 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.