Korea Investment CORP Boosts Stock Holdings in Roblox Co. (NYSE:RBLX)

Korea Investment CORP increased its holdings in shares of Roblox Co. (NYSE:RBLX) by 372.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 312,006 shares of the company’s stock after purchasing an additional 245,982 shares during the period. Korea Investment CORP owned 0.05% of Roblox worth $18,053,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RBLX. Quest Partners LLC bought a new stake in Roblox during the third quarter valued at about $103,000. Cerity Partners LLC boosted its holdings in shares of Roblox by 434.1% in the 3rd quarter. Cerity Partners LLC now owns 94,973 shares of the company’s stock valued at $4,204,000 after buying an additional 77,192 shares in the last quarter. Algert Global LLC grew its position in shares of Roblox by 42.6% in the 3rd quarter. Algert Global LLC now owns 18,906 shares of the company’s stock worth $837,000 after buying an additional 5,646 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Roblox by 21.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 34,645 shares of the company’s stock worth $1,533,000 after acquiring an additional 6,077 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in Roblox by 3.5% during the third quarter. D.A. Davidson & CO. now owns 23,711 shares of the company’s stock valued at $1,049,000 after acquiring an additional 808 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RBLX has been the topic of several analyst reports. HSBC began coverage on shares of Roblox in a report on Thursday, December 12th. They issued a “buy” rating and a $63.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $83.00 target price on shares of Roblox in a research report on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $71.00 price target on shares of Roblox in a report on Tuesday, March 18th. OTR Global upgraded shares of Roblox from a “mixed” rating to a “positive” rating in a report on Monday, February 3rd. Finally, FBN Securities began coverage on shares of Roblox in a research report on Friday. They issued a “sector perform” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.23.

Insider Buying and Selling

In other Roblox news, insider Mark Reinstra sold 50,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $64.98, for a total transaction of $3,249,000.00. Following the transaction, the insider now directly owns 281,161 shares of the company’s stock, valued at $18,269,841.78. This trade represents a 15.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Baszucki sold 34,099 shares of Roblox stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the completion of the sale, the chief executive officer now owns 221,983 shares in the company, valued at approximately $12,664,130.15. This trade represents a 13.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 926,466 shares of company stock valued at $60,212,297. 22.15% of the stock is owned by company insiders.

Roblox Price Performance

NYSE:RBLX opened at $58.99 on Friday. The company has a 50 day moving average price of $63.22 and a 200-day moving average price of $55.48. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $75.74. The firm has a market cap of $36.51 billion, a price-to-earnings ratio of -40.68 and a beta of 1.49. 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 (NYSE:RBLX) last released its quarterly earnings data 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%. Equities research analysts forecast that Roblox Co. will post -1.49 EPS 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.