KLP Kapitalforvaltning AS Boosts Stock Holdings in Roblox Corporation (NYSE:RBLX)

KLP Kapitalforvaltning AS lifted its position in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,300 shares of the company's stock after purchasing an additional 5,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Roblox were worth $9,694,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RBLX. FMR LLC grew its stake in Roblox by 89.4% in the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after buying an additional 18,715,837 shares during the last quarter. Geode Capital Management LLC grew its stake in Roblox by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company's stock valued at $495,564,000 after buying an additional 246,610 shares during the last quarter. Renaissance Technologies LLC grew its stake in Roblox by 24.3% in the 4th quarter. Renaissance Technologies LLC now owns 7,570,959 shares of the company's stock valued at $438,056,000 after buying an additional 1,478,421 shares during the last quarter. Two Sigma Advisers LP grew its stake in Roblox by 23.7% in the 4th quarter. Two Sigma Advisers LP now owns 7,256,600 shares of the company's stock valued at $419,867,000 after buying an additional 1,391,800 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Roblox by 1,084.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock valued at $278,500,000 after buying an additional 4,406,885 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RBLX. Benchmark upped their price target on shares of Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley cut their price objective on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. BMO Capital Markets boosted their price objective on shares of Roblox from $95.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday. Roth Mkm boosted their price objective on shares of Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Roblox currently has a consensus rating of "Moderate Buy" and an average price target of $95.95.

Roblox Trading Up 0.6%

Shares of RBLX traded up $0.67 during trading hours on Friday, hitting $118.79. 5,550,984 shares of the stock were exchanged, compared to its average volume of 8,101,534. Roblox Corporation has a fifty-two week low of $35.30 and a fifty-two week high of $127.99. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $100.68 and a 200-day moving average of $76.37. The firm has a market capitalization of $80.57 billion, a P/E ratio of -88.65 and a beta of 1.60.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned ($0.43) earnings per share. The business's quarterly revenue was up 30.6% compared to the same quarter last year. On average, research analysts expect that Roblox Corporation will post -1.49 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 1,375,002 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the transaction, the chief executive officer directly owned 221,983 shares of the company's stock, valued at approximately $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 6,651,690 shares of company stock valued at $593,440,562 over the last 90 days. 12.92% of the stock is currently owned by company insiders.

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.