K.J. Harrison & Partners Inc Buys New Stake in Roblox Co. (NYSE:RBLX)

K.J. Harrison & Partners Inc purchased a new position in shares of Roblox Co. (NYSE:RBLX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,017 shares of the company's stock, valued at approximately $2,058,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Roblox by 29.0% in the third 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. Morgan Stanley grew its stake in shares of Roblox by 13.7% in the third quarter. Morgan Stanley now owns 41,014,115 shares of the company's stock worth $1,187,769,000 after acquiring an additional 4,927,848 shares in the last quarter. Ieq Capital LLC increased its position in shares of Roblox by 158.0% during the third quarter. Ieq Capital LLC now owns 9,151,748 shares of the company's stock worth $265,035,000 after acquiring an additional 5,604,995 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Roblox by 20.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,145,602 shares of the company's stock worth $235,897,000 after acquiring an additional 1,368,347 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of Roblox by 123.5% in the third quarter. Artisan Partners Limited Partnership now owns 3,267,763 shares of the company's stock valued at $94,634,000 after acquiring an additional 1,805,567 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Performance

Shares of RBLX stock traded up $0.45 during trading hours on Friday, hitting $35.98. The stock had a trading volume of 3,745,453 shares, compared to its average volume of 7,516,952. The stock's 50 day moving average is $38.53 and its 200 day moving average is $39.00. The firm has a market capitalization of $21.27 billion, a PE ratio of -19.24 and a beta of 1.63. Roblox Co. has a twelve month low of $24.88 and a twelve month 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.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.05. The firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. Roblox's quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.48) EPS. As a group, research analysts forecast that Roblox Co. will post -2.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $35.08, for a total value of $456,040.00. Following the transaction, the director now directly owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael Guthrie sold 10,972 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $445,902.08. Following the completion of the transaction, the chief financial officer now directly owns 233,629 shares of the company's stock, valued at $9,494,682.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total value of $456,040.00. Following the completion of the sale, the director now directly owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The disclosure for this sale can be found here. Insiders have sold a total of 712,374 shares of company stock valued at $29,639,338 over the last quarter. 22.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised Roblox from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $41.00 to $48.00 in a research note on Tuesday. BMO Capital Markets upped their target price on shares of Roblox from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Thursday, February 8th. Needham & Company LLC lifted their price target on shares of Roblox from $51.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, February 8th. Stifel Nicolaus reissued a "buy" rating and issued a $53.00 price objective on shares of Roblox in a research report on Monday. Finally, Roth Mkm raised their price objective on shares of Roblox from $50.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $47.60.

Roblox 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.

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