Roblox Co. (NYSE:RBLX) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 949,755 shares of the company's stock after selling 385,121 shares during the quarter. Van ECK Associates Corp owned approximately 0.17% of Roblox worth $43,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Roblox by 29.0% during the third quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company's stock worth $1,291,414,000 after purchasing an additional 10,025,779 shares during the period. Ieq Capital LLC lifted its holdings in Roblox by 158.0% in the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company's stock worth $265,035,000 after buying an additional 5,604,995 shares during the period. Morgan Stanley grew its position in shares of Roblox by 13.7% in the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company's stock worth $1,187,769,000 after buying an additional 4,927,848 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Roblox by 123.5% during the third quarter. Artisan Partners Limited Partnership now owns 3,267,763 shares of the company's stock valued at $94,634,000 after buying an additional 1,805,567 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings 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 valued at $235,897,000 after acquiring an additional 1,368,347 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RBLX. BMO Capital Markets boosted their price objective on shares of Roblox from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, February 8th. Stifel Nicolaus reiterated a "buy" rating and set a $53.00 price target on shares of Roblox in a research report on Monday, April 22nd. Roth Mkm restated a "buy" rating and issued a $55.00 price objective on shares of Roblox in a report on Wednesday. Needham & Company LLC lifted their price objective on Roblox from $51.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, February 8th. Finally, The Goldman Sachs Group raised Roblox from a "sell" rating to a "neutral" rating and increased their target price for the stock from $35.00 to $48.00 in a research 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.60.

Insiders Place Their Bets

In other news, Director Gregory Baszucki sold 13,000 shares of the business's stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total transaction of $456,040.00. Following the completion of the transaction, the director now directly owns 9,747,603 shares of the company's stock, valued at $341,945,913.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, insider Mark Reinstra sold 12,531 shares of the company's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.75, for a total value of $510,638.25. Following the completion of the sale, the insider now owns 249,779 shares in the company, valued at $10,178,494.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, April 24th. The shares were 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 $341,945,913.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 712,374 shares of company stock valued at $29,639,338. 22.15% of the stock is owned by insiders.

Roblox Stock Up 2.9 %

Shares of NYSE RBLX traded up $1.03 during midday trading on Wednesday, hitting $36.59. The stock had a trading volume of 5,857,485 shares, compared to its average volume of 7,425,891. The company has a market cap of $23.11 billion, a P/E ratio of -19.57 and a beta of 1.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. The business's 50 day moving average is $38.28 and its 200-day moving average is $39.18. Roblox Co. has a 52 week low of $24.88 and a 52 week high of $47.20.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.05. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The company's revenue was up 25.3% compared to the same quarter last year. During the same period last year, the business posted ($0.48) EPS. As a group, analysts predict that Roblox Co. will post -2.09 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.