Van ECK Associates Corp Acquires 7,071 Shares of Roblox Co. (NYSE:RBLX)

Van ECK Associates Corp lifted its holdings in shares of Roblox Co. (NYSE:RBLX) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,068,460 shares of the company’s stock after purchasing an additional 7,071 shares during the period. Van ECK Associates Corp’s holdings in Roblox were worth $61,822,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC increased its holdings in Roblox by 4.6% in the 4th quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after acquiring an additional 217 shares during the last quarter. Versant Capital Management Inc increased its holdings in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the last quarter. Impact Partnership Wealth LLC increased its holdings in Roblox by 3.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after acquiring an additional 245 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Roblox by 3.8% in the 4th quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock worth $386,000 after acquiring an additional 245 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Roblox by 29.2% in the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after acquiring an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RBLX. Benchmark lifted their price objective on Roblox from $60.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Piper Sandler reissued an “overweight” rating and set a $72.00 price objective (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.19.

Roblox Trading Up 2.1 %

NYSE RBLX opened at $65.56 on Friday. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The stock has a market cap of $39.83 billion, a P/E ratio of -45.21 and a beta of 1.46. The stock’s fifty day moving average price is $63.30 and its 200-day moving average price is $51.30. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 795.19% and a negative net margin of 25.97%. As a group, equities analysts forecast that Roblox Co. will post -1.4 EPS for the current fiscal year.

Insider Activity

In other news, CFO Michael Guthrie sold 21,657 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total transaction of $1,113,819.51. Following the transaction, the chief financial officer now directly owns 331,187 shares of the company’s stock, valued at $17,032,947.41. This represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 166,666 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.71, for a total value of $8,451,632.86. Following the transaction, the chief executive officer now directly owns 135,755 shares in the company, valued at approximately $6,884,136.05. The trade was a 55.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,287,014 shares of company stock valued at $76,969,089 over the last ninety days. 22.15% of the stock is currently owned by corporate insiders.

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.