Daiwa Securities Group Inc. Buys 2,927 Shares of Roblox Co. (NYSE:RBLX)

Daiwa Securities Group Inc. boosted its stake in Roblox Co. (NYSE:RBLX) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,239 shares of the company’s stock after acquiring an additional 2,927 shares during the period. Daiwa Securities Group Inc.’s holdings in Roblox were worth $2,445,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBLX. V Square Quantitative Management LLC bought a new stake in shares of Roblox in the 3rd quarter worth approximately $27,000. Frazier Financial Advisors LLC increased its position in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after buying an additional 624 shares during the last quarter. PARK CIRCLE Co bought a new stake in shares of Roblox in the second quarter valued at $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Roblox during the 2nd quarter valued at $33,000. Finally, Gilliland Jeter Wealth Management LLC grew its stake in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on RBLX shares. JPMorgan Chase & Co. upped their price objective on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Piper Sandler raised their price objective on shares of Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. The Goldman Sachs Group boosted their target price on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up from $56.00) on shares of Roblox in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox Stock Up 0.6 %

Shares of NYSE:RBLX opened at $49.37 on Thursday. The firm has a market capitalization of $29.99 billion, a P/E ratio of -30.10 and a beta of 1.56. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50 day moving average price of $46.21 and a 200-day moving average price of $41.27. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $55.10.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.45) earnings per share. As a group, equities research analysts anticipate that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insider Activity at Roblox

In other news, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total value of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. This trade represents a 4.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Manuel Bronstein sold 40,739 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $45.00, for a total transaction of $1,833,255.00. Following the sale, the insider now directly owns 727,485 shares of the company’s stock, valued at $32,736,825. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,013,607 shares of company stock valued at $48,434,122 over the last ninety days. Insiders own 22.15% of the company’s stock.

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.