Nikko Asset Management Americas Inc. Has $385.70 Million Holdings in Roblox Co. (NYSE:RBLX)

Nikko Asset Management Americas Inc. trimmed its holdings in Roblox Co. (NYSE:RBLX) by 16.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,666,102 shares of the company’s stock after selling 1,306,556 shares during the quarter. Roblox accounts for about 4.2% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 8th biggest holding. Nikko Asset Management Americas Inc. owned approximately 1.10% of Roblox worth $385,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RBLX. Counterpoint Mutual Funds LLC purchased a new stake in Roblox during the fourth quarter valued at about $762,000. Parallel Advisors LLC lifted its stake in shares of Roblox by 39.6% in the 4th quarter. Parallel Advisors LLC now owns 37,285 shares of the company’s stock valued at $2,157,000 after acquiring an additional 10,585 shares during the last quarter. Ninepoint Partners LP purchased a new stake in Roblox during the 4th quarter valued at about $541,000. Poinciana Advisors Group LLC bought a new position in Roblox during the 4th quarter worth approximately $220,000. Finally, Picton Mahoney Asset Management purchased a new position in Roblox in the 4th quarter worth approximately $220,000. Institutional investors own 94.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RBLX shares. JPMorgan Chase & Co. raised their price target on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Piper Sandler reissued an “overweight” rating and issued a $72.00 target price (up from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Wells Fargo & Company upped their price target on Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price objective on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Macquarie raised their price target on Roblox from $71.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and an average target price of $64.19.

Roblox Trading Up 1.4 %

NYSE RBLX opened at $56.51 on Monday. Roblox Co. has a 12 month low of $29.55 and a 12 month high of $75.74. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The stock’s fifty day moving average price is $63.91 and its 200-day moving average price is $54.47. The stock has a market cap of $34.98 billion, a P/E ratio of -38.97 and a beta of 1.49.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, equities analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the sale, the insider now directly owns 278,161 shares in the company, valued at $16,620,119.75. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amy Marie Rawlings sold 5,879 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the transaction, the chief accounting officer now directly owns 75,528 shares of the company’s stock, valued at $4,909,320. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 916,367 shares of company stock worth $59,700,949 in the last three months. Insiders own 22.15% of the company’s stock.

Roblox Company 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.