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

Nikko Asset Management Americas Inc. cut its holdings in Roblox Co. (NYSE:RBLX) by 16.4% during the 4th quarter, Holdings Channel reports. The fund owned 6,666,102 shares of the company’s stock after selling 1,306,556 shares during the period. Roblox comprises 4.2% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 8th biggest holding. Nikko Asset Management Americas Inc.’s holdings in Roblox were worth $385,701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC grew its stake in shares of Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after acquiring an additional 4,115,286 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after purchasing an additional 17,312,325 shares during the period. Ieq Capital LLC boosted its position in shares of Roblox by 26.8% in the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after purchasing an additional 3,507,901 shares during the period. State Street Corp increased its stake in shares of Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after purchasing an additional 240,565 shares in the last quarter. Finally, ValueAct Holdings L.P. raised its position in shares of Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after purchasing an additional 7,835,921 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RBLX. Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a research note on Friday, November 22nd. Wedbush reissued an “outperform” rating and set a $83.00 target price on shares of Roblox in a research note on Friday, February 7th. Moffett Nathanson cut Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a report on Friday, February 7th. Morgan Stanley increased their price objective on shares of Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.19.

Insider Buying and Selling

In other news, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 278,161 shares in the company, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anthony P. Lee sold 250,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the completion of the transaction, the director now directly owns 6,254,137 shares in the company, valued at $406,769,070.48. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 916,367 shares of company stock valued at $59,700,949 in the last ninety days. 22.15% of the stock is owned by company insiders.

Roblox Stock Performance

NYSE RBLX opened at $56.51 on Monday. The company has a market cap of $34.98 billion, a P/E ratio of -38.97 and a beta of 1.49. The business’s 50 day moving average price is $63.91 and its 200-day moving average price is $54.47. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Sell-side analysts predict that Roblox Co. will post -1.49 earnings per share for the current year.

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.