Roblox Corporation $RBLX Holdings Lifted by Bank of Nova Scotia

Bank of Nova Scotia boosted its holdings in Roblox Corporation (NYSE:RBLX) by 2,973.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 654,553 shares of the company’s stock after acquiring an additional 633,253 shares during the quarter. Bank of Nova Scotia’s holdings in Roblox were worth $68,859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RBLX. Whipplewood Advisors LLC acquired a new stake in Roblox during the second quarter valued at approximately $34,000. ORG Partners LLC acquired a new position in Roblox in the second quarter worth approximately $33,000. Generali Asset Management SPA SGR acquired a new position in Roblox in the second quarter worth approximately $40,000. Kiker Wealth Management LLC increased its holdings in shares of Roblox by 2,646.7% in the second quarter. Kiker Wealth Management LLC now owns 412 shares of the company’s stock valued at $43,000 after buying an additional 397 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Roblox during the 2nd quarter valued at $44,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Roblox

In related news, insider Matthew D. Kaufman sold 20,867 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $96.10, for a total value of $2,005,318.70. Following the completion of the sale, the insider owned 239,775 shares of the company’s stock, valued at approximately $23,042,377.50. The trade was a 8.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Arvind Chakravarthy sold 20,912 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total transaction of $1,991,449.76. Following the transaction, the insider directly owned 181,043 shares in the company, valued at approximately $17,240,724.89. The trade was a 10.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 382,508 shares of company stock valued at $40,838,541. Corporate insiders own 12.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RBLX shares. The Goldman Sachs Group upgraded Roblox from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $155.00 to $180.00 in a report on Friday, October 31st. Citigroup upped their target price on Roblox from $152.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. BMO Capital Markets lifted their price target on Roblox from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. UBS Group started coverage on Roblox in a report on Wednesday. They set a “neutral” rating and a $103.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $159.00 target price on shares of Roblox in a report on Friday, October 31st. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.54.

Roblox Stock Up 1.1%

RBLX stock opened at $96.28 on Monday. The company has a 50 day moving average of $113.97 and a two-hundred day moving average of $114.52. The company has a market cap of $63.05 billion, a price-to-earnings ratio of -67.33 and a beta of 1.62. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.54.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.07. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company posted ($0.37) EPS. Roblox’s revenue was up 70.3% on a year-over-year basis. On average, equities analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal 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.