Contrarius Group Holdings Ltd Purchases Shares of 303,462 Roblox Co. (NYSE:RBLX)

Contrarius Group Holdings Ltd purchased a new stake in shares of Roblox Co. (NYSE:RBLX) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 303,462 shares of the company’s stock, valued at approximately $17,558,000. Roblox comprises 1.1% of Contrarius Group Holdings Ltd’s holdings, making the stock its 22nd biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas bought a new stake in shares of Roblox in the fourth quarter valued at about $259,000. Royal London Asset Management Ltd. lifted its stake in shares of Roblox by 5.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 222,130 shares of the company’s stock valued at $12,852,000 after buying an additional 11,692 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of Roblox by 15,140.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,524 shares of the company’s stock valued at $88,000 after buying an additional 1,514 shares during the period. Vinva Investment Management Ltd lifted its stake in shares of Roblox by 316.6% in the fourth quarter. Vinva Investment Management Ltd now owns 23,069 shares of the company’s stock valued at $1,349,000 after buying an additional 17,532 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Roblox by 11.1% in the fourth quarter. Xponance Inc. now owns 97,370 shares of the company’s stock valued at $5,634,000 after buying an additional 9,734 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Insider Activity at Roblox

In other Roblox news, Director Anthony P. Lee sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.04, for a total value of $16,260,000.00. Following the transaction, the director now directly owns 6,254,137 shares of the company’s stock, valued at approximately $406,769,070.48. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 5,879 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 75,528 shares in the company, valued at approximately $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 950,466 shares of company stock valued at $61,646,297 over the last quarter. Corporate insiders own 22.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RBLX. Piper Sandler reiterated an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Barclays reduced their target price on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Needham & Company LLC increased their target price on shares of Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Roth Mkm increased their target price on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, OTR Global raised shares of Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.19.

Roblox Stock Performance

Shares of Roblox stock opened at $58.17 on Thursday. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market cap of $36.01 billion, a P/E ratio of -40.11 and a beta of 1.49. The firm has a 50 day simple moving average of $63.63 and a 200 day simple moving average of $54.68. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $75.74.

Roblox (NYSE:RBLX) last issued its quarterly earnings results 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 fiscal year.

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.