Bank of Nova Scotia Raises Stock Position in Roblox Corporation $RBLX

Bank of Nova Scotia lifted its holdings in shares of Roblox Corporation (NYSE:RBLX) by 2,973.0% during the 2nd quarter, according to its most recent 13F filing 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 owned about 0.10% of Roblox worth $68,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RBLX. Nuveen LLC bought a new position in shares of Roblox during the first quarter worth about $70,254,000. Fox Run Management L.L.C. raised its stake in Roblox by 56.5% during the first quarter. Fox Run Management L.L.C. now owns 12,161 shares of the company’s stock valued at $709,000 after buying an additional 4,390 shares in the last quarter. Vanguard Group Inc. raised its stake in Roblox by 2.6% during the second quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock valued at $6,222,993,000 after buying an additional 1,513,608 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Roblox during the 2nd quarter worth approximately $120,041,000. Finally, Teacher Retirement System of Texas grew its position in shares of Roblox by 14.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 81,314 shares of the company’s stock worth $8,554,000 after acquiring an additional 10,325 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Roblox

In related news, Director Anthony P. Lee sold 66,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.54, for a total value of $6,107,640.00. Following the completion of the sale, the director owned 261,388 shares of the company’s stock, valued at $24,188,845.52. This represents a 20.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew D. Kaufman sold 20,867 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $96.10, for a total transaction of $2,005,318.70. Following the transaction, the insider directly owned 239,775 shares in the company, valued at approximately $23,042,377.50. The trade was a 8.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 382,508 shares of company stock valued at $40,838,541. 12.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RBLX has been the topic of several research reports. Citigroup upped their price target on Roblox from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Piper Sandler set a $130.00 target price on shares of Roblox in a report on Friday, October 31st. Cowen reaffirmed a “sell” rating on shares of Roblox in a report on Monday, August 18th. Jefferies Financial Group boosted their price objective on shares of Roblox from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, October 14th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $165.00 price objective (up previously from $155.00) on shares of Roblox in a research note on Tuesday, October 14th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.54.

Roblox Stock Performance

Shares of NYSE RBLX opened at $96.28 on Monday. Roblox Corporation has a 12-month low of $50.10 and a 12-month high of $150.59. The company has a market cap of $63.05 billion, a PE ratio of -67.33 and a beta of 1.62. The stock has a 50 day simple moving average of $113.97 and a 200-day simple moving average of $114.52. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54.

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