Kennicott Capital Management LLC Lowers Stake in Roblox Co. (NYSE:RBLX)

Kennicott Capital Management LLC lessened its stake in Roblox Co. (NYSE:RBLX) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 270,000 shares of the company’s stock after selling 40,000 shares during the quarter. Roblox makes up approximately 6.1% of Kennicott Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Kennicott Capital Management LLC’s holdings in Roblox were worth $12,344,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Roblox during the 4th quarter valued at $25,000. Blue Trust Inc. grew its position in shares of Roblox by 566.5% during the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after purchasing an additional 912 shares in the last quarter. Allworth Financial LP grew its position in shares of Roblox by 90.2% during the 4th quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock valued at $57,000 after purchasing an additional 587 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Roblox during the 4th quarter valued at $58,000. Finally, Impact Partnership Wealth LLC grew its position in shares of Roblox by 23.4% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,127 shares of the company’s stock valued at $62,000 after purchasing an additional 403 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Roblox Trading Up 3.8 %

Shares of NYSE:RBLX traded up $1.34 during midday trading on Tuesday, hitting $36.30. 8,680,911 shares of the stock traded hands, compared to its average volume of 7,558,783. The stock has a market capitalization of $21.46 billion, a PE ratio of -19.41 and a beta of 1.64. The business’s 50 day moving average is $39.03 and its two-hundred day moving average is $39.01. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. Roblox Co. has a one year low of $24.88 and a one year high of $47.20.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned ($0.48) earnings per share. Roblox’s revenue was up 25.3% on a year-over-year basis. As a group, research analysts forecast that Roblox Co. will post -2.1 earnings per share for the current year.

Analysts Set New Price Targets

RBLX has been the subject of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $53.00 price target on shares of Roblox in a research report on Monday. Barclays upgraded shares of Roblox from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $26.00 to $46.00 in a research report on Thursday, February 8th. The Goldman Sachs Group upgraded shares of Roblox from a “sell” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $48.00 in a research report on Thursday, February 8th. JPMorgan Chase & Co. upgraded shares of Roblox from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $48.00 in a research report on Tuesday. Finally, Needham & Company LLC upped their target price on shares of Roblox from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $36.06, for a total transaction of $1,081,800.00. Following the completion of the transaction, the chief financial officer now owns 396,709 shares of the company’s stock, valued at $14,305,326.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $36.06, for a total transaction of $1,081,800.00. Following the sale, the chief financial officer now owns 396,709 shares in the company, valued at $14,305,326.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 200,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the sale, the chief executive officer now owns 1 shares in the company, valued at approximately $44.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 707,707 shares of company stock valued at $29,526,367. Corporate insiders own 22.15% of the company’s stock.

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.