Kennicott Capital Management LLC Has $13.52 Million Stock Holdings in Roblox Co. (NYSE:RBLX)

Kennicott Capital Management LLC boosted its stake in Roblox Co. (NYSE:RBLX) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 305,484 shares of the company’s stock after acquiring an additional 35,484 shares during the period. Roblox accounts for about 5.2% of Kennicott Capital Management LLC’s holdings, making the stock its 5th biggest position. Kennicott Capital Management LLC’s holdings in Roblox were worth $13,521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Roblox by 195.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,852,131 shares of the company’s stock valued at $81,975,000 after buying an additional 1,226,072 shares during the period. Blue Trust Inc. raised its stake in Roblox by 61.2% in the 3rd quarter. Blue Trust Inc. now owns 6,337 shares of the company’s stock valued at $280,000 after acquiring an additional 2,406 shares during the period. Moss Adams Wealth Advisors LLC lifted its holdings in Roblox by 1,972.1% during the third quarter. Moss Adams Wealth Advisors LLC now owns 13,241 shares of the company’s stock valued at $586,000 after purchasing an additional 12,602 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Roblox during the third quarter worth about $27,000. Finally, Bleakley Financial Group LLC increased its stake in shares of Roblox by 169.2% in the third quarter. Bleakley Financial Group LLC now owns 15,303 shares of the company’s stock worth $677,000 after purchasing an additional 9,619 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Roblox

In related news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the completion of the sale, the insider now directly owns 342,656 shares in the company, valued at $13,706,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total transaction of $525,850.00. Following the completion of the transaction, the director now directly owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the sale, the insider now owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 625,673 shares of company stock worth $27,331,806. Company insiders own 22.15% of the company’s stock.

Roblox Trading Up 1.0 %

Shares of RBLX opened at $40.31 on Tuesday. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $48.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a 50 day simple moving average of $43.14 and a two-hundred day simple moving average of $38.99.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The company had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.46) EPS. On average, equities analysts anticipate that Roblox Co. will post -1.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on RBLX. Macquarie raised their price objective on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. The Goldman Sachs Group raised their price target on Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Benchmark boosted their price objective on Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wolfe Research started coverage on Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Piper Sandler lifted their target price on Roblox from $48.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.14.

Roblox Company 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.