Kennicott Capital Management LLC Sells 270,000 Shares of Roblox Co. (NYSE:RBLX)

Kennicott Capital Management LLC lessened its holdings in shares of Roblox Co. (NYSE:RBLX - Free Report) by 88.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 35,484 shares of the company's stock after selling 270,000 shares during the quarter. Roblox comprises approximately 1.3% of Kennicott Capital Management LLC's holdings, making the stock its 18th largest position. Kennicott Capital Management LLC's holdings in Roblox were worth $2,068,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC lifted its holdings in shares of Roblox by 320.0% in the fourth quarter. V Square Quantitative Management LLC now owns 2,587 shares of the company's stock valued at $149,000 after buying an additional 1,971 shares during the period. NewSquare Capital LLC lifted its holdings in shares of Roblox by 2.7% in the first quarter. NewSquare Capital LLC now owns 115,121 shares of the company's stock valued at $6,710,000 after buying an additional 3,065 shares during the period. Amundi lifted its holdings in shares of Roblox by 111.4% in the fourth quarter. Amundi now owns 3,191,137 shares of the company's stock valued at $198,010,000 after buying an additional 1,681,263 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Roblox by 101.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock valued at $40,762,000 after buying an additional 355,270 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Roblox in the fourth quarter valued at $278,000. Institutional investors and hedge funds own 94.46% of the company's stock.

Roblox Stock Up 2.3%

Shares of RBLX traded up $2.23 during midday trading on Friday, reaching $97.34. 9,208,006 shares of the stock were exchanged, compared to its average volume of 7,930,940. Roblox Co. has a 12-month low of $34.41 and a 12-month high of $98.15. The firm has a 50 day simple moving average of $74.96 and a 200-day simple moving average of $65.93. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company has a market cap of $66.02 billion, a price-to-earnings ratio of -67.13 and a beta of 1.56.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The business's quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the business earned ($0.43) EPS. Research analysts forecast that Roblox Co. will post -1.49 EPS for the current year.

Insider Activity

In other Roblox news, CAO Amy Marie Rawlings sold 6,391 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total value of $515,498.06. Following the sale, the chief accounting officer now owns 73,931 shares of the company's stock, valued at $5,963,274.46. This trade represents a 7.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Baszucki sold 60,047 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.97, for a total value of $5,762,710.59. Following the completion of the sale, the chief executive officer now directly owns 211,559 shares in the company, valued at $20,303,317.23. This trade represents a 22.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,287,171 shares of company stock valued at $438,237,134. Insiders own 12.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RBLX. JPMorgan Chase & Co. upped their target price on Roblox from $80.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Bank of America upped their target price on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Roth Mkm upped their target price on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Wedbush upped their target price on Roblox from $91.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Oppenheimer upped their target price on Roblox from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Roblox presently has a consensus rating of "Moderate Buy" and an average target price of $76.09.

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.