Picton Mahoney Asset Management Has $1.51 Million Stock Position in Roblox Corporation (NYSE:RBLX)

Key Points

• Picton Mahoney Asset Management significantly increased its investment in Roblox Corporation, raising its stake by 582.1% to own 25,850 shares valued at approximately $1.5 million.
• Several other hedge funds have also boosted their positions in Roblox, with notable increases from FMR LLC (89.4%) and Whale Rock Capital Management (95.8%) during the fourth quarter.
• Roblox reported a quarterly revenue of $1.04 billion, surpassing expectations, and while the company had a negative EPS of ($0.32), this was still better than the consensus estimate of ($0.41).

Picton Mahoney Asset Management boosted its stake in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 582.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,850 shares of the company's stock after purchasing an additional 22,060 shares during the quarter. Picton Mahoney Asset Management's holdings in Roblox were worth $1,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RBLX. Stonekeep Investments LLC raised its stake in shares of Roblox by 7.0% in the 1st quarter. Stonekeep Investments LLC now owns 8,905 shares of the company's stock worth $519,000 after buying an additional 586 shares in the last quarter. Schubert & Co grew its holdings in shares of Roblox by 20.1% in the 1st quarter. Schubert & Co now owns 6,622 shares of the company's stock worth $386,000 after acquiring an additional 1,108 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Roblox by 38.2% in the 1st quarter. Mackenzie Financial Corp now owns 39,159 shares of the company's stock worth $2,283,000 after acquiring an additional 10,830 shares during the last quarter. Carrera Capital Advisors grew its holdings in shares of Roblox by 1.9% in the 1st quarter. Carrera Capital Advisors now owns 17,826 shares of the company's stock worth $1,039,000 after acquiring an additional 338 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Roblox by 4.7% in the 1st quarter. TD Asset Management Inc now owns 136,171 shares of the company's stock worth $7,937,000 after acquiring an additional 6,174 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company's stock.

Insider Buying and Selling

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total transaction of $711,060.00. Following the transaction, the insider owned 307,223 shares of the company's stock, valued at approximately $36,408,997.73. This represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Baszucki sold 139,507 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $105.19, for a total value of $14,674,741.33. Following the transaction, the chief executive officer directly owned 211,559 shares in the company, valued at approximately $22,253,891.21. This represents a 39.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,651,690 shares of company stock worth $593,440,562 in the last three months. Insiders own 12.92% of the company's stock.

Roblox Stock Performance

Shares of NYSE RBLX traded up $12.71 during trading hours on Thursday, hitting $137.65. 24,643,810 shares of the company's stock were exchanged, compared to its average volume of 7,567,765. Roblox Corporation has a 1-year low of $35.30 and a 1-year high of $150.59. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $93.37 billion, a price-to-earnings ratio of -102.72 and a beta of 1.60. The company's 50-day moving average price is $104.20 and its 200-day moving average price is $78.13.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. During the same period in the prior year, the business earned ($0.32) EPS. Roblox's revenue was up 50.5% compared to the same quarter last year. On average, sell-side analysts expect that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of recent research reports. Macquarie lifted their target price on Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Wells Fargo & Company lifted their target price on Roblox from $78.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Canaccord Genuity Group lifted their price target on Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a report on Thursday. Oppenheimer reiterated an "outperform" rating and set a $125.00 price target (up previously from $80.00) on shares of Roblox in a report on Wednesday, June 18th. Finally, Wedbush lifted their price target on Roblox from $110.00 to $142.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $99.73.

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.