Kornitzer Capital Management Inc. KS Acquires Shares of 53,250 Roblox Corporation $RBLX

Kornitzer Capital Management Inc. KS bought a new position in shares of Roblox Corporation (NYSE:RBLX) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 53,250 shares of the company’s stock, valued at approximately $7,376,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Roblox by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 59,153,925 shares of the company’s stock valued at $6,222,993,000 after acquiring an additional 1,513,608 shares during the period. SG Americas Securities LLC raised its stake in Roblox by 298.4% in the third quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock valued at $45,617,000 after purchasing an additional 246,652 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Roblox during the second quarter worth about $120,041,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Roblox during the third quarter worth about $2,895,000. Finally, Teacher Retirement System of Texas grew its stake in Roblox by 14.5% during the second quarter. Teacher Retirement System of Texas now owns 81,314 shares of the company’s stock worth $8,554,000 after buying an additional 10,325 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RBLX. UBS Group set a $155.00 price target on shares of Roblox in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of Roblox in a research report on Tuesday, January 20th. Canaccord Genuity Group set a $160.00 target price on Roblox in a report on Thursday, October 30th. Oppenheimer reissued an “outperform” rating and set a $150.00 price target on shares of Roblox in a report on Friday, October 31st. Finally, Jefferies Financial Group set a $85.00 price objective on Roblox in a research note on Thursday, January 15th. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.04.

Insider Buying and Selling

In other Roblox news, insider Arvind Chakravarthy sold 20,912 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total value of $1,991,449.76. Following the completion of the transaction, the insider directly owned 181,043 shares in the company, valued at approximately $17,240,724.89. This represents a 10.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Naveen K. Chopra sold 19,424 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the transaction, the chief financial officer directly owned 337,036 shares of the company’s stock, valued at $32,095,938.28. The trade was a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 504,300 shares of company stock valued at $46,290,436 over the last three months. Insiders own 12.92% of the company’s stock.

Roblox Stock Down 2.5%

Shares of RBLX opened at $72.18 on Wednesday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.96 and a current ratio of 0.96. Roblox Corporation has a 52 week low of $50.10 and a 52 week high of $150.59. The stock has a market capitalization of $47.27 billion, a price-to-earnings ratio of -50.48 and a beta of 1.64. The stock has a fifty day moving average of $85.21 and a 200-day moving average of $110.64.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.07. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Roblox had a negative return on equity of 314.20% and a negative net margin of 21.70%.The business’s revenue for the quarter was up 70.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.37) EPS. As a group, sell-side analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.