Kinetic Partners Management LP Makes New $6.57 Million Investment in Roblox Corporation $RBLX

Kinetic Partners Management LP purchased a new position in shares of Roblox Corporation (NYSE:RBLX) during the second quarter, Holdings Channel reports. The institutional investor purchased 120,800 shares of the company’s stock, valued at approximately $6,569,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Roblox by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after acquiring an additional 1,020,786 shares during the period. Capital International Investors increased its position in Roblox by 7.3% during the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after purchasing an additional 2,184,439 shares during the period. Morgan Stanley raised its holdings in shares of Roblox by 8.1% in the 4th quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock valued at $1,679,664,000 after purchasing an additional 1,555,549 shares in the last quarter. State Street Corp raised its holdings in shares of Roblox by 3.3% in the 4th quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after purchasing an additional 442,518 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Roblox by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after purchasing an additional 547,103 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

More Roblox News

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Short interest fell 42.4% to 13.88 million shares as of August 14, down from 24.11 million shares on July 30. Only about 2.3% of Roblox’s outstanding shares are now sold short, and the short-interest ratio is 0.8 days. The reduction suggests that bearish investors have been covering positions, potentially reducing near-term selling pressure on RBLX. Roblox short interest data
• Neutral Sentiment: CEO David Baszucki, CFO Naveen Chopra, CAO Amy Rawlings, and other insiders collectively sold shares worth roughly $4.31 million in transactions dated August 20, with additional shares sold by Sean Jack Buckley on August 24. Most filings said the sales were made to cover tax obligations associated with equity-award vesting, rather than discretionary open-market selling. Roblox insider transaction filings
• Neutral Sentiment: Although the transactions reduced individual insider holdings by approximately 4% to 7%, the executives and directors continued to own substantial positions. As a result, the sales offer limited evidence of deteriorating management confidence and are unlikely to be a major catalyst by themselves. Sean Jack Buckley insider filing

Analysts Set New Price Targets

A number of research firms have recently issued reports on RBLX. The Goldman Sachs Group dropped their price objective on shares of Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. HSBC lowered Roblox from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a report on Friday, May 1st. Oppenheimer cut their price target on Roblox from $82.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, August 4th. B. Riley Financial reduced their price target on Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, UBS Group set a $33.00 price objective on Roblox in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Hold” and a consensus price target of $60.89.

Insider Buying and Selling

In other news, CEO David Baszucki sold 52,568 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $1,995,481.28. Following the transaction, the chief executive officer owned 799,646 shares in the company, valued at $30,354,562.16. This represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Reinstra sold 17,934 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $680,774.64. Following the completion of the transaction, the insider directly owned 398,064 shares of the company’s stock, valued at $15,110,509.44. The trade was a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 167,976 shares of company stock valued at $6,822,684 in the last 90 days. 10.05% of the stock is owned by insiders.

Roblox Price Performance

NYSE RBLX opened at $39.15 on Wednesday. The firm’s fifty day simple moving average is $46.77 and its two-hundred day simple moving average is $52.21. The firm has a market capitalization of $26.23 billion, a P/E ratio of -27.38 and a beta of 1.46. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. Roblox Corporation has a 12-month low of $33.88 and a 12-month high of $142.00.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business posted ($0.41) EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts forecast that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox declared that its board has initiated a share buyback program on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 9.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.