Kornitzer Capital Management Inc. KS Buys New Position in Roblox Corporation $RBLX

Kornitzer Capital Management Inc. KS bought a new stake in Roblox Corporation (NYSE:RBLX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 53,250 shares of the company’s stock, valued at approximately $7,376,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Roblox in the 2nd quarter valued at $350,720,000. Federated Hermes Inc. grew its holdings in shares of Roblox by 103.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock valued at $341,410,000 after acquiring an additional 1,646,871 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Roblox by 47.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock valued at $503,718,000 after acquiring an additional 1,531,380 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Roblox by 2.6% in the second 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 last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Roblox by 359.8% during the second quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock worth $191,295,000 after acquiring an additional 1,422,894 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Insider Activity at Roblox

In other news, Director Anthony P. Lee sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $82.45, for a total value of $577,150.00. Following the transaction, the director owned 256,768 shares of the company’s stock, valued at approximately $21,170,521.60. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amy Marie Rawlings sold 2,642 shares of Roblox stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $95.24, for a total value of $251,624.08. Following the sale, the chief accounting officer directly owned 46,452 shares of the company’s stock, valued at approximately $4,424,088.48. The trade was a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 504,300 shares of company stock valued at $46,290,436. Insiders own 12.92% of the company’s stock.

Roblox Price Performance

NYSE:RBLX opened at $72.18 on Wednesday. The company has a market cap of $47.27 billion, a P/E ratio of -50.48 and a beta of 1.64. The firm’s fifty day moving average price is $85.21 and its two-hundred day moving average price is $110.64. Roblox Corporation has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96.

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

Wall Street Analyst Weigh In

RBLX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $115.00 price target on Roblox in a research report on Tuesday, January 20th. The Goldman Sachs Group upgraded shares of Roblox from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $155.00 to $180.00 in a report on Friday, October 31st. BTIG Research cut their price target on shares of Roblox from $180.00 to $174.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Jefferies Financial Group set a $85.00 price objective on shares of Roblox in a research report on Thursday, January 15th. Finally, UBS Group set a $155.00 target price on shares of Roblox in a report on Tuesday, January 13th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.04.

About Roblox

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.