Roblox (NYSE:RBLX) Shares Up 2.8%

Roblox Co. (NYSE:RBLX) shares rose 2.8% on Wednesday . The stock traded as high as $42.02 and last traded at $41.67. Approximately 2,786,195 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 7,356,751 shares. The stock had previously closed at $40.54.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RBLX. Canaccord Genuity Group cut their target price on Roblox from $56.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Benchmark upped their price objective on Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $40.00 price target (down from $56.00) on shares of Roblox in a report on Friday, May 10th. Finally, Morgan Stanley decreased their price objective on shares of Roblox from $42.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.15.

Roblox Stock Up 1.8 %

The firm’s fifty day simple moving average is $38.78 and its two-hundred day simple moving average is $38.01. The company has a market capitalization of $26.11 billion, a price-to-earnings ratio of -23.74 and a beta of 1.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The business had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. During the same period in the previous year, the firm earned ($0.46) EPS. The business’s revenue was up 31.2% on a year-over-year basis. Sell-side analysts anticipate that Roblox Co. will post -1.59 EPS for the current year.

Insider Activity

In other news, insider Arvind Chakravarthy sold 13,970 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total value of $488,950.00. Following the completion of the transaction, the insider now owns 308,996 shares in the company, valued at approximately $10,814,860. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Michael Guthrie sold 21,789 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $879,186.15. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at $14,237,255.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arvind Chakravarthy sold 13,970 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total transaction of $488,950.00. Following the completion of the transaction, the insider now directly owns 308,996 shares in the company, valued at $10,814,860. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 502,149 shares of company stock worth $19,076,307. 22.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its position in shares of Roblox by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after buying an additional 1,419 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Roblox by 3,188.8% during the 4th quarter. International Assets Investment Management LLC now owns 84,719 shares of the company’s stock worth $3,873,000 after purchasing an additional 82,143 shares in the last quarter. Kodai Capital Management LP purchased a new stake in Roblox in the 4th quarter valued at approximately $6,805,000. SteelPeak Wealth LLC raised its holdings in shares of Roblox by 41.4% in the first quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company’s stock worth $423,000 after acquiring an additional 3,247 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Roblox by 18.3% in the first quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock valued at $11,000,000 after acquiring an additional 44,557 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.