Roblox (NYSE:RBLX) Hits New 1-Year High at $47.33

Roblox Co. (NYSE:RBLX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $47.33 and last traded at $47.23, with a volume of 2600642 shares changing hands. The stock had previously closed at $45.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Macquarie lifted their price target on shares of Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wolfe Research began coverage on Roblox in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. BTIG Research boosted their price target on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Needham & Company LLC raised their target price on shares of Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

Roblox Price Performance

The company has a 50 day moving average price of $41.20 and a 200-day moving average price of $38.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04.

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

Insider Buying and Selling

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $36.67, for a total value of $476,710.00. Following the sale, the director now owns 9,721,603 shares in the company, valued at approximately $356,491,182.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Friday, July 5th. The shares were sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $14,168,620.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total transaction of $476,710.00. Following the sale, the director now directly owns 9,721,603 shares in the company, valued at approximately $356,491,182.01. The disclosure for this sale can be found here. Insiders sold a total of 608,675 shares of company stock valued at $25,410,923 in the last three months. Insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RBLX. Swedbank AB boosted its stake in Roblox by 0.5% during the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after acquiring an additional 285 shares in the last quarter. Thrive Wealth Management LLC raised its holdings in shares of Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after purchasing an additional 300 shares during the period. Mystic Asset Management Inc. boosted its position in shares of Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after purchasing an additional 325 shares in the last quarter. Center for Financial Planning Inc. grew its stake in shares of Roblox by 2.3% in the 2nd quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock valued at $659,000 after buying an additional 400 shares during the period. Finally, AlTi Global Inc. raised its stake in Roblox by 8.1% during the 2nd quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after buying an additional 445 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

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.