Roblox (NYSE:RBLX) Trading 0.4% Higher

Roblox Co. (NYSE:RBLX)’s share price was up 0.4% during trading on Thursday . The company traded as high as $44.02 and last traded at $43.51. Approximately 1,858,992 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 7,378,888 shares. The stock had previously closed at $43.35.

Analyst Upgrades and Downgrades

RBLX has been the topic of several analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $56.00 target price on shares of Roblox in a report on Tuesday, July 30th. BTIG Research reduced their price objective on shares of Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. The Goldman Sachs Group lifted their target price on shares of Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Macquarie upped 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. Finally, Jefferies Financial Group assumed coverage on Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 price target for the company. Eight equities 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.15.

Roblox Stock Up 1.8 %

The firm has a market cap of $26.11 billion, a P/E ratio of -23.74 and a beta of 1.60. The stock’s 50 day simple moving average is $38.78 and its 200 day simple moving average is $38.01. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate 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 company had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts anticipate that Roblox Co. will post -1.59 EPS for the current year.

Insider Activity

In related news, insider Mark Reinstra sold 17,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.47, for a total transaction of $687,990.00. Following the completion of the sale, the insider now owns 342,656 shares in the company, valued at $13,867,288.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Mark Reinstra sold 17,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $40.47, for a total transaction of $687,990.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,867,288.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Baszucki sold 166,668 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the transaction, the chief executive officer now owns 142,260 shares in the company, valued at $5,720,274.60. The disclosure for this sale can be found here. Insiders have sold 502,149 shares of company stock worth $19,076,307 over the last 90 days. 22.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

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

About Roblox

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.