Roblox (NYSE:RBLX) Shares Gap Up to $43.71

Roblox Co. (NYSE:RBLX)’s share price gapped up before the market opened on Friday . The stock had previously closed at $43.71, but opened at $44.80. Roblox shares last traded at $44.05, with a volume of 630,962 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RBLX shares. Wolfe Research started coverage on shares of Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Benchmark increased their target price on shares of Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $56.00 target price on shares of Roblox in a report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $46.00 target price on shares of Roblox in a report on Monday, July 29th. Finally, Needham & Company LLC raised their price objective on shares of Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.15.

Roblox Price Performance

The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day moving average is $40.47 and its 200 day moving average is $38.03. The stock has a market capitalization of $25.80 billion, a PE ratio of -23.46 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (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 for the quarter, compared to the consensus estimate of $897.88 million. During the same period last year, the firm posted ($0.46) EPS. Roblox’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, equities analysts expect that Roblox Co. will post -1.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $35.12, for a total transaction of $5,853,309.92. Following the completion of the sale, the chief executive officer now directly owns 142,260 shares in the company, valued at approximately $4,996,171.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 715,779 shares of company stock valued at $28,583,909. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PARK CIRCLE Co acquired a new position in shares of Roblox in the second quarter valued at approximately $30,000. Strategic Financial Concepts LLC purchased a new stake in Roblox in the second quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC grew its holdings in Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares during the period. Washington Trust Advisors Inc. purchased a new stake in Roblox in the first quarter valued at approximately $39,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Roblox by 98.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after purchasing an additional 548 shares during the period. 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.