Roblox (NYSE:RBLX) Hits New 1-Year High at $47.75

Roblox Co. (NYSE:RBLX)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $47.75 and last traded at $47.67, with a volume of 148592 shares changing hands. The stock had previously closed at $47.11.

Analyst Ratings Changes

Several research firms recently issued reports on RBLX. Wedbush reissued an “outperform” rating and set a $46.00 target price on shares of Roblox in a research note on Monday, July 29th. 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. Macquarie boosted their price target on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Wolfe Research initiated coverage on Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, BTIG Research lifted their target price on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a report on Monday, September 9th. Eight research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.40.

Roblox Price Performance

The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $28.78 billion, a price-to-earnings ratio of -25.33 and a beta of 1.60. The stock has a 50-day moving average price of $42.04 and a 200 day moving average price of $38.44.

Roblox (NYSE:RBLX) last released its quarterly 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. The company had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.46) earnings per share. As a group, equities research analysts forecast that Roblox Co. will post -1.59 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 374,633 shares in the company, 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. In related news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the completion of the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,706,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $37.82, for a total value of $1,134,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,168,620.06. The disclosure for this sale can be found here. Insiders sold a total of 779,341 shares of company stock worth $33,302,376 in the last 90 days. 22.15% of the stock is owned by insiders.

Institutional Trading of Roblox

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Roblox by 15.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 442,836 shares of the company’s stock worth $20,250,000 after acquiring an additional 59,327 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Roblox by 85.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,235 shares of the company’s stock valued at $605,000 after purchasing an additional 6,082 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Roblox by 22.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,697 shares of the company’s stock worth $626,000 after buying an additional 2,487 shares during the last quarter. US Bancorp DE boosted its position in shares of Roblox by 34.8% in the 4th quarter. US Bancorp DE now owns 65,289 shares of the company’s stock worth $2,985,000 after buying an additional 16,869 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Roblox by 6.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 107,800 shares of the company’s stock valued at $4,929,000 after acquiring an additional 7,000 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.