Roblox (NYSE:RBLX) Stock Price Down 3.7%

Roblox Co. (NYSE:RBLX)’s share price dropped 3.7% during mid-day trading on Thursday . The company traded as low as $45.69 and last traded at $45.87. Approximately 1,522,939 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 7,203,964 shares. The stock had previously closed at $47.64.

Wall Street Analyst Weigh In

RBLX has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of Roblox in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Jefferies Financial Group began coverage on shares of Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price on the stock. Barclays boosted their target price on shares of Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Benchmark boosted their target price on shares of Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.81.

Roblox Stock 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 firm’s 50 day moving average is $42.19 and its 200-day moving average is $38.51. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of -25.60 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its 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 business’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.46) EPS. Analysts forecast that Roblox Co. will post -1.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on 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 in the company, valued at $13,706,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Arvind Chakravarthy sold 14,176 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $43.94, for a total transaction of $622,893.44. Following the completion of the sale, the insider now owns 276,892 shares of the company’s stock, valued at $12,166,634.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the sale, the insider now directly owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 779,341 shares of company stock worth $33,302,376. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in shares of Roblox during the second quarter worth $1,105,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Roblox during the second quarter worth $2,663,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Roblox by 6.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 210,737 shares of the company’s stock worth $7,841,000 after buying an additional 12,500 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Roblox by 4.4% in the second quarter. Cetera Investment Advisers now owns 41,332 shares of the company’s stock valued at $1,538,000 after purchasing an additional 1,748 shares during the period. Finally, Greenvale Capital LLP purchased a new stake in shares of Roblox in the second quarter valued at about $89,304,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.