Roblox (NYSE:RBLX) Stock Price Up 5.7%

Shares of Roblox Co. (NYSE:RBLX) rose 5.7% during trading on Tuesday . The company traded as high as $39.47 and last traded at $39.44. Approximately 2,197,906 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 7,380,454 shares. The stock had previously closed at $37.32.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RBLX. Roth Mkm increased their price target on Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $56.00 price objective on shares of Roblox in a report on Tuesday, July 30th. Roth Capital lowered shares of Roblox from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Benchmark upped 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 investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $44.48.

Roblox Price Performance

The company has a market capitalization of $23.19 billion, a PE ratio of -21.20 and a beta of 1.60. The stock has a 50 day moving average price of $37.92 and a two-hundred day moving average price of $37.92. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.07 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. The firm had revenue of $893.50 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.46) earnings per share. Equities analysts forecast that Roblox Co. will post -1.59 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Arvind Chakravarthy sold 18,165 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $591,452.40. Following the completion of the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at $10,515,772.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Michael Guthrie sold 900 shares of Roblox stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the sale, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $13,112,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arvind Chakravarthy sold 18,165 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $591,452.40. Following the completion of the transaction, the insider now owns 322,966 shares of the company’s stock, valued at $10,515,772.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 471,613 shares of company stock valued at $17,411,713. 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 made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Roblox in the 4th quarter valued at $25,000. PARK CIRCLE Co acquired a new stake in shares of Roblox in the 2nd quarter valued at $30,000. Strategic Financial Concepts LLC bought a new stake in shares of Roblox in the 2nd quarter worth about $33,000. Gilliland Jeter Wealth Management LLC increased its position in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new position in Roblox during the 1st quarter valued at about $39,000. 91.08% of the stock is owned by 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.