Roblox (NYSE:RBLX) Reaches New 52-Week High – What’s Next?

Roblox Co. (NYSE:RBLX)’s share price reached a new 52-week high on Thursday . The stock traded as high as $51.15 and last traded at $48.70, with a volume of 3573876 shares traded. The stock had previously closed at $43.14.

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent analyst reports. Benchmark upped their price objective on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on shares of Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Roblox from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Roth Mkm raised their target price on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC raised their price target on shares of Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Roblox Stock Performance

The business’s fifty day moving average price is $43.36 and its two-hundred day moving average price is $39.15. 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 has a market capitalization of $30.28 billion, a P/E ratio of -28.70 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. The company 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 firm’s revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.46) EPS. As a group, sell-side analysts forecast that Roblox Co. will post -1.57 earnings per share for the current year.

Insider Activity at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 779,341 shares of company stock worth $33,831,012. Insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Gulf International Bank UK Ltd lifted its position in Roblox by 8.4% during the third quarter. Gulf International Bank UK Ltd now owns 37,686 shares of the company’s stock valued at $1,667,000 after acquiring an additional 2,932 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Roblox by 724.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 804,488 shares of the company’s stock worth $35,607,000 after buying an additional 706,939 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Roblox by 94.4% in the third quarter. Janney Montgomery Scott LLC now owns 18,404 shares of the company’s stock worth $815,000 after buying an additional 8,939 shares during the last quarter. Cigna Investments Inc. New purchased a new position in shares of Roblox in the third quarter worth $233,000. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of Roblox by 12.8% in the third quarter. First Trust Direct Indexing L.P. now owns 6,219 shares of the company’s stock worth $275,000 after buying an additional 708 shares during the last quarter. Hedge funds and other institutional investors 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.