Roblox (NYSE:RBLX) Reaches New 52-Week High on Analyst Upgrade

Shares of Roblox Co. (NYSE:RBLX) reached a new 52-week high during mid-day trading on Monday after Roth Mkm raised their price target on the stock from $54.00 to $70.00. Roth Mkm currently has a neutral rating on the stock. Roblox traded as high as $67.84 and last traded at $67.40, with a volume of 1351056 shares traded. The stock had previously closed at $67.07.

Several other brokerages have also issued reports on RBLX. Barclays increased their price target on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Wells Fargo & Company increased their target price on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. BMO Capital Markets restated an “outperform” rating and set a $62.00 price target (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Wedbush restated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. Finally, HSBC began coverage on shares of Roblox in a report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average target price of $58.81.

Insiders Place Their Bets

In other news, insider Arvind Chakravarthy sold 14,269 shares of Roblox stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total value of $705,316.67. Following the completion of the transaction, the insider now owns 244,803 shares in the company, valued at $12,100,612.29. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,417,812 shares of company stock valued at $80,070,173. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Roblox in the third quarter worth about $27,000. Frazier Financial Advisors LLC lifted its stake in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares in the last quarter. Versant Capital Management Inc lifted its stake in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Roblox by 277.0% in the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after purchasing an additional 770 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Up 0.1 %

The company has a market cap of $40.81 billion, a PE ratio of -40.95 and a beta of 1.43. The stock has a 50-day moving average of $58.76 and a 200-day moving average of $48.86. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm posted ($0.45) EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

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.