Roblox (NYSE:RBLX) Hits New 12-Month High After Analyst Upgrade

Roblox Co. (NYSE:RBLX)’s stock price hit a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $63.00 to $82.00. Citigroup currently has a buy rating on the stock. Roblox traded as high as $72.77 and last traded at $72.27, with a volume of 1095252 shares. The stock had previously closed at $70.68.

RBLX has been the subject of several other research reports. BTIG Research boosted their price target on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 1st. CICC Research started coverage on Roblox in a research note on Tuesday, January 14th. They set an “outperform” rating for the company. Canaccord Genuity Group lifted their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price target on shares of Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Benchmark raised their price objective on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.05.

Insider Buying and Selling

In other news, CEO David Baszucki sold 138,555 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $71.62, for a total value of $9,923,309.10. Following the transaction, the chief executive officer now directly owns 129,301 shares in the company, valued at approximately $9,260,537.62. This represents a 51.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 6,054 shares of Roblox stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total transaction of $311,357.22. Following the sale, the chief accounting officer now owns 85,008 shares of the company’s stock, valued at $4,371,961.44. The trade was a 6.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,306,335 shares of company stock worth $77,348,316 over the last three months. 22.15% of the stock is owned by insiders.

Institutional Trading of Roblox

Several institutional investors and hedge funds have recently modified their holdings of RBLX. Simon Quick Advisors LLC increased its holdings in Roblox by 4.6% during the 4th quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after purchasing an additional 217 shares during the period. Versant Capital Management Inc increased its stake in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Impact Partnership Wealth LLC raised its holdings in shares of Roblox by 3.8% in the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock valued at $298,000 after acquiring an additional 245 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Roblox by 3.8% in the fourth quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock worth $386,000 after acquiring an additional 245 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Roblox by 29.2% during the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after acquiring an additional 271 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Stock Up 4.4 %

The business’s 50-day simple moving average is $61.26 and its 200 day simple moving average is $50.15. The firm has a market cap of $44.85 billion, a PE ratio of -45.01 and a beta of 1.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

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.