Roblox (NYSE:RBLX) Trading 2.9% Higher – Still a Buy?

Shares of Roblox Co. (NYSE:RBLX) traded up 2.9% during mid-day trading on Friday . The company traded as high as $59.00 and last traded at $59.63. 1,462,330 shares were traded during trading, a decline of 81% from the average session volume of 7,563,877 shares. The stock had previously closed at $57.92.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. CICC Research assumed coverage on Roblox in a research report on Tuesday, January 14th. They set an “outperform” rating for the company. Wells Fargo & Company boosted their price target on Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and issued a $71.00 target price on shares of Roblox in a research report on Tuesday, March 18th. Finally, Morgan Stanley upped their target price on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.19.

Roblox Trading Up 5.7 %

The company has a market capitalization of $37.89 billion, a price-to-earnings ratio of -42.21 and a beta of 1.49. The firm has a 50-day moving average price of $63.54 and a 200-day moving average price of $54.90. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. As a group, sell-side analysts predict that Roblox Co. will post -1.49 EPS for the current year.

Insider Buying and Selling

In other news, CEO David Baszucki sold 34,099 shares of Roblox stock in a transaction on Monday, March 17th. The stock was sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the transaction, the chief executive officer now owns 221,983 shares in the company, valued at approximately $12,664,130.15. The trade was a 13.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 26,154 shares of Roblox stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total value of $1,724,594.76. Following the transaction, the chief financial officer now owns 417,079 shares in the company, valued at $27,502,189.26. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 950,466 shares of company stock worth $61,646,297 in the last three months. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

A number of institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC boosted its position in Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock valued at $1,873,000 after purchasing an additional 161 shares during the last quarter. Rakuten Securities Inc. boosted its position in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after purchasing an additional 195 shares during the last quarter. Simon Quick Advisors LLC lifted its position in shares of Roblox by 4.6% in the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after buying an additional 217 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after buying an additional 230 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 94.46% 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.