Roblox (NYSE:RBLX) Reaches New 52-Week High at $47.33

Roblox Co. (NYSE:RBLX) reached a new 52-week high during trading on Monday . The company traded as high as $47.33 and last traded at $47.23, with a volume of 2600642 shares changing hands. The stock had previously closed at $45.87.

Analysts Set New Price Targets

A number of research firms have commented on RBLX. Wells Fargo & Company raised their target price on shares of Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Roth Mkm lifted their target price on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Wedbush reiterated an “outperform” rating and issued a $46.00 target price on shares of Roblox in a research note on Monday, July 29th. Barclays lifted their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $56.00 price objective on shares of Roblox in a research note on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.40.

Roblox Price Performance

The firm has a market cap of $27.11 billion, a PE ratio of -24.35 and a beta of 1.60. The stock’s fifty day moving average price is $41.57 and its 200-day moving average price is $38.27. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. The firm had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.46) EPS. As a group, equities analysts expect that Roblox Co. will post -1.59 EPS for the current fiscal year.

Insider Activity

In other news, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total transaction of $476,710.00. Following the transaction, the director now owns 9,721,603 shares of the company’s stock, valued at approximately $356,491,182.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total value of $25,645.44. Following the transaction, the insider now owns 276,892 shares of the company’s stock, valued at $11,994,961.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total transaction of $476,710.00. Following the completion of the transaction, the director now directly owns 9,721,603 shares in the company, valued at approximately $356,491,182.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 608,675 shares of company stock valued at $25,410,923. 22.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Swedbank AB lifted its position in Roblox by 0.5% in the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after buying an additional 285 shares during the last quarter. Thrive Wealth Management LLC lifted its position in Roblox by 4.3% in the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares during the last quarter. Mystic Asset Management Inc. lifted its position in shares of Roblox by 4.0% during the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after purchasing an additional 325 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of Roblox by 2.3% during the second quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after purchasing an additional 400 shares in the last quarter. Finally, AlTi Global Inc. lifted its position in shares of Roblox by 8.1% during the second quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after purchasing an additional 445 shares in the last quarter. Institutional investors and hedge funds 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.