Roblox (NYSE:RBLX) Trading Up 4.5%

Roblox Co. (NYSE:RBLX) shot up 4.5% during trading on Wednesday . The stock traded as high as $37.05 and last traded at $37.03. 3,580,691 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 7,775,421 shares. The stock had previously closed at $35.43.

Analysts Set New Price Targets

Several brokerages have commented on RBLX. Moffett Nathanson upgraded shares of Roblox from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $31.00 to $26.00 in a report on Friday, May 10th. Roth Mkm restated a “neutral” rating and issued a $35.00 price objective (down from $55.00) on shares of Roblox in a report on Tuesday, May 14th. Morgan Stanley decreased their price objective on shares of Roblox from $42.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Roth Capital lowered shares of Roblox from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Canaccord Genuity Group decreased their price objective on shares of Roblox from $56.00 to $48.00 and set a “buy” rating for the company in a report on Friday, May 10th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average target price of $42.14.

Roblox Trading Up 0.1 %

The company’s 50-day moving average is $34.97 and its 200 day moving average is $38.80. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.10. The company had revenue of $923.76 million for the quarter, compared to the consensus estimate of $918.85 million. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. Roblox’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.44) EPS. On average, analysts forecast that Roblox Co. will post -1.67 EPS for the current year.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $127,309.60. Following the transaction, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at $3,205,759.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roblox news, CAO Amy Marie Rawlings sold 3,910 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $127,309.60. Following the completion of the sale, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at $3,205,759.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $36.06, for a total value of $1,081,800.00. Following the completion of the transaction, the chief financial officer now directly owns 396,709 shares in the company, valued at approximately $14,305,326.54. The disclosure for this sale can be found here. Insiders have sold a total of 401,221 shares of company stock valued at $14,252,675 in the last 90 days. 22.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Roblox during the fourth quarter valued at approximately $25,000. Washington Trust Advisors Inc. bought a new stake in shares of Roblox during the first quarter valued at approximately $39,000. Blue Trust Inc. raised its position in shares of Roblox by 566.5% during the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after buying an additional 912 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Roblox during the first quarter valued at approximately $52,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Roblox by 306.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,483 shares of the company’s stock valued at $56,000 after buying an additional 1,118 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

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.