Roblox (NYSE:RBLX) Stock Price Down 6.1%

Roblox Co. (NYSE:RBLX)’s share price was down 6.1% during mid-day trading on Monday . The company traded as low as $35.30 and last traded at $36.64. Approximately 4,138,048 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 7,383,483 shares. The stock had previously closed at $39.04.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RBLX. Benchmark lifted their target price on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets reissued an “outperform” rating and set a $56.00 price objective on shares of Roblox in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Roth Mkm upped their price target on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Needham & Company LLC upped their price target on shares of Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Roblox has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Roblox Stock Down 6.4 %

The business’s 50 day moving average price is $37.48 and its 200 day moving average price is $38.06. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of -19.70 and a beta of 1.60. 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 earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,285.39%. The company had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same quarter in the previous year, the company posted ($0.46) EPS. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. On average, equities analysts forecast that Roblox Co. will post -1.66 EPS for the current year.

Insider Activity at Roblox

In other news, CFO Michael Guthrie sold 900 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $13,112,155. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Roblox news, Director Andrea L. Wong sold 5,276 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $31.13, for a total value of $164,241.88. Following the completion of the sale, the director now owns 26,319 shares in the company, valued at $819,310.47. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael Guthrie sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total value of $31,500.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $13,112,155. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 476,889 shares of company stock worth $17,575,955. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBLX. Franklin Resources Inc. raised its stake in shares of Roblox by 195.1% during the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after purchasing an additional 5,162,833 shares during the last quarter. Vanguard Group Inc. raised its position in Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after acquiring an additional 4,818,022 shares in the last quarter. Norges Bank purchased a new position in Roblox in the fourth quarter worth $216,194,000. Ieq Capital LLC raised its position in Roblox by 27.6% in the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after acquiring an additional 2,684,713 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Roblox by 836.1% in the fourth quarter. First Trust Advisors LP now owns 2,739,514 shares of the company’s stock worth $125,251,000 after acquiring an additional 2,446,867 shares in the last quarter. Hedge funds and other institutional investors 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.