Roblox (NYSE:RBLX) Reaches New 1-Year High at $47.33

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush reissued an “outperform” rating and issued a $46.00 price objective on shares of Roblox in a research note on Monday, July 29th. Macquarie lifted their target price on Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company raised their price objective on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Finally, The Goldman Sachs Group raised their price target on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and an average target price of $44.40.

Roblox Stock Performance

The business has a 50 day simple moving average of $41.20 and a two-hundred day simple moving average of $38.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. The company 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%. Roblox’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.46) earnings per share. Research analysts forecast that Roblox Co. will post -1.59 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $36.67, for a total transaction of $476,710.00. Following the transaction, the director now directly owns 9,721,603 shares of the company’s stock, valued at approximately $356,491,182.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roblox news, CFO Michael Guthrie sold 3,443 shares of Roblox stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.01, for a total value of $154,969.43. Following the transaction, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $15,881,508.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was 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 owns 9,721,603 shares in the company, valued at approximately $356,491,182.01. The disclosure for this sale can be found here. Insiders have sold 608,675 shares of company stock valued at $25,410,923 in the last quarter. Insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of large investors have recently added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of Roblox by 0.5% during the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after acquiring an additional 285 shares during the last quarter. Thrive Wealth Management LLC increased its holdings in Roblox by 4.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after purchasing an additional 300 shares during the period. Mystic Asset Management Inc. raised its position in Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock valued at $326,000 after purchasing an additional 325 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in Roblox by 2.3% in the 2nd quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after buying an additional 400 shares during the period. Finally, AlTi Global Inc. grew its position in shares of Roblox by 8.1% in the 2nd quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after buying an additional 445 shares during the last quarter. 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.