Roblox (NYSE:RBLX) Hits New 1-Year High on Analyst Upgrade

Roblox Co. (NYSE:RBLX)’s stock price reached a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $63.00 to $82.00. Citigroup currently has a buy rating on the stock. Roblox traded as high as $72.77 and last traded at $72.27, with a volume of 1095252 shares changing hands. The stock had previously closed at $70.68.

A number of other research analysts have also recently issued reports on RBLX. JPMorgan Chase & Co. lifted their target price on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Canaccord Genuity Group upped their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush restated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 price target (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Finally, Benchmark boosted their price objective on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Seven investment 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. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average price target of $60.05.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 3,601 shares of Roblox stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $49.32, for a total value of $177,601.32. Following the sale, the chief accounting officer now owns 81,407 shares of the company’s stock, valued at approximately $4,014,993.24. This trade represents a 4.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 16,480 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total transaction of $847,566.40. Following the transaction, the insider now directly owns 278,161 shares of the company’s stock, valued at $14,305,820.23. This represents a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,306,335 shares of company stock worth $77,348,316 in the last 90 days. Corporate insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RBLX. Simon Quick Advisors LLC grew its stake 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 valued at $284,000 after buying an additional 217 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Versant Capital Management Inc increased its position in Roblox by 83.9% during 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. Impact Partnership Wealth LLC raised its stake in Roblox by 3.8% in the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock valued at $298,000 after buying an additional 245 shares during the period. Finally, Yousif Capital Management LLC lifted its position in shares of Roblox by 3.8% in the fourth quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock valued at $386,000 after buying an additional 245 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

The business has a fifty day moving average of $61.79 and a two-hundred day moving average of $50.32. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $45.97 billion, a price-to-earnings ratio of -46.13 and a beta of 1.46.

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.