Roblox (NYSE:RBLX) Hits New 1-Year High – What’s Next?

Roblox Co. (NYSE:RBLX) shares hit a new 52-week high on Monday . The stock traded as high as $62.35 and last traded at $62.30, with a volume of 944469 shares changing hands. The stock had previously closed at $60.47.

Analyst Upgrades and Downgrades

RBLX has been the topic of several analyst reports. Macquarie upped their price objective on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. BTIG Research boosted their target price on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark raised their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.67.

Roblox Stock Up 1.6 %

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 company’s 50-day moving average price is $54.39 and its 200 day moving average price is $45.86. The stock has a market capitalization of $37.31 billion, a P/E ratio of -37.45 and a beta of 1.43.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned ($0.45) earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. As a group, equities analysts expect that Roblox Co. will post -1.56 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 24,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the completion of the transaction, the insider now owns 278,161 shares of the company’s stock, valued at $16,620,119.75. This represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,254,601 shares of company stock worth $65,622,735 in the last three months. 22.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

Several large investors have recently bought and sold shares of the business. Everence Capital Management Inc. bought a new stake in shares of Roblox in the 4th quarter worth about $927,000. GAMMA Investing LLC increased its stake in Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after acquiring an additional 271 shares during the last quarter. Versant Capital Management Inc raised its position in Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Roblox by 308.2% in the 3rd quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock worth $8,047,000 after purchasing an additional 137,267 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Roblox during the 3rd quarter valued at approximately $533,000. Institutional investors own 94.46% 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.