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

Shares of Roblox Co. (NYSE:RBLX) reached a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $46.00 to $53.00. Citigroup currently has a buy rating on the stock. Roblox traded as high as $47.75 and last traded at $47.67, with a volume of 148592 shares trading hands. The stock had previously closed at $47.11.

A number of other equities analysts also recently commented on RBLX. BTIG Research lifted their price objective on Roblox from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Jefferies Financial Group initiated coverage on shares of Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 price target on the stock. Barclays upped their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price target on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.81.

Insider Activity at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $37.82, for a total transaction of $1,134,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,168,620.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $37.82, for a total value of $1,134,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $14,168,620.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $47.75, for a total value of $620,750.00. Following the sale, the director now directly owns 9,662,103 shares in the company, valued at approximately $461,365,418.25. The disclosure for this sale can be found here. Insiders sold 792,341 shares of company stock worth $33,923,126 in the last three months. 22.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roblox

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Roblox by 15.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 442,836 shares of the company’s stock valued at $20,250,000 after purchasing an additional 59,327 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Roblox by 85.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,235 shares of the company’s stock worth $605,000 after buying an additional 6,082 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Roblox by 22.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,697 shares of the company’s stock worth $626,000 after acquiring an additional 2,487 shares in the last quarter. US Bancorp DE increased its holdings in shares of Roblox by 34.8% in the 4th quarter. US Bancorp DE now owns 65,289 shares of the company’s stock valued at $2,985,000 after acquiring an additional 16,869 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Roblox by 6.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 107,800 shares of the company’s stock worth $4,929,000 after acquiring an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Roblox Stock Down 5.8 %

The firm has a 50-day moving average price of $42.29 and a two-hundred day moving average price of $38.55. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $26.85 billion, a price-to-earnings ratio of -24.12 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued 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 business had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.46) EPS. On average, sell-side analysts forecast that Roblox Co. will post -1.59 earnings per share for the current year.

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.