Roblox (NYSE:RBLX) Trading 1% Higher

Roblox Co. (NYSE:RBLX)’s stock price rose 1% on Friday . The company traded as high as $40.98 and last traded at $40.90. Approximately 1,145,540 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 7,330,666 shares. The stock had previously closed at $40.50.

Analysts Set New Price Targets

A number of brokerages have issued reports on RBLX. Stifel Nicolaus reissued a “buy” rating and set a $53.00 price objective on shares of Roblox in a report on Monday, April 22nd. The Goldman Sachs Group boosted 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. 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, August 2nd. BMO Capital Markets restated an “outperform” rating and set a $56.00 price target on shares of Roblox in a research report on Tuesday, July 30th. Finally, Wolfe Research assumed coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.48.

Roblox Trading Up 0.4 %

The business’s 50 day simple moving average is $38.16 and its 200-day simple moving average is $37.94. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $24.04 billion, a P/E ratio of -21.99 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its quarterly 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. The business had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the company earned ($0.46) EPS. As a group, analysts forecast that Roblox Co. will post -1.59 EPS for the current year.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total transaction of $525,850.00. Following the transaction, the director now owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $127,309.60. Following the sale, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at $3,205,759.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total value of $525,850.00. Following the transaction, the director now owns 9,708,603 shares in the company, valued at approximately $392,712,991.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 471,613 shares of company stock worth $17,411,713. 22.15% of the stock is currently owned by company insiders.

Institutional Trading of Roblox

Hedge funds have recently bought and sold shares of the stock. Swedbank AB increased its position in shares of Roblox by 0.5% during the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after acquiring an additional 285 shares in the last quarter. Thrive Wealth Management LLC boosted its stake in Roblox by 4.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after purchasing an additional 300 shares during the period. Mystic Asset Management Inc. increased its holdings in Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after purchasing an additional 325 shares in the last quarter. Center for Financial Planning Inc. raised its stake in shares of Roblox by 2.3% in the 2nd quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock valued at $659,000 after purchasing an additional 400 shares during the period. Finally, AlTi Global Inc. lifted its holdings in shares of Roblox by 8.1% in the second quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock valued at $220,000 after purchasing an additional 445 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.