Roblox (NYSE:RBLX) Hits New 52-Week High – Should You Buy?

Shares of Roblox Co. (NYSE:RBLX) reached 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 traded. The stock had previously closed at $60.47.

Analyst Ratings Changes

RBLX has been the topic of several recent analyst reports. Citigroup increased their price target on shares of Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. BTIG Research boosted their price target on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $65.00 in a report on Monday, November 4th. Finally, Macquarie lifted their target price on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.67.

Roblox Trading Down 1.0 %

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The company’s fifty day moving average price is $55.15 and its two-hundred day moving average price is $46.22. The firm has a market cap of $37.23 billion, a PE ratio of -37.37 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 analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned ($0.45) earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amy Marie Rawlings sold 2,186 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the sale, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Manuel Bronstein sold 37,846 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.03, for a total transaction of $1,969,127.38. Following the completion of the transaction, the insider now directly owns 674,259 shares of the company’s stock, valued at approximately $35,081,695.77. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,254,601 shares of company stock valued at $65,622,735 over the last quarter. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Roblox during the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC lifted its position in shares of Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 624 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 acquiring an additional 239 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox during the second quarter valued at $33,000. Finally, GAMMA Investing LLC raised its stake in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares during the last quarter. Institutional investors and hedge funds own 94.46% 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.