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

Roblox Co. (NYSE:RBLX)’s stock price reached a new 52-week high 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.

RBLX has been the topic of several other reports. Canaccord Genuity Group raised their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their target price on Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Finally, Morgan Stanley boosted their target price on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.05.

Insider Activity

In related news, CEO David Baszucki sold 138,555 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total value of $9,923,309.10. Following the completion of the sale, the chief executive officer now directly owns 129,301 shares in the company, valued at $9,260,537.62. This represents a 51.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anthony P. Lee sold 25,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $52.34, for a total value of $1,308,500.00. Following the completion of the sale, the director now directly owns 5,731,695 shares of the company’s stock, valued at $299,996,916.30. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,306,335 shares of company stock valued at $77,348,316. 22.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Roblox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in Roblox during the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC boosted its holdings in 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 lifted 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 buying an additional 239 shares during the period. GAMMA Investing LLC boosted its stake in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Roblox by 277.0% in the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after purchasing an additional 770 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Stock Up 2.5 %

The firm has a market cap of $44.03 billion, a P/E ratio of -44.15 and a beta of 1.43. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company’s 50 day simple moving average is $60.77 and its 200-day simple moving average is $49.91.

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.