Roblox (NYSE:RBLX) Stock Price Up 2.9% – Here’s Why

Roblox Co. (NYSE:RBLX) shot up 2.9% during trading on Friday . The stock traded as high as $59.00 and last traded at $59.63. 1,462,330 shares were traded during trading, a decline of 81% from the average session volume of 7,563,877 shares. The stock had previously closed at $57.92.

Wall Street Analyst Weigh In

Several research firms have commented on RBLX. HSBC began coverage on shares of Roblox in a report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup upped their price objective on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Piper Sandler reissued an “overweight” rating and issued a $72.00 price target (up from $65.00) on shares of Roblox in a report on Tuesday, January 28th. Finally, Macquarie increased their price target on shares of Roblox from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $64.19.

Roblox Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company’s 50-day moving average is $63.55 and its two-hundred day moving average is $54.70. The company has a market capitalization of $37.21 billion, a P/E ratio of -41.45 and a beta of 1.49.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Equities analysts anticipate that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 138,555 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $71.62, for a total value of $9,923,309.10. Following the transaction, the chief executive officer now owns 129,301 shares in the company, valued at approximately $9,260,537.62. This trade represents a 51.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 in the company, valued at $16,620,119.75. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 950,466 shares of company stock worth $61,646,297 over the last ninety days. Insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RBLX. Versant Capital Management Inc grew its holdings in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Colonial Trust Co SC purchased a new stake in Roblox in the fourth quarter worth $41,000. Parkside Financial Bank & Trust lifted its stake in Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after acquiring an additional 230 shares during the period. Finally, Rakuten Securities Inc. lifted its stake in Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after acquiring an additional 195 shares during the period. 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.