Roblox (NYSE:RBLX) Shares Gap Up – Time to Buy?

Roblox Co. (NYSE:RBLX) gapped up prior to trading on Tuesday . The stock had previously closed at $58.29, but opened at $62.23. Roblox shares last traded at $58.83, with a volume of 3,314,647 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $71.00 price target on shares of Roblox in a research report on Tuesday, March 18th. Macquarie lifted their price target on Roblox from $71.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Moffett Nathanson downgraded Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective for the company. in a report on Friday, February 7th. Citigroup lifted their target price on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley increased their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.23.

Roblox Stock Up 1.0 %

The firm has a market cap of $38.14 billion, a price-to-earnings ratio of -42.49 and a beta of 1.49. The firm has a 50 day moving average price of $62.88 and a 200-day moving average price of $55.80. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, equities analysts forecast that Roblox Co. will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 34,099 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the sale, the chief executive officer now directly owns 221,983 shares of the company’s stock, valued at $12,664,130.15. This trade represents a 13.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony P. Lee sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the completion of the transaction, the director now directly owns 6,254,137 shares of the company’s stock, valued at approximately $406,769,070.48. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 926,466 shares of company stock valued at $60,212,297 over the last three months. 22.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in Roblox by 83.9% in the 4th 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. Gordian Capital Singapore Pte Ltd boosted its position 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 acquiring an additional 240 shares during the last quarter. Colonial Trust Co SC purchased a new stake in Roblox in the fourth quarter valued at approximately $41,000. Parkside Financial Bank & Trust increased its position in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Finally, Rakuten Securities Inc. raised its stake in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after purchasing an additional 195 shares during the period. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.