Roblox (NYSE:RBLX) Trading 5.7% Higher

Shares of Roblox Co. (NYSE:RBLX) rose 5.7% during trading on Tuesday . The company traded as high as $39.47 and last traded at $39.44. Approximately 2,197,906 shares were traded during trading, a decline of 70% from the average daily volume of 7,380,454 shares. The stock had previously closed at $37.32.

Analyst Ratings Changes

RBLX has been the topic of several analyst reports. BTIG Research lowered their target price on Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Canaccord Genuity Group cut their price objective on shares of Roblox from $56.00 to $48.00 and set a “buy” rating for the company in a report on Friday, May 10th. Wells Fargo & Company boosted their target price on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $46.00 target price on shares of Roblox in a research note on Monday, July 29th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $56.00 price target on shares of Roblox in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.48.

Roblox Trading Up 3.8 %

The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.07 and a current ratio of 1.03. The stock has a fifty day moving average of $37.92 and a 200-day moving average of $37.92. The company has a market cap of $23.19 billion, a PE ratio of -21.20 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same period in the prior year, the business posted ($0.46) earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. Sell-side analysts anticipate that Roblox Co. will post -1.59 EPS for the current fiscal year.

Insider Activity

In other Roblox news, CFO Michael Guthrie sold 22,076 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $718,794.56. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $12,198,050.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Michael Guthrie sold 22,076 shares of Roblox stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $718,794.56. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $12,198,050.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 3,910 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 471,613 shares of company stock valued at $17,411,713. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently made changes to their positions in RBLX. Swedbank AB increased its holdings in shares of Roblox by 0.5% in the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after purchasing an additional 285 shares during the period. Thrive Wealth Management LLC raised its position in Roblox by 4.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after buying an additional 300 shares during the last quarter. Mystic Asset Management Inc. lifted its stake in Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock valued at $326,000 after acquiring an additional 325 shares during the period. Center for Financial Planning Inc. increased its stake in shares of Roblox by 2.3% in the second quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after acquiring an additional 400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Roblox by 0.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,996 shares of the company’s stock worth $4,297,000 after acquiring an additional 458 shares during the period. 91.08% of the stock is 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.