Roblox (NYSE:RBLX) Reaches New 52-Week High – What’s Next?

Roblox Co. (NYSE:RBLX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $51.15 and last traded at $48.70, with a volume of 3573876 shares. The stock had previously closed at $43.14.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Roth Mkm raised their price target on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BTIG Research increased their price objective on shares of Roblox from $47.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, Piper Sandler increased their price objective on shares of Roblox from $48.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average price target of $46.75.

Roblox Trading Up 17.3 %

The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $30.28 billion, a PE ratio of -28.70 and a beta of 1.60. The company’s fifty day simple moving average is $43.36 and its 200-day simple moving average is $39.15.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. The business had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts expect that Roblox Co. will post -1.57 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 166,668 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $42.15, for a total value of $7,025,056.20. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at approximately $5,722,073.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO David Baszucki sold 166,668 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $42.15, for a total value of $7,025,056.20. Following the transaction, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at approximately $5,722,073.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Arvind Chakravarthy sold 592 shares of Roblox stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the transaction, the insider now directly owns 276,892 shares in the company, valued at $11,994,961.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 779,341 shares of company stock valued at $33,831,012. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Roblox by 10.4% during the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after purchasing an additional 4,818,022 shares during the period. Baillie Gifford & Co. raised its stake in Roblox by 1.9% during the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after purchasing an additional 535,414 shares during the period. ARK Investment Management LLC raised its stake in Roblox by 12.9% during the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after purchasing an additional 1,519,591 shares during the period. Ieq Capital LLC raised its stake in Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after purchasing an additional 2,684,713 shares during the period. Finally, Dragoneer Investment Group LLC raised its stake in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.