Roblox (NYSE:RBLX) Sets New 12-Month High – What’s Next?

Roblox Co. (NYSE:RBLX)’s share price hit a new 52-week high on Thursday . The stock traded as high as $56.45 and last traded at $56.14, with a volume of 1795330 shares trading hands. The stock had previously closed at $54.54.

Analysts Set New Price Targets

A number of analysts have recently commented on RBLX shares. The Goldman Sachs Group boosted their target price on shares of Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Benchmark increased their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Raymond James reiterated a “strong-buy” rating and set a $60.00 price target on shares of Roblox in a research report on Friday, November 22nd. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $65.00 in a report on Monday, November 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Roblox Stock Up 7.6 %

The firm’s 50-day moving average price is $46.75 and its two-hundred day moving average price is $41.96. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $35.66 billion, a PE ratio of -35.73 and a beta of 1.50.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) EPS. As a group, equities research analysts expect that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In other news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the transaction, the chief financial officer now directly owns 352,844 shares in the company, valued at $14,643,026. The trade was a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the sale, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,038,607 shares of company stock worth $49,713,872. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Several large investors have recently bought and sold shares of the company. Baillie Gifford & Co. increased its stake in shares of Roblox by 1.9% during the 2nd 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 in the last quarter. FMR LLC grew its holdings in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after buying an additional 4,115,286 shares during the last quarter. ARK Investment Management LLC grew its holdings in Roblox by 12.9% during the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after buying an additional 1,519,591 shares during the last quarter. Dragoneer Investment Group LLC increased its position 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 buying an additional 2,488,044 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after acquiring an additional 240,565 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.