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

Roblox Co. (NYSE:RBLX)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $61.05 and last traded at $60.39, with a volume of 2079302 shares changing hands. The stock had previously closed at $59.89.

Analysts Set New Price Targets

RBLX has been the subject of a number of recent research reports. Barclays boosted their target price on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price objective on shares of Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Macquarie increased their target price on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.67.

Roblox Stock Down 0.0 %

The company’s fifty day simple moving average is $48.88 and its 200 day simple moving average is $43.16. The firm has a market capitalization of $36.21 billion, a P/E ratio of -36.34 and a beta of 1.50. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

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

Insider Buying and Selling at Roblox

In other Roblox news, insider Manuel Bronstein sold 44,888 shares of Roblox stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total value of $2,693,728.88. Following the sale, the insider now directly owns 573,266 shares in the company, valued at approximately $34,401,692.66. The trade was a 7.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at approximately $14,643,026. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,457,267 shares of company stock valued at $74,422,648 over the last ninety days. 22.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

Several large investors have recently made changes to their positions in RBLX. Wilmington Savings Fund Society FSB purchased a new position in Roblox during the 3rd quarter valued at approximately $533,000. World Investment Advisors LLC bought a new stake in Roblox in the third quarter worth $204,000. Virtu Financial LLC purchased a new stake in Roblox during the third quarter valued at $2,341,000. Toronto Dominion Bank raised its stake in Roblox by 34.3% during the third quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock valued at $2,660,000 after purchasing an additional 15,333 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Roblox by 5.2% during the third quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock valued at $368,003,000 after purchasing an additional 408,915 shares during the last quarter. 94.46% of the stock is owned by 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.