Roblox (NYSE:RBLX) Shares Gap Up to $37.32

Roblox Co. (NYSE:RBLX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $37.32, but opened at $38.45. Roblox shares last traded at $38.66, with a volume of 890,585 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on RBLX shares. Morgan Stanley dropped their price target on shares of Roblox from $42.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft increased their target price on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BTIG Research dropped their price target on Roblox from $54.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Jefferies Financial Group assumed coverage on shares of Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Roblox from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.48.

Roblox Price Performance

The company has a market cap of $23.43 billion, a price-to-earnings ratio of -21.20 and a beta of 1.60. The stock has a 50 day simple moving average of $37.92 and a two-hundred day simple moving average of $37.92. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.07.

Roblox (NYSE:RBLX) last issued its 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. The company 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%. During the same period in the previous year, the firm earned ($0.46) earnings per share. Roblox’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts predict that Roblox Co. will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 transaction, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at approximately $3,205,759.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $127,309.60. Following the completion of the transaction, the chief accounting officer now directly owns 98,457 shares in the company, valued at $3,205,759.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Baszucki sold 6,585 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $214,407.60. Following the completion of the sale, the chief executive officer now owns 142,260 shares in the company, valued at approximately $4,631,985.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 471,613 shares of company stock worth $17,411,713. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RBLX. Blue Whale Capital LLP increased its holdings in Roblox by 48.0% during the 2nd quarter. Blue Whale Capital LLP now owns 1,135,000 shares of the company’s stock worth $42,233,000 after purchasing an additional 368,000 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of Roblox by 16.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 98,097 shares of the company’s stock worth $3,650,000 after buying an additional 13,590 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Roblox by 54.1% during the second quarter. Canada Pension Plan Investment Board now owns 547,571 shares of the company’s stock worth $20,375,000 after buying an additional 192,256 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Roblox by 3,850.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 58,579 shares of the company’s stock valued at $2,180,000 after acquiring an additional 57,096 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Roblox by 8.1% in the second quarter. Elo Mutual Pension Insurance Co now owns 42,546 shares of the company’s stock valued at $1,583,000 after acquiring an additional 3,182 shares in the last quarter. Hedge funds and other institutional investors 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.