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

Shares of Roblox Co. (NYSE:RBLX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $66.86 and last traded at $65.95, with a volume of 452821 shares trading hands. The stock had previously closed at $65.53.

Analyst Ratings Changes

A number of research firms recently commented on RBLX. JPMorgan Chase & Co. raised their price target on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. CICC Research began coverage on shares of Roblox in a research report on Tuesday, January 14th. They issued an “outperform” rating for the company. Piper Sandler boosted their price target on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group upped their target price on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.48.

Roblox Trading Down 0.2 %

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm’s 50 day moving average is $57.83 and its two-hundred day moving average is $48.21.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. The company 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 quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. As a group, sell-side analysts predict that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $42.15, for a total value of $7,025,056.20. Following the completion of the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at approximately $5,722,073.25. The trade was a 55.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total value of $494,400.00. Following the transaction, the chief financial officer now owns 352,844 shares in the company, valued at $17,444,607.36. The trade was a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,560,480 shares of company stock worth $85,513,870. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of large investors have recently bought and sold shares of RBLX. ValueAct Holdings L.P. boosted its position in shares of Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after purchasing an additional 7,835,921 shares in the last quarter. FMR LLC boosted its holdings in Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares in the last quarter. Dragoneer Investment Group LLC grew its stake in Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Roblox during the third quarter valued at approximately $107,491,000. Finally, Greenvale Capital LLP bought a new stake in shares of Roblox during the second quarter valued at approximately $89,304,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.