Roblox (NYSE:RBLX) Sets New 12-Month High – Here’s Why

Shares of Roblox Co. (NYSE:RBLX) hit a new 52-week high during trading on Monday . The company traded as high as $62.35 and last traded at $62.30, with a volume of 944469 shares trading hands. The stock had previously closed at $60.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. The Goldman Sachs Group increased their price target on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. BTIG Research lifted their price objective on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup increased their target price on shares of Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.67.

Roblox Trading Up 1.6 %

The firm has a market cap of $37.31 billion, a price-to-earnings ratio of -37.45 and a beta of 1.43. The firm’s 50-day moving average is $54.39 and its 200-day moving average is $45.86. 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 issued its quarterly earnings data 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. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company earned ($0.45) earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Roblox Co. will post -1.56 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 166,668 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the completion of the transaction, the chief executive officer now owns 135,755 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction that occurred on 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 directly owns 91,062 shares in the company, valued at $4,817,179.80. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,254,601 shares of company stock valued at $65,622,735 over the last ninety days. 22.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roblox

A number of large investors have recently modified their holdings of the company. FMR LLC lifted its holdings in Roblox by 24.5% in the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after buying an additional 4,115,286 shares during the period. Dragoneer Investment Group LLC increased its holdings in shares of Roblox by 26.9% during 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 in the last quarter. State Street Corp raised its position in shares of Roblox by 2.3% in the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after purchasing an additional 240,565 shares during the last quarter. ValueAct Holdings L.P. boosted its stake in Roblox by 340.7% in 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. Finally, Geode Capital Management LLC grew its position in Roblox by 5.2% during the 3rd 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 hedge funds and other institutional investors.

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.