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

Roblox Co. (NYSE:RBLX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $53.16 and last traded at $52.33, with a volume of 710665 shares changing hands. The stock had previously closed at $52.90.

Analysts Set New Price Targets

RBLX has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wolfe Research initiated coverage on Roblox in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Jefferies Financial Group initiated coverage on Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Finally, Barclays raised their price objective on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Price Performance

The stock’s 50 day simple moving average is $43.93 and its two-hundred day simple moving average is $39.59. The stock has a market cap of $32.41 billion, a price-to-earnings ratio of -32.23 and a beta of 1.56. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million for 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 for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.45) earnings per share. On average, analysts forecast that Roblox Co. will post -1.58 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, insider Arvind Chakravarthy sold 592 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the sale, the insider now owns 276,892 shares in the company, valued at approximately $11,994,961.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Roblox news, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Arvind Chakravarthy sold 592 shares of Roblox stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total value of $25,645.44. Following the transaction, the insider now owns 276,892 shares of the company’s stock, valued at $11,994,961.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,029,373 shares of company stock valued at $46,476,179 over the last 90 days. 22.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

A number of large investors have recently added to or reduced their stakes in RBLX. DekaBank Deutsche Girozentrale lifted its position in Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after acquiring an additional 1,419 shares in the last quarter. Dragoneer Investment Group LLC increased its holdings in shares of Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Roblox by 62.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after acquiring an additional 14,348 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Roblox by 18.3% in the 1st quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock worth $11,000,000 after buying an additional 44,557 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Roblox by 319.6% during the first quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock valued at $1,075,000 after purchasing an additional 21,533 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.