Roblox (NYSE:RBLX) Hits New 1-Year High – Here’s What Happened

Roblox Co. (NYSE:RBLX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $96.45 and last traded at $95.56, with a volume of 1865505 shares changing hands. The stock had previously closed at $93.72.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RBLX. Wedbush lifted their price target on Roblox from $91.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on shares of Roblox from $63.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Canaccord Genuity Group upped their price objective on shares of Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. BMO Capital Markets reissued an “outperform” rating and set a $95.00 price objective (up from $82.00) on shares of Roblox in a report on Friday, May 30th. Finally, Wells Fargo & Company raised their price target on Roblox from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.09.

Roblox Stock Up 0.1%

The business’s 50 day moving average is $74.03 and its 200-day moving average is $65.48. The stock has a market cap of $64.57 billion, a price-to-earnings ratio of -64.84 and a beta of 1.56. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The firm’s revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) EPS. On average, sell-side analysts predict that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 6,391 shares of Roblox stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total value of $515,498.06. Following the transaction, the chief accounting officer now directly owns 73,931 shares in the company, valued at approximately $5,963,274.46. This trade represents a 7.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $57.99, for a total transaction of $347,940.00. Following the transaction, the insider now owns 364,244 shares of the company’s stock, valued at approximately $21,122,509.56. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,227,124 shares of company stock valued at $432,474,423 over the last ninety days. Insiders own 12.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC lifted its position in shares of Roblox by 320.0% during the fourth quarter. V Square Quantitative Management LLC now owns 2,587 shares of the company’s stock worth $149,000 after purchasing an additional 1,971 shares during the last quarter. Amundi increased its holdings in shares of Roblox by 111.4% during the fourth quarter. Amundi now owns 3,191,137 shares of the company’s stock valued at $198,010,000 after purchasing an additional 1,681,263 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Roblox by 101.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company’s stock valued at $40,762,000 after purchasing an additional 355,270 shares in the last quarter. NewSquare Capital LLC lifted its holdings in Roblox by 2.7% in the 1st quarter. NewSquare Capital LLC now owns 115,121 shares of the company’s stock valued at $6,710,000 after acquiring an additional 3,065 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new stake in shares of Roblox in the 4th quarter worth approximately $278,000. Institutional investors and hedge funds own 94.46% 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.