Roblox (NYSE:RBLX) Reaches New 52-Week High – Time to Buy?

Roblox Co. (NYSE:RBLX) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $100.76 and last traded at $100.43, with a volume of 9312259 shares traded. The stock had previously closed at $97.17.

Wall Street Analysts Forecast Growth

RBLX has been the topic of a number of research reports. Roth Mkm raised their target price on shares of Roblox from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Wedbush reaffirmed a “hold” rating on shares of Roblox in a research report on Monday. Wells Fargo & Company raised their target price on Roblox from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Morgan Stanley lowered their price objective on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, Canaccord Genuity Group boosted their target price on shares of Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen 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 price target of $76.09.

Roblox Price Performance

The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The company’s fifty day moving average price is $75.95 and its 200 day moving average price is $66.40. The firm has a market capitalization of $68.12 billion, a price-to-earnings ratio of -69.26 and a beta of 1.56.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. The firm had revenue of $1.04 billion for 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%. Roblox’s revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.43) earnings per share. Equities research analysts expect that Roblox Co. will post -1.49 earnings per share for the current year.

Insider Activity at Roblox

In related news, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $57.99, for a total value of $347,940.00. Following the sale, the insider now directly owns 364,244 shares in the company, valued at $21,122,509.56. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Baszucki sold 60,047 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.97, for a total transaction of $5,762,710.59. Following the completion of the transaction, the chief executive officer now owns 211,559 shares of the company’s stock, valued at approximately $20,303,317.23. This trade represents a 22.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,253,072 shares of company stock worth $436,291,786 in the last 90 days. 12.92% of the stock is currently owned by company insiders.

Institutional Trading of Roblox

Several hedge funds have recently added to or reduced their stakes in RBLX. MetLife Investment Management LLC raised its stake in shares of Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock valued at $1,873,000 after purchasing an additional 161 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Roblox by 1.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company’s stock worth $775,000 after buying an additional 163 shares in the last quarter. Commerce Bank lifted its stake in shares of Roblox by 2.7% in the 1st quarter. Commerce Bank now owns 7,257 shares of the company’s stock worth $423,000 after acquiring an additional 191 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Roblox by 6.1% in the first quarter. Advisors Asset Management Inc. now owns 3,323 shares of the company’s stock valued at $194,000 after acquiring an additional 192 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in shares of Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after acquiring an additional 195 shares in the last quarter. Institutional investors 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.