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

Roblox Corporation (NYSE:RBLX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $104.63 and last traded at $104.07, with a volume of 1905596 shares traded. The stock had previously closed at $102.09.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Mkm increased their price objective on shares of Roblox from $72.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Canaccord Genuity Group increased their price objective on shares of Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Bank of America increased their price objective on shares of Roblox from $86.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. Barclays increased their price objective on shares of Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $95.00 price objective (up from $82.00) on shares of Roblox in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.04.

Roblox Stock Up 1.2%

The company’s fifty day moving average price is $81.43 and its 200-day moving average price is $68.28. The stock has a market cap of $71.05 billion, a P/E ratio of -78.18 and a beta of 1.56. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned ($0.43) EPS. The business’s revenue was up 30.6% on a year-over-year basis. Equities analysts forecast that Roblox Corporation will post -1.49 EPS for the current year.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 229,167 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.48, for a total value of $12,026,684.16. Following the completion of the sale, the chief executive officer now directly owns 221,983 shares in the company, valued at approximately $11,649,667.84. This represents a 50.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $103.35, for a total value of $620,100.00. Following the transaction, the insider now owns 319,223 shares in the company, valued at approximately $32,991,697.05. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,423,995 shares of company stock worth $553,916,033 in the last three months. Corporate insiders own 12.92% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several large investors have recently modified their holdings of the business. Azzad Asset Management Inc. ADV purchased a new position in Roblox during the first quarter valued at approximately $280,000. NewSquare Capital LLC boosted its position in Roblox by 2.7% during 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 in the last quarter. Amundi increased its holdings in shares of Roblox by 111.4% in the 4th quarter. Amundi now owns 3,191,137 shares of the company’s stock valued at $198,010,000 after acquiring an additional 1,681,263 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Roblox by 101.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company’s stock worth $40,762,000 after acquiring an additional 355,270 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of Roblox during the 4th quarter worth $278,000. Institutional investors own 94.46% 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.