Roblox (NYSE:RBLX) Stock Price Up 2.9% – Here’s Why

Roblox Co. (NYSE:RBLX)’s stock price rose 2.9% during trading on Friday . The stock traded as high as $59.00 and last traded at $59.63. Approximately 1,462,330 shares traded hands during trading, a decline of 81% from the average daily volume of 7,563,877 shares. The stock had previously closed at $57.92.

Analyst Upgrades and Downgrades

RBLX has been the topic of several recent research reports. Citigroup lifted their target price on shares of Roblox from $63.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Piper Sandler restated an “overweight” rating and issued a $72.00 price target (up previously from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Benchmark restated a “buy” rating and issued a $71.00 price target on shares of Roblox in a research report on Tuesday. HSBC assumed coverage on shares of Roblox in a research report on Thursday, December 12th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average target price of $64.19.

Roblox Stock Up 3.8 %

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 firm has a market cap of $37.21 billion, a P/E ratio of -41.45 and a beta of 1.49. The stock’s 50 day simple moving average is $63.55 and its 200 day simple moving average is $54.70.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Research analysts anticipate that Roblox Co. will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In related news, CAO Amy Marie Rawlings sold 5,879 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the completion of the transaction, the chief accounting officer now owns 75,528 shares in the company, valued at approximately $4,909,320. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 34,099 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $57.05, for a total transaction of $1,945,347.95. Following the transaction, the chief executive officer now owns 221,983 shares of the company’s stock, valued at approximately $12,664,130.15. The trade was a 13.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 950,466 shares of company stock worth $61,646,297 in the last quarter. 22.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently added to or reduced their stakes in RBLX. Victory Capital Management Inc. grew its position in Roblox by 1.9% during the third quarter. Victory Capital Management Inc. now owns 164,035 shares of the company’s stock valued at $7,260,000 after buying an additional 3,114 shares during the period. Oppenheimer & Co. Inc. grew its position in Roblox by 5.0% during the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after buying an additional 321 shares during the period. CIBC Asset Management Inc grew its position in Roblox by 5.4% during the third quarter. CIBC Asset Management Inc now owns 20,321 shares of the company’s stock valued at $899,000 after buying an additional 1,035 shares during the period. Empowered Funds LLC grew its position in Roblox by 10.8% during the third quarter. Empowered Funds LLC now owns 7,889 shares of the company’s stock valued at $349,000 after buying an additional 767 shares during the period. Finally, Quest Partners LLC purchased a new stake in Roblox during the third quarter valued at about $103,000. 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.