Roblox (NYSE:RBLX) Trading Up 4.9% – Here’s Why

Roblox Co. (NYSE:RBLX)’s share price was up 4.9% on Tuesday . The stock traded as high as $58.64 and last traded at $59.69. Approximately 743,705 shares were traded during trading, a decline of 91% from the average daily volume of 7,843,249 shares. The stock had previously closed at $56.91.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RBLX shares. Wedbush reissued an “outperform” rating and issued a $83.00 price target on shares of Roblox in a research note on Friday, February 7th. Oppenheimer upgraded shares of Roblox from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research report on Thursday, April 10th. Citigroup increased their price objective on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group increased their price target on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.22.

Roblox Stock Performance

The firm’s fifty day moving average price is $59.83 and its 200-day moving average price is $56.43. The company has a market cap of $37.16 billion, a P/E ratio of -40.78 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82.

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

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 229,167 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the completion of the transaction, the chief executive officer now owns 221,983 shares in the company, valued at $11,649,667.84. This trade represents a 50.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew D. Kaufman sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $57.99, for a total value of $347,940.00. Following the completion of the sale, the insider now owns 364,244 shares in the company, valued at approximately $21,122,509.56. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,232,833 shares of company stock valued at $76,827,466 over the last ninety days. 22.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

Several large investors have recently made changes to their positions in RBLX. Versant Capital Management Inc grew its stake in Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in shares of Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock valued at $32,000 after buying an additional 240 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Roblox in the first quarter valued at about $39,000. Colonial Trust Co SC bought a new stake in Roblox during the 4th quarter worth about $41,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after acquiring an additional 230 shares during 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.