Roblox (NYSE:RBLX) Hits New 12-Month High – Should You Buy?

Shares of Roblox Co. (NYSE:RBLX) hit a new 52-week high during trading on Tuesday . The company traded as high as $66.86 and last traded at $65.95, with a volume of 452821 shares traded. The stock had previously closed at $65.53.

Analyst Upgrades and Downgrades

RBLX has been the topic of a number of research reports. BTIG Research upped their target price on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark increased their price objective on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Barclays increased their price target on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $57.48.

Roblox Stock Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The business has a fifty day moving average price of $57.83 and a 200 day moving average price of $48.21.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted ($0.45) EPS. The business’s revenue was up 9.5% on a year-over-year basis. Analysts predict that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other news, insider Manuel Bronstein sold 37,846 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.03, for a total value of $1,969,127.38. Following the completion of the sale, the insider now owns 674,259 shares of the company’s stock, valued at approximately $35,081,695.77. This represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anthony P. Lee sold 250,000 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $65.04, for a total transaction of $16,260,000.00. Following the transaction, the director now owns 6,254,137 shares in the company, valued at approximately $406,769,070.48. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,560,480 shares of company stock valued at $85,513,870. Corporate insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Roblox in the 3rd quarter valued at about $27,000. Frazier Financial Advisors LLC raised its stake in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after buying an additional 624 shares during the period. Versant Capital Management Inc lifted its position in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after acquiring an additional 530 shares during the period. Finally, Huntington National Bank increased its holdings in shares of Roblox by 277.0% during the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after acquiring an additional 770 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.