Roblox (NYSE:RBLX) Reaches New 1-Year High - Time to Buy?

Shares of Roblox Co. (NYSE:RBLX - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $53.16 and last traded at $52.33, with a volume of 710665 shares trading hands. The stock had previously closed at $52.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research boosted their price objective 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. Needham & Company LLC boosted their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Macquarie boosted their price target on shares of Roblox from $50.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Barclays boosted their price target on shares of Roblox from $40.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Finally, Raymond James boosted their price target on shares of Roblox from $51.00 to $60.00 and gave the company a "strong-buy" rating in a research report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.30.

Roblox Trading Up 0.4 %

The stock's fifty day moving average price is $44.11 and its 200 day moving average price is $39.68. 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 stock has a market cap of $32.27 billion, a PE ratio of -32.61 and a beta of 1.56.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm had revenue of $919.00 million for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the company posted ($0.45) earnings per share. The business's revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts forecast that Roblox Co. will post -1.58 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael Guthrie sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the sale, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Roblox news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares in the company, valued at $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,029,373 shares of company stock worth $46,476,179. 22.15% of the stock is owned by insiders.

Institutional Trading of Roblox

Several institutional investors and hedge funds have recently modified their holdings of the company. Pathstone Holdings LLC raised its position in shares of Roblox by 7.2% during the 3rd quarter. Pathstone Holdings LLC now owns 88,296 shares of the company's stock valued at $3,908,000 after purchasing an additional 5,898 shares during the period. Quest Partners LLC bought a new stake in Roblox in the 3rd quarter valued at $103,000. Swiss National Bank increased its holdings in Roblox by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,403,900 shares of the company's stock valued at $62,137,000 after acquiring an additional 3,600 shares during the last quarter. Frazier Financial Advisors LLC increased its holdings in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company's stock valued at $28,000 after acquiring an additional 624 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Roblox by 10.8% in the 3rd quarter. Empowered Funds LLC now owns 7,889 shares of the company's stock valued at $349,000 after acquiring an additional 767 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

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.