Roblox (NYSE:RBLX) Hits New 12-Month High - What's Next?

Roblox Co. (NYSE:RBLX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $63.71 and last traded at $63.55, with a volume of 340122 shares. The stock had previously closed at $62.26.

Analyst Ratings Changes

RBLX has been the topic of a number of recent analyst reports. Benchmark upped their target price on shares of Roblox from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Needham & Company LLC upped their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, November 1st. CICC Research began coverage on shares of Roblox in a report on Tuesday. They issued an "outperform" rating for the company. Canaccord Genuity Group upped their price target on Roblox from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group raised their price target on Roblox from $45.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Roblox currently has a consensus rating of "Moderate Buy" and an average price target of $56.62.

Roblox Stock Performance

The firm has a 50 day moving average of $56.39 and a two-hundred day moving average of $47.12. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $38.69 billion, a PE ratio of -38.84 and a beta of 1.43.

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

Insiders Place Their Bets

In other Roblox news, Director Anthony P. Lee sold 200,000 shares of the firm's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares of the company's stock, valued at approximately $236,932,451.07. This trade represents a 4.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares of the company's stock, valued at $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,254,601 shares of company stock valued at $65,622,735. 22.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of Roblox in the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its stake 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 buying an additional 624 shares during the period. Versant Capital Management Inc raised its position in Roblox by 83.9% during the 4th 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. GAMMA Investing LLC lifted its stake in shares of Roblox by 132.8% in 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 boosted its holdings in shares of Roblox by 277.0% in the third quarter. Huntington National Bank now owns 1,048 shares of the company's stock valued at $46,000 after acquiring an additional 770 shares in the last quarter. Institutional investors and hedge funds 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.