Roblox (NYSE:RBLX) Trading 4.9% Higher - What's Next?

Roblox Co. (NYSE:RBLX - Get Free Report)'s stock price was up 4.9% during trading on Tuesday . The company traded as high as $58.64 and last traded at $59.69. Approximately 743,705 shares changed hands 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 Analysts Forecast Growth

A number of brokerages have commented on RBLX. Citigroup raised their price target on shares of Roblox from $63.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Piper Sandler reiterated an "overweight" rating and issued a $72.00 price target (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, January 10th. Benchmark restated a "buy" rating and issued a $71.00 target price on shares of Roblox in a research note on Tuesday, March 18th. Finally, Barclays dropped their target price on shares of Roblox from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $64.00.

Roblox Stock Up 1.1 %

The stock has a market capitalization of $37.56 billion, a P/E ratio of -41.22 and a beta of 1.49. The firm's 50-day simple moving average is $59.28 and its 200 day simple moving average is $56.68. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) 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 expect that Roblox Co. will post -1.49 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 229,167 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the sale, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at approximately $11,649,667.84. This represents a 50.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 26,154 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the sale, the chief financial officer now directly owns 417,079 shares of the company's stock, valued at $27,502,189.26. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 926,954 shares of company stock worth $56,936,331 in the last quarter. Corporate insiders own 22.15% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBLX. Versant Capital Management Inc raised its holdings in shares of 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 in the last quarter. Gordian Capital Singapore Pte Ltd grew its position in 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 acquiring an additional 240 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Roblox during the first quarter worth about $39,000. Colonial Trust Co SC bought a new position in shares of Roblox in the fourth quarter worth about $41,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after purchasing an additional 230 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.