Roblox (NYSE:RBLX) Stock Price Up 7.6% – Here’s What Happened

Roblox Corporation (NYSE:RBLX)’s share price traded up 7.6% during trading on Tuesday . The company traded as high as $81.71 and last traded at $82.5650. 4,944,440 shares changed hands during trading, a decline of 51% from the average session volume of 10,112,715 shares. The stock had previously closed at $76.72.

Analysts Set New Price Targets

RBLX has been the topic of a number of research analyst reports. Macquarie boosted their price objective on shares of Roblox from $158.00 to $164.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. cut shares of Roblox from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $100.00 in a research report on Friday, December 12th. UBS Group set a $155.00 price target on shares of Roblox in a research note on Tuesday. The Goldman Sachs Group raised Roblox from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $155.00 to $180.00 in a research report on Friday, October 31st. Finally, Raymond James Financial restated an “outperform” rating and issued a $165.00 target price (up previously from $155.00) on shares of Roblox in a research note on Tuesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average target price of $134.23.

Roblox Trading Up 10.1%

The company has a market cap of $55.34 billion, a P/E ratio of -59.29 and a beta of 1.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54. The stock’s 50 day moving average is $90.40 and its 200-day moving average is $112.57.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.07. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned ($0.37) earnings per share. The business’s revenue for the quarter was up 70.3% compared to the same quarter last year. Research analysts anticipate that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In related news, Director Anthony P. Lee sold 59,000 shares of Roblox stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $79.96, for a total value of $4,717,640.00. Following the completion of the sale, the director directly owned 257,258 shares in the company, valued at approximately $20,570,349.68. This trade represents a 18.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 16,782 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $95.24, for a total value of $1,598,317.68. Following the completion of the transaction, the insider directly owned 370,532 shares of the company’s stock, valued at approximately $35,289,467.68. This trade represents a 4.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 497,300 shares of company stock worth $45,713,286. Insiders own 12.92% of the company’s stock.

Institutional Trading of Roblox

A number of large investors have recently made changes to their positions in the stock. WPG Advisers LLC grew its position in Roblox by 17.8% in the 3rd quarter. WPG Advisers LLC now owns 555 shares of the company’s stock worth $77,000 after purchasing an additional 84 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Roblox by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after buying an additional 102 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after acquiring an additional 105 shares during the period. Lido Advisors LLC increased its position in Roblox by 1.3% during the second quarter. Lido Advisors LLC now owns 8,529 shares of the company’s stock valued at $897,000 after acquiring an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Roblox by 2.8% during the third quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock valued at $560,000 after acquiring an additional 110 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.