Roblox (NYSE:RBLX) Shares Gap Down to $39.03

Roblox Co. (NYSE:RBLX - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $39.03, but opened at $29.92. Roblox shares last traded at $30.21, with a volume of 19,401,430 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RBLX shares. Roth Mkm reaffirmed a "buy" rating and issued a $55.00 target price on shares of Roblox in a research report on Wednesday, May 1st. Stifel Nicolaus restated a "buy" rating and issued a $53.00 price target on shares of Roblox in a research note on Monday, April 22nd. Needham & Company LLC boosted their price target on Roblox from $51.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, February 8th. Barclays raised shares of Roblox from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $26.00 to $46.00 in a research note on Thursday, February 8th. Finally, Wedbush increased their price target on shares of Roblox from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Roblox has a consensus rating of "Moderate Buy" and a consensus price target of $47.60.

Roblox Trading Down 22.1 %

The company has a market capitalization of $19.21 billion, a PE ratio of -15.96 and a beta of 1.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. The stock's fifty day moving average price is $38.00 and its two-hundred day moving average price is $39.45.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company earned ($0.48) EPS. Sell-side analysts anticipate that Roblox Co. will post -2.09 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the completion of the transaction, the chief executive officer now owns 1 shares of the company's stock, valued at $44.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael Guthrie sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $40.68, for a total value of $1,220,400.00. Following the transaction, the chief financial officer now directly owns 396,709 shares of the company's stock, valued at approximately $16,138,122.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Baszucki sold 200,000 shares of the business's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the completion of the transaction, the chief executive officer now owns 1 shares of the company's stock, valued at approximately $44.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 712,374 shares of company stock worth $29,639,338. Company insiders own 22.15% of the company's stock.

Hedge Funds Weigh In On Roblox

Several hedge funds and other institutional investors have recently modified their holdings of RBLX. Vanguard Group Inc. boosted its holdings in shares of Roblox by 29.0% in the third quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company's stock worth $1,291,414,000 after buying an additional 10,025,779 shares during the last quarter. Ieq Capital LLC increased its position in Roblox by 158.0% in the third quarter. Ieq Capital LLC now owns 9,151,748 shares of the company's stock worth $265,035,000 after buying an additional 5,604,995 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Roblox by 195.1% in the fourth quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company's stock worth $357,043,000 after buying an additional 5,162,833 shares during the period. Morgan Stanley lifted its holdings in Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company's stock valued at $1,187,769,000 after purchasing an additional 4,927,848 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Roblox in the fourth quarter worth approximately $216,194,000. 91.08% of the stock is owned by institutional investors.

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.