Roblox (NYSE:RBLX) Sets New 12-Month High - Time to Buy?

Roblox Corporation (NYSE:RBLX - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $110.45 and last traded at $110.64, with a volume of 2467481 shares traded. The stock had previously closed at $105.69.

Wall Street Analyst Weigh In

A number of research firms recently commented on RBLX. The Goldman Sachs Group increased their price target on Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Roth Mkm increased their price target on Roblox from $72.00 to $74.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Bank of America increased their price target on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Wedbush upgraded Roblox to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Piper Sandler restated an "overweight" rating and issued a $105.00 target price (up previously from $85.00) on shares of Roblox in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.45.

Roblox Stock Up 5.9%

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. The firm has a market cap of $75.91 billion, a PE ratio of -83.52 and a beta of 1.60. The stock has a fifty day simple moving average of $92.61 and a two-hundred day simple moving average of $72.82.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) EPS. As a group, sell-side analysts expect that Roblox Corporation will post -1.49 EPS for the current fiscal year.

Insider Activity

In related news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total value of $6,856,740.00. Following the transaction, the director owned 284,488 shares of the company's stock, valued at $29,555,458.32. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Baszucki sold 139,507 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the completion of the transaction, the chief executive officer directly owned 211,559 shares in the company, valued at approximately $22,253,891.21. This represents a 39.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,645,690 shares of company stock worth $592,729,502. 12.92% of the stock is currently owned by insiders.

Institutional Trading of Roblox

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock worth $3,359,854,000 after buying an additional 4,400,624 shares during the last quarter. FMR LLC lifted its position in Roblox by 89.4% in the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after buying an additional 18,715,837 shares during the last quarter. Ieq Capital LLC lifted its position in Roblox by 13.8% in the 1st quarter. Ieq Capital LLC now owns 18,889,973 shares of the company's stock worth $1,101,097,000 after buying an additional 2,297,350 shares during the last quarter. AQR Capital Management LLC lifted its position in Roblox by 217.4% in the first quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company's stock valued at $504,387,000 after purchasing an additional 6,007,322 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Roblox by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company's stock valued at $495,564,000 after purchasing an additional 246,610 shares during the last quarter. Institutional investors 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.