Roblox (NYSE:RBLX) Hits New 52-Week High - Still a Buy?

Roblox Corporation (NYSE:RBLX - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $104.63 and last traded at $104.07, with a volume of 1905596 shares. The stock had previously closed at $102.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. FBN Securities started coverage on Roblox in a research note on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price objective on the stock. Piper Sandler reiterated an "overweight" rating and set a $105.00 price objective (up from $85.00) on shares of Roblox in a research note on Thursday, June 5th. JPMorgan Chase & Co. boosted their target price on shares of Roblox from $80.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Wedbush reaffirmed a "hold" rating on shares of Roblox in a report on Monday, June 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.04.

Roblox Trading Up 1.6%

The company has a market capitalization of $70.33 billion, a price-to-earnings ratio of -77.43 and a beta of 1.56. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. The business's 50-day simple moving average is $79.58 and its 200-day simple moving average is $67.72.

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

Insider Buying and Selling

In related news, CEO David Baszucki sold 173,711 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $100.61, for a total value of $17,477,063.71. Following the completion of the sale, the chief executive officer now owns 875 shares in the company, valued at $88,033.75. This represents a 99.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew D. Kaufman sold 6,000 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $57.99, for a total value of $347,940.00. Following the sale, the insider now directly owns 364,244 shares in the company, valued at $21,122,509.56. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,417,995 shares of company stock valued at $553,295,933 over the last three months. Company insiders own 12.92% of the company's stock.

Institutional Investors Weigh In On Roblox

Several large investors have recently modified their holdings of RBLX. NewSquare Capital LLC boosted its stake in Roblox by 2.7% in the 1st quarter. NewSquare Capital LLC now owns 115,121 shares of the company's stock worth $6,710,000 after purchasing an additional 3,065 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in shares of Roblox in the first quarter valued at about $280,000. Amundi boosted its position in shares of Roblox by 111.4% during the fourth quarter. Amundi now owns 3,191,137 shares of the company's stock worth $198,010,000 after buying an additional 1,681,263 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Roblox by 101.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock worth $40,762,000 after buying an additional 355,270 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Roblox in the 4th quarter valued at approximately $278,000. 94.46% of the stock is currently 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.

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