Roblox (NYSE:RBLX) Hits New 1-Year High - Here's What Happened

Roblox Co. (NYSE:RBLX - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $96.45 and last traded at $95.56, with a volume of 1865505 shares changing hands. The stock had previously closed at $93.72.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wedbush raised their price objective on Roblox from $91.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday. Needham & Company LLC reissued a "buy" rating on shares of Roblox in a research note on Friday, May 2nd. BMO Capital Markets reaffirmed an "outperform" rating and set a $95.00 price objective (up from $82.00) on shares of Roblox in a research report on Friday, May 30th. The Goldman Sachs Group increased their price objective on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Finally, Citigroup restated a "buy" rating and issued a $100.00 target price (up previously from $85.00) on shares of Roblox in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $76.09.

Roblox Trading Down 1.3%

The company has a market cap of $64.41 billion, a price-to-earnings ratio of -65.49 and a beta of 1.56. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The business's 50 day moving average price is $73.18 and its 200-day moving average price is $65.16.

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, topping analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm posted ($0.43) EPS. The company's revenue for the quarter was up 30.6% compared to the same quarter last year. On average, equities analysts anticipate that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In other news, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $57.99, for a total transaction of $347,940.00. Following the completion of the sale, the insider now directly owns 364,244 shares of the company's stock, valued at $21,122,509.56. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 1,375,002 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the sale, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at $16,024,952.77. This represents a 86.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,227,124 shares of company stock worth $432,474,423 over the last three months. 12.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RBLX. Gordian Capital Singapore Pte Ltd raised its position in Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after buying an additional 240 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock valued at $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Roblox in the first quarter valued at about $39,000. Colonial Trust Co SC bought a new position in shares of Roblox during the fourth quarter valued at about $41,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 94.46% of the company's stock.

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.