Roblox (NYSE:RBLX) Reaches New 52-Week High - Here's Why

Shares of Roblox Corporation (NYSE:RBLX - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $107.40 and last traded at $107.19, with a volume of 3322327 shares. The stock had previously closed at $103.59.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RBLX shares. Barclays upped their price target on Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. BTIG Research upped their price target on Roblox from $73.00 to $124.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Piper Sandler reissued an "overweight" rating and issued a $105.00 target price (up from $85.00) on shares of Roblox in a report on Thursday, June 5th. Canaccord Genuity Group boosted their target price on Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $95.00 target price (up from $82.00) on shares of Roblox in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $83.52.

Roblox Stock Performance

The business has a fifty day simple moving average of $88.90 and a two-hundred day simple moving average of $71.16. The company has a market cap of $71.10 billion, a P/E ratio of -78.23 and a beta of 1.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

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

Insider Buying and Selling

In related news, CEO David Baszucki sold 139,507 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the completion of the sale, the chief executive officer owned 211,559 shares in the company, valued at approximately $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,639,690 shares of company stock worth $592,114,022. 12.92% of the stock is owned by corporate insiders.

Institutional Trading of Roblox

Institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC boosted its stake in Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after buying an additional 161 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in Roblox by 1.2% during the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock valued at $775,000 after buying an additional 163 shares during the last quarter. Commerce Bank boosted its stake in Roblox by 2.7% during the first quarter. Commerce Bank now owns 7,257 shares of the company's stock valued at $423,000 after buying an additional 191 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Roblox by 6.1% in the 1st quarter. Advisors Asset Management Inc. now owns 3,323 shares of the company's stock valued at $194,000 after purchasing an additional 192 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Roblox by 25.6% in the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other 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.