Roblox (NYSE:RBLX) Stock Price Up 4.9% - Time to Buy?

Roblox Co. (NYSE:RBLX - Get Free Report) shares rose 4.9% during mid-day trading on Tuesday . The company traded as high as $58.64 and last traded at $59.69. Approximately 743,705 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 7,843,249 shares. The stock had previously closed at $56.91.

Wall Street Analyst Weigh In

RBLX has been the subject of a number of recent research reports. CICC Research initiated coverage on shares of Roblox in a research note on Tuesday, January 14th. They set an "outperform" rating for the company. The Goldman Sachs Group upped their target price on shares of Roblox from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Piper Sandler reiterated an "overweight" rating and set a $72.00 price target (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Barclays lowered their price objective on Roblox from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Finally, Macquarie upped their price target on Roblox from $71.00 to $76.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Roblox Stock Performance

The business has a 50 day moving average of $59.28 and a 200-day moving average of $56.78. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The company has a market capitalization of $37.56 billion, a P/E ratio of -41.22 and a beta of 1.49.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, sell-side analysts predict that Roblox Co. will post -1.49 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, insider Mark Reinstra sold 24,000 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $65.89, for a total value of $1,581,360.00. Following the completion of the sale, the insider now owns 281,161 shares of the company's stock, valued at $18,525,698.29. This represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 4,468 shares of Roblox stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.34, for a total transaction of $274,067.12. Following the transaction, the chief accounting officer now directly owns 75,583 shares in the company, valued at $4,636,261.22. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 926,954 shares of company stock valued at $56,936,331. 22.15% of the stock is owned by corporate insiders.

Institutional Trading of Roblox

Several hedge funds have recently added to or reduced their stakes in RBLX. Versant Capital Management Inc boosted its holdings in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company's stock valued at $30,000 after acquiring an additional 239 shares during the period. Gordian Capital Singapore Pte Ltd increased its stake in shares of Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after buying an additional 240 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Roblox during the 1st quarter valued at $39,000. Colonial Trust Co SC bought a new stake in Roblox in the 4th quarter worth $41,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after acquiring an additional 230 shares during the period. 94.46% 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.