Roblox (NYSE:RBLX) Shares Gap Up to $34.96

Roblox Co. (NYSE:RBLX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $34.96, but opened at $36.42. Roblox shares last traded at $37.35, with a volume of 2,530,168 shares changing hands.

Wall Street Analyst Weigh In

RBLX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised Roblox from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $48.00 in a report on Tuesday. Needham & Company LLC lifted their price target on Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Wedbush boosted their price objective on Roblox from $53.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Barclays raised Roblox from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $46.00 in a report on Thursday, February 8th. Finally, Roth Mkm boosted their price objective on Roblox from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Roblox Price Performance

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. The company has a 50-day moving average price of $38.84 and a 200-day moving average price of $38.99.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned ($0.48) EPS. Roblox’s quarterly revenue was up 25.3% compared to the same quarter last year. Equities analysts forecast that Roblox Co. will post -2.1 EPS for the current year.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the transaction, the chief accounting officer now directly owns 96,125 shares in the company, valued at approximately $3,906,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roblox news, CTO Daniel Sturman sold 7,762 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $315,447.68. Following the completion of the transaction, the chief technology officer now owns 492,026 shares of the company’s stock, valued at approximately $19,995,936.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 3,777 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the transaction, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The disclosure for this sale can be found here. In the last three months, insiders sold 699,374 shares of company stock worth $29,183,298. 22.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roblox

A number of large investors have recently bought and sold shares of RBLX. Allspring Global Investments Holdings LLC bought a new stake in shares of Roblox during the 4th quarter worth approximately $25,000. Blue Trust Inc. raised its stake in shares of Roblox by 566.5% during the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock worth $49,000 after purchasing an additional 912 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Roblox during the 1st quarter worth approximately $52,000. Allworth Financial LP raised its stake in shares of Roblox by 90.2% during the 4th quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock worth $57,000 after purchasing an additional 587 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of Roblox during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 91.08% 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.