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

Roblox Co. (NYSE:RBLX)’s share price gapped up before the market opened 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.

Wall Street Analyst Weigh In

RBLX has been the subject of a number of recent analyst reports. Barclays upgraded shares of Roblox from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $26.00 to $46.00 in a research report on Thursday, February 8th. BMO Capital Markets raised their target price on Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Needham & Company LLC increased their target price on shares of Roblox from $51.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Wedbush lifted 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. Finally, Benchmark reissued a “buy” rating and issued a $50.00 target price on shares of Roblox in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average price target of $47.60.

Roblox Trading Up 5.2 %

The business has a 50 day moving average price of $39.15 and a 200-day moving average price of $38.97. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of -19.88 and a beta of 1.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64.

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

Insider Buying and Selling at Roblox

In related news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $36.06, for a total value of $1,081,800.00. Following the completion of the sale, the chief financial officer now owns 396,709 shares in the company, valued at $14,305,326.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $36.06, for a total transaction of $1,081,800.00. Following the completion of the transaction, the chief financial officer now owns 396,709 shares in the company, valued at approximately $14,305,326.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Reinstra sold 12,531 shares of Roblox stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total transaction of $510,638.25. Following the sale, the insider now owns 249,779 shares in the company, valued at $10,178,494.25. The disclosure for this sale can be found here. Insiders have sold a total of 707,707 shares of company stock valued at $29,526,367 in the last three months. Corporate insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Roblox by 29.0% during the third quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after acquiring an additional 10,025,779 shares during the period. Ieq Capital LLC raised its holdings in shares of Roblox by 158.0% in the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock worth $265,035,000 after purchasing an additional 5,604,995 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Roblox by 195.1% in the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after purchasing an additional 5,162,833 shares in the last quarter. Morgan Stanley lifted its stake in Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after purchasing an additional 4,927,848 shares during the last quarter. Finally, Norges Bank bought a new stake in Roblox during the fourth quarter worth approximately $216,194,000. Institutional investors and hedge funds own 91.08% 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.