Roblox (NYSE:RBLX) Sees Large Volume Increase (2024)

Roblox Co. (NYSE:RBLX - Get Free Report) saw an uptick in trading volume on Thursday . 5,021,608 shares traded hands during mid-day trading, a decline of 32% from the previous session's volume of 7,331,133 shares.The stock last traded at $39.94 and had previously closed at $41.52.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RBLX. Macquarie assumed coverage on Roblox in a research note on Friday, June 14th. They issued an "outperform" rating and a $46.00 target price on the stock. Morgan Stanley cut their price target on Roblox from $42.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, May 10th. Jefferies Financial Group assumed coverage on Roblox in a report on Thursday, July 11th. They issued a "hold" rating and a $42.00 price target for the company. Roth Capital downgraded Roblox from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 14th. Finally, Barclays dropped their price objective on Roblox from $46.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, May 10th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.91.

Get Our Latest Stock Analysis on RBLX

Roblox Stock Down 6.4 %

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 16.04. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of -20.89 and a beta of 1.59. The stock's 50 day moving average is $37.35 and its 200 day moving average is $38.08.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.43) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.10. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The business had revenue of $923.76 million for the quarter, compared to analyst estimates of $918.85 million. During the same quarter last year, the business earned ($0.44) earnings per share. The business's revenue for the quarter was up 19.4% on a year-over-year basis. Analysts forecast that Roblox Co. will post -1.66 EPS for the current year.

Insider Activity at Roblox

In related news, insider Arvind Chakravarthy sold 18,165 shares of the firm's stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $591,452.40. Following the completion of the sale, the insider now directly owns 322,966 shares in the company, valued at $10,515,772.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Arvind Chakravarthy sold 18,165 shares of the firm's stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $591,452.40. Following the completion of the sale, the insider now directly owns 322,966 shares in the company, valued at $10,515,772.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Baszucki sold 13,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the sale, the director now owns 9,708,603 shares of the company's stock, valued at $392,712,991.35. The disclosure for this sale can be found here. Insiders have sold 476,889 shares of company stock worth $17,575,955 over the last quarter. 22.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roblox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in Roblox by 3,188.8% in the 4th quarter. International Assets Investment Management LLC now owns 84,719 shares of the company's stock worth $3,873,000 after purchasing an additional 82,143 shares during the period. Kodai Capital Management LP purchased a new stake in Roblox in the 4th quarter worth approximately $6,805,000. Global Retirement Partners LLC lifted its position in Roblox by 7.8% in the 4th quarter. Global Retirement Partners LLC now owns 4,423 shares of the company's stock worth $202,000 after buying an additional 320 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new stake in Roblox in the 4th quarter worth approximately $1,660,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Roblox by 40.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 156,117 shares of the company's stock worth $7,138,000 after buying an additional 45,237 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

Roblox Company Profile

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Roblox
• 3 Grocery Stocks That Are Proving They Are Still Essential
• First Solar Stock: The Dawn of a New Rally in Share Prices
• Which Wall Street Analysts are the Most Accurate?
• Mastercard Stock's Q2 Financial Results Outshine Competitors
• Top Stocks Investing in 5G Technology
• Tobacco Giant's Shares Fall on EPS Miss, Lackluster Pouch Gains

Should you invest $1,000 in Roblox right now?

Before you consider Roblox, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Roblox wasn't on the list.

While Roblox currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here