Roblox Co. (NYSE:RBLX) Short Interest Update

Roblox Co. (NYSE:RBLX) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 26,970,000 shares, a decrease of 16.8% from the October 15th total of 32,430,000 shares. Approximately 5.1% of the company’s stock are sold short. Based on an average trading volume of 7,700,000 shares, the short-interest ratio is currently 3.5 days.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Morgan Stanley upgraded shares of Roblox from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $38.00 to $65.00 in a research note on Monday, November 4th. Needham & Company LLC lifted their target price on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark raised their target price on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BTIG Research upped their price objective on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Insider Buying and Selling

In other Roblox news, insider Mark Reinstra sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $40.47, for a total value of $687,990.00. Following the completion of the sale, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,867,288.32. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Arvind Chakravarthy sold 592 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the sale, the insider now owns 276,892 shares of the company’s stock, valued at $11,994,961.44. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 987,373 shares of company stock valued at $44,831,579. Corporate insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Hedge funds have recently bought and sold shares of the stock. ValueAct Holdings L.P. lifted its holdings in shares of Roblox by 340.7% in the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after purchasing an additional 7,835,921 shares in the last quarter. Vanguard Group Inc. boosted its position in Roblox by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after acquiring an additional 4,818,022 shares during the last quarter. FMR LLC grew its stake in shares of Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares in the last quarter. Dragoneer Investment Group LLC raised its holdings in shares of Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Finally, Whale Rock Capital Management LLC bought a new stake in shares of Roblox in the third quarter worth $107,491,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Roblox Price Performance

Shares of Roblox stock opened at $50.73 on Friday. Roblox has a 12 month low of $29.55 and a 12 month high of $55.10. The business has a fifty day simple moving average of $45.43 and a 200 day simple moving average of $40.53. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.45) EPS. Sell-side analysts predict that Roblox will post -1.56 EPS for the current fiscal year.

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.