Roblox Co. (NYSE:RBLX) Sees Large Decrease in Short Interest

Roblox Co. (NYSE:RBLX) was the target 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 short sold. Based on an average daily volume of 7,700,000 shares, the short-interest ratio is presently 3.5 days.

Insiders Place Their Bets

In other news, insider Manuel Bronstein sold 37,846 shares of Roblox stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.03, for a total transaction of $1,969,127.38. Following the sale, the insider now directly owns 674,259 shares in the company, valued at $35,081,695.77. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arvind Chakravarthy sold 592 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the transaction, the insider now owns 276,892 shares of the company’s stock, valued at approximately $11,994,961.44. The trade was a 0.21 % decrease in their position. 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

A number of hedge funds have recently made changes to their positions in RBLX. Impact Partnership Wealth LLC boosted its stake in Roblox by 3.8% in the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after buying an additional 245 shares in the last quarter. Swedbank AB raised its position in Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after purchasing an additional 285 shares during the period. Metis Global Partners LLC raised its position in Roblox by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock worth $266,000 after purchasing an additional 288 shares during the period. Thrive Wealth Management LLC boosted its position in Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Roblox by 5.0% in the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock worth $296,000 after buying an additional 321 shares during the period. 91.08% of the stock is owned by institutional investors.

Roblox Price Performance

Roblox stock opened at $50.71 on Friday. The business has a 50-day simple moving average of $45.43 and a 200 day simple moving average of $40.49. Roblox has a 52 week low of $29.55 and a 52 week high of $55.10. The stock has a market cap of $30.81 billion, a price-to-earnings ratio of -30.92 and a beta of 1.56. 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 posted 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. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business earned ($0.45) earnings per share. Roblox’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Roblox will post -1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RBLX. Barclays increased their target price on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Piper Sandler increased their price objective on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Citigroup boosted their target price on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC increased their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, BTIG Research boosted their price objective on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

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.