Roblox Co. (NYSE:RBLX) Short Interest Update

Roblox Co. (NYSE:RBLX) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 21,290,000 shares, a decline of 15.2% from the December 15th total of 25,110,000 shares. Currently, 4.0% of the company’s shares are sold short. Based on an average daily volume of 8,390,000 shares, the days-to-cover ratio is currently 2.5 days.

Insider Activity

In other Roblox news, CFO Michael Guthrie sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total transaction of $494,400.00. Following the transaction, the chief financial officer now directly owns 352,844 shares in the company, valued at $17,444,607.36. This trade represents a 2.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction on Friday, October 25th. The shares were sold at an average price of $42.15, for a total value of $7,025,056.20. Following the sale, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at approximately $5,722,073.25. This trade represents a 55.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,254,601 shares of company stock valued at $65,622,735. 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 bought and sold shares of the business. FMR LLC lifted its stake in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after acquiring an additional 4,115,286 shares during the period. Dragoneer Investment Group LLC lifted its position in Roblox by 26.9% during 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 period. State Street Corp boosted its holdings in Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock valued at $480,482,000 after purchasing an additional 240,565 shares during the last quarter. ValueAct Holdings L.P. boosted its holdings in 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 during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Roblox by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock valued at $368,003,000 after buying an additional 408,915 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company increased their price objective on shares of Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC boosted their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Morgan Stanley increased their target price on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $49.00 price target on shares of Roblox in a report on Friday, October 25th. Seven 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. According to MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and an average price target of $57.48.

Roblox Stock Performance

Shares of NYSE:RBLX traded up $1.71 on Thursday, hitting $65.45. 9,820,863 shares of the company were exchanged, compared to its average volume of 6,802,186. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock’s 50 day moving average price is $56.61 and its 200 day moving average price is $47.23. Roblox has a 1-year low of $29.55 and a 1-year high of $66.51. The firm has a market capitalization of $39.77 billion, a P/E ratio of -39.91 and a beta of 1.43.

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