Roblox (NYSE:RBLX) Price Target Raised to $48.00

Roblox (NYSE:RBLX) had its price target hoisted by Wedbush from $40.00 to $48.00 in a report published on Monday morning, MarketBeat.com reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Roblox from a “buy” rating to a “hold” rating and decreased their price target for the stock from $56.00 to $38.00 in a research note on Friday, July 31st. Bank of America boosted their price objective on shares of Roblox from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday. Wolfe Research downgraded shares of Roblox from an “outperform” rating to a “hold” rating in a research note on Friday, July 31st. Moffett Nathanson restated a “neutral” rating and set a $40.00 target price on shares of Roblox in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $38.00 price target on shares of Roblox in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Roblox has an average rating of “Hold” and an average price target of $60.36.

Roblox Stock Down 5.6%

Shares of NYSE:RBLX opened at $47.43 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. The company has a market capitalization of $31.78 billion, a P/E ratio of -33.17 and a beta of 1.47. Roblox has a 52-week low of $33.88 and a 52-week high of $142.00. The stock’s fifty day simple moving average is $43.97 and its 200-day simple moving average is $49.68.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business posted ($0.41) EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Roblox will post -1.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 52,568 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $1,995,481.28. Following the transaction, the chief executive officer directly owned 799,646 shares in the company, valued at $30,354,562.16. This represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Reinstra sold 17,934 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $680,774.64. Following the completion of the sale, the insider directly owned 398,064 shares in the company, valued at $15,110,509.44. This represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 185,236 shares of company stock worth $7,538,642. 10.05% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its position in Roblox by 379.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock worth $53,102,000 after purchasing an additional 729,379 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in Roblox by 35.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock valued at $7,076,000 after purchasing an additional 34,120 shares in the last quarter. Glynn Capital Management LLC purchased a new position in Roblox in the fourth quarter valued at about $5,706,000. Odyssean LLC raised its position in Roblox by 344.4% in the second quarter. Odyssean LLC now owns 40,038 shares of the company’s stock valued at $2,177,000 after purchasing an additional 31,029 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Roblox by 89.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock valued at $102,984,000 after purchasing an additional 891,634 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Company Profile

Roblox Corporation develops and operates Roblox, an online platform where users can create, share and play interactive experiences. The platform supports a broad range of user-generated content, including games, social spaces, educational activities and entertainment experiences, and is accessible across computers, mobile devices, consoles and other supported platforms.

Roblox provides development tools through Roblox Studio, while its virtual economy uses Robux, a digital currency that users can purchase and spend on virtual items, avatar customization and other platform content.